16th June 2019
Commenting on this week's announcement that the UK is adopting a target of zero greenhouse gas emissions by 2050, director general of the Association of British InsurersABI) Huw Evans, comments “Today’s target is a welcome effort to address the underlying causes of climate change. Insurers are on the front-line dealing with the results of rising temperatures and changing investment needs and so understand better than most the serious implications of a changing climate. We need a sustained and ambitious response to protect homes, businesses and communities around the world. The UK also needs to build its resilience to severe weather, ensuring vital flood defences keep pace with climate change and helping people take steps to improve their own protection.”
The UK Government announcement came on the day the ABI unveiled its landmark new research, showing the current network of flood defences prevent an average of £1.1bn of damage a year.
James Dalton, director of General Insurance Policy at the ABI, added “The barriers, walls and natural defences that currently prevent greater damage being done by the UK’s rivers during times of extreme weather make economic sense, but they must keep pace with the threat if they are to continue being effective. It’s essential the UK Government sticks to its ambitions on flood defence spending and doesn’t let the lack of severe flooding in recent years lull the country into a false sense of security.”
ABI Trends(1,071 articles)