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Graham Hawkins, Global Head of Environmental, recently addressed the MGA Association and published a detailed whitepaper highlighting insurance issues related to the Green Transition

Using tangible examples he showed how shifting to a greener society can also bring hidden environmental risks, which many people may miss and not be covered for.

  • For instance, the construction of new wind farms and solar panels comes with significant challenges to biodiversity and floodplains.
  • Non-fossil fuels have the potential to reduce greenhouse gas emissions but carry pollution risks and are still prone to fire, spillage and leaks.
  • Electric vehicles’ engines don’t produce any emissions. Yet extensive mining is needed to manufacture the batteries which also present an environmental risk

It has therefore become essential for businesses to examine the growing gap between their insurance cover and their environmental exposure.

"The future might be green, but it will only be clean if we carefully appraise the environmental risks associated with all types of commercial activity" comments Hawkins. "To be fully protected, businesses need to put effective measures in place to both mitigate these risks and ensure access to effective remediation strategies when needed." 

Explore our expert whitepaper to learn more about navigating these risks and embracing sustainable practices for a brighter future.

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