Global insurance and reinsurance broker Aon has joined the Asia Investor Group on Climate Change (AIGCC) as a member with risk capital capabilities.
As a member, Aon will contribute to developing market-based climate solutions for increasing resilience against climate risks for new sustainable growth opportunities.
Aon’s innovation in data, analytics and risk transfer solutions enables clients to accelerate their investments in climate resiliency and aid in the transition to a net zero economy.
The AIGCC is a non-profit initiative and a leading network of institutional investors in Asia mitigating climate risks and seizing the opportunities of net zero.
AIGCC aims to create awareness and encourage action among Asia’s asset owners and asset managers about the risks and opportunities associated with climate change and low-carbon investing.
Dr. Tom Mortlock, Head of Climate Analytics for Asia Pacific at Aon, commented, “Addressing climate risks requires collaboration between asset owners, insurers, lenders, and governments. Insuring and financing the energy transition is essential to mitigate the impacts of climate change while driving economic growth.
“As investor sentiment continues to shift capital towards a greener future, actionable insights, and appropriate risk transfer solutions are crucial for companies looking to seize these opportunities. Aon is looking forward to contributing to AIGCC’s efforts to help investors and companies make better decisions as they navigate the transition to a net-zero future.”
According to Aon’s 2024 Climate and Catastrophe Insight, the insurance gap in Asia is one of the largest in the world, with only 14 percent of economic losses covered by insurance in 2023. This makes investing in areas of high climate risk across the region a potentially volatile activity. On top of this, climate change is increasing the underlying risk profile in various areas of the region.
Rebecca Mikula-Wright, Chief Executive Officer of AIGCC, added, “We are pleased to welcome Aon as a member of AIGCC. Industry participation is essential to achieving meaningful progress on climate action across Asia, and we welcome Aon’s contributions that will enhance our collective impact.
“We look forward to working together with Aon to drive forward solutions for a low-carbon and climate-resilient future, fostering meaningful and accelerated progress.”
