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U.N. urges insurers to raise their game on sustainability

Insurers were put on the hot seat during an extraordinary United Nations summit on the industry's role in combating climate change.

By Sam J. Friedman | Updated on July 01, 2015

Insurers were put on the hot seat during an extraordinary United Nations summit on the industry’s role in combatting climate change, where Secretary General Ban Ki-moon pleaded with carriers from around the world to leverage their vast resources and risk management expertise to bolster sustainable development and their bottom line.

The U.N. Insurance Sector Summit took place one day before Pope Francis released his historic call to action on climate change, which the secretary general characterized as “the defining issue of our time.” During his keynote address, he noted that while insurers are concerned about being disrupted by emerging technologies and non-traditional competition, climate change is threatening to disrupt the entire planet’s ecosystem and economy, and thereby should be one of the industry’s prime strategic concerns.

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