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Strategic Risk Solutions Europe Launches Carbon Emission Risk Program

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March 02, 2018

Strategic Risk Solutions Europe (SRS Europe) has announced the launch of its carbon emission risk program. The program will initially involve a series of workshops where sustainability directors and risk managers are invited to learn how they can identify, manage, and finance the carbon emission risks their firms face in the transition to the low carbon economy.

Carbon Risk Solutions was established in 2015 to identify how risk management and insurance techniques can be deployed to support the commitments made by many leading corporations to become carbon neutral under the 2015 United Nations Climate Change Conference, COP 21, held in Paris, France.

During 2016, Carbon Risk Solutions undertook a comprehensive analysis of the impact an unforeseen increase in consolidated carbon emissions might have on a multinational's ambitions to become carbon neutral. In doing so, a risk identification methodology and range of insurance-linked solutions were developed, including the use of captive insurers, self-insurance, and risk transfer products.

Kenneth Miger, a former multinational risk manager and director of Carbon Risk Solutions, said, "Through our structured workshops, invisible barriers will be removed and solutions realized. By educating and equipping sustainability and risk management departments with the necessary methodology and tools we are confident challenges can be overcome."

Stuart King, president of SRS Europe, said, "The insurance market has been rather slow to respond to carbon risk transfer solutions for multinationals. We see an opportunity to develop these programs within captives and cells, while the commercial market develops and becomes more comfortable with this emerging risk."

For information about the upcoming workshops, please contact [email protected] or [email protected].

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