Speakers’ Bios
Lasse Wallquist (Key Speaker)
Lasse is a sustainability expert with experience in sustainability risk, ESG in insurance underwriting and environmental management. He is managing Swiss Re’s Sustainable Business Risk Framework, which applies to both re/insurance and investments. The development and implementation of energy and climate-related guidance for underwriting are the focus of his work. In his previous role at Swiss Re in New York, he was responsible for the company’s Greenhouse Gas Neutral program. Lasse holds a PhD in environmental sciences from ETH Zurich.
Priyen Mehta (Host & Moderator)
Priyen is Head of Market Underwriting SA and is responsible for the pricing and underwriting of the South African portfolio. He brings with him strong experience in structured solutions, natural catastrophe modelling, transactions, and training. Before joining Swiss Re, Priyen was the Territorial Head of Asia at Santam Re, having started his career in Santam’s Actuarial Pricing team. Priyen holds a Bachelor’s Degree in Business Science from UCT and UKZN with majors in Finance, Economics and Statistics and has recently completed his MBA at the UCT’s Graduate School of Business.
A Swiss Re sponsored webinar, Net-Zero Insurance – unrealistic or inevitable held on 18 Aug 2021 via MS Teams.
The panellists discussed the economics of climate change.
Global Warming as the driver for a changing physical risk landscape
- More frequent and severe heat waves.
- More heavy precipitation in many regions.
- Sea-level rise increases storm-surge risk.
- Risk of historical biases.
- Key challenge for NatCat modelling in the face of climate change.
Rapid and far-reaching measures are needed to limit warming to well below 2°C. “World’s first comprehensive energy roadmap shows government actions to rapidly boost clean energy and reduce fossil fuel use can create millions of jobs, lift economic growth and keep net zero in reach.”
A just transition is a critical enabling factor in reaching net-zero
- Governments hold the primary responsibility for making the just transition happen, with business and civil society playing their part.
- Investors can also play a significant role by making sure that the social dimension is fully integrated into their assessment, stewardship, capital allocation and policy activities.
- Clear just t transition expectations are needed to enable investors to fulfil this role with integrity and impact.
- Key opportunity areas for insurance to support the journey to net-zero
- Enabling and incentivizing low carbon choices
- Mainstreaming the encouragement of climate mitigation through efficient and resilient reinstatement
- Implementing environmentally sustainable claims servicing
- Enabling capital flows towards green solutions through risk transfer solutions
- Creating removal-based carbon offsets through natural capital protection
- Supporting the sustainable decommissioning of carbonintensive assets
- Developing risk advisory services to support clients’ climate mitigation understanding and approach
Artiicle by Mpho Tlagadi
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