June 28, 2006—Insurance giant AIG has become the first US-based insurance company to adopt a policy to manage the risks and capture the business opportunities posed by climate change, according to Ceres, a national coalition of investors and environmental groups, which commended AIG for the step.
AIG’s new policy states that the company is “actively seeking to incorporate environmental and climate change considerations across its businesses, focusing on the development of products and services to help AIG and its clients respond to the worldwide drive to cut greenhouse gas emissions.”
The new initiative comes at a time when US insurers are seeing record increases in insured losses from extreme weather events, notes Ceres. “AIG’s Policy and Programs on Environment and Climate Change” can be found on AIG’s Web site.
