European insurance companies are boosting their investments in green energy at the same time that they’re letting go of certain carbon intensive businesses. This move is being made for the purpose of doing their part to cut back on risks associated with climate change. This move was announced at the same time that 200 countries meet in Poland to discuss climate initiatives.
As a growing number of countries around the world place a greater focus on their green initiatives and climate change strategies, the European insurance companies are stepping up with their own efforts. This makes sense as insurers are among the first to be affected by the impact of changing climate trends. As major storms, wildfires and other natural disasters become more frequent and severe, so do insurance claims.