The 2021 AMRAE Climate Commitment Barometer shows the growing importance of taking into account and understanding climate risks
Under the thought leadership of Oliver Wild, President of AMRAE and Antoine Denoix, CEO of AXA Climate
- The majority of risk managers believe they have poor visibility of climate risks in their value chain.
- The integration of climate risks is uneven within companies. More than 40% of risk managers surveyed indicate that their organization does not yet have a climate risk governance mechanism in place.
- While nearly 75% of the Risk Managers surveyed say they are committed or very committed to climate risk issues, only 20% of the Risk Managers surveyed are responsible for analyzing and mapping climate risks, while 46% contribute to it.
- There is a huge concern amongst the Risk Managers that certain geographies or activities will become uninsurable due to the due response of insurance market to climate risks.
- 40% of the sample surveyed would like to receive more training on how to take these climate risks into account.
Our objective behind this Barometer
It is not too early to say that the year 2021 will be a landmark year for Risk Managers in many French companies.
The severe and tragic climatic events of this summer (floods in Belgium and Germany, forest fires in Greece, hurricane Ida in the United States, etc.) are already having an impact - or will have an impact - on renewals, highlighting the need to adapt the risk management profession and the business to the new environment.
The severe and tragic climatic events of this summer (floods in Belgium and Germany, forest fires in Greece, hurricane Ida in the United States, etc.) are already having an impact - or will have an impact - on renewals, highlighting the need to adapt the risk and insurance businesses to the growing climate risks. These events undeniably accentuate what we have known for many years, but which we had not necessarily all integrated: climate change and its consequences are already here. We must not only adapt to its inevitable effects, but also limit our impact to reduce the emissions that lead to accelerated climate change.
The year 2021 was also the year of the COP26, an event expected to raise climate ambitions on a global scale. Its mixed results call on private sector players to play their part more than ever.
As a #RiskManager, you have an important role to play.
This barometer is the result of a survey conducted among AMRAE's Risk Managers members. Reading it will allow you to better understand how risk and insurance professionals in companies today apprehend issues related to climate risk and what their needs are in order to serenely integrate these new issues into their work. It is a cornerstone for continuing to move our businesses towards greater responsibility and sustainability.