Howden forms climate risk and resilience division

A new climate risk and resilience division has been launched by Howden. The broker said the team will focus on risk transfer products that help to accelerate and de-risk the move towards a low-carbon economy, and to mitigate the results of climate change.

The team will be led by Charlie Langdale and will bring together ideas and insight from across the group and incubate them to create solutions that address the problems of tomorrow at scale, according to Howden.

Mr Langdale, head of climate risk and resilience at Howden, said: “We’re helping to remove barriers to financing the projects that will help us move towards a low-carbon economy, whilst also creating scalable, sustainable markets for funding disaster response by unlocking private capital for social good. We’re driving capital to where it otherwise wouldn’t go and, in doing so, tackling climate risk from both a reduction and recovery angle.”

Howden said that this year it has collaborated with the Danish Red Cross, and others, on the first ever volcano catastrophe bond and developed a carbon-offset invalidation insurance for the California Cap and Trade scheme. It is also helping to launch the world’s first fully sustainable insurer, Parhelion.

David Howden, CEO of Howden Group, said: “I don’t know that there has ever been a more important moment for the insurance industry to prove its power as an enabler for change. The move to a low-carbon economy simply cannot happen without insurance; with the launch of this team, we’re investing in the people and resources to help drive that change. We’re bringing together the best minds from within our business, and experts from outside the industry, to help us identify and develop the solutions that will have genuine impact in helping our clients with the transition to a more sustainable world.”

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