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The document argues that financial choices are often overlooked in corporate decarbonization strategies despite the direct impact of bank deposits, asset managers, and insurers on the real economy. It encourages organizations to shift their funds toward financial institutions with robust climate commitments and identifies specific French institutions that limit their support for fossil fuel expansion.

The document examines the evolving role of the insurance sector from merely absorbing financial losses to actively supporting the adoption of resilience solutions. It contends that there is a gap between public expectations and the operational constraints of insurance markets, suggesting that a recalibration of these roles is necessary to achieve practical resilience outcomes.

The report examines how the insurance and reinsurance sectors are responding to intensifying climate disruptions in global supply chains. It identifies critical structural, market, and modelling limits that undermine the industry's ability to absorb systemic risk, noting a trend toward 'un-insurability' in high-risk regions. The author argues that without a shift from simple risk transfer to a stewardship model integrated with long-term adaptation and public-private coordination, the sector may amplify rather than stabilize economic volatility.

Reclaim Finance criticizes AXA for insuring the Calcasieu Pass LNG terminal in Louisiana, arguing that this contradicts AXA's stated commitments to reduce support for shale gas. The document highlights the terminal's significant local pollution, its role in global methane emissions, and the contradiction in AXA's policy of refusing to insure shale gas production while insuring the export terminals that process it.

Reclaim Finance reports a 'double discourse' within the Crédit Agricole group regarding climate commitments. While Crédit Agricole CIB announced in May 2024 that it would no longer participate in conventional bond issuances for fossil fuel companies, its subsidiary Amundi continues to provide capital to the sector. Between 2024 and 2025, Amundi invested 300 million euros in 80 bonds from companies expanding coal, oil, and gas projects, including significant holdings in Glencore, Saudi Aramco, TotalEnergies, and BP. The report contrasts this with BNP Paribas, which extended similar restrictions to its asset management and insurance arms. Reclaim Finance asserts that this inconsistency undermines the group's climate credibility and calls for an immediate alignment of Amundi's policies with the group's stated transition goals.

The study uses an integrated approach combining hydroclimatic hazard impact and supply-driven input-output models to estimate damages to Sweden's food, electricity, and water supply. Between 2005 and 2022, combined hydroclimatic hazards caused EUR 8.4 billion in economic losses across the agriculture, electricity, and insurance sectors, with floods contributing the highest share of damage.

The document warns that intensifying hurricanes, fueled by fossil fuel-driven climate change, are posing an escalating threat to US communities, especially those near petrochemical facilities. It highlights a systemic failure where the US government is dismantling essential safety agencies and forecasting tools, while insurance companies profit from fossil fuel investments while withdrawing coverage from vulnerable homeowners. The authors call on state and local leaders to implement safety rules and halt fossil fuel expansion to protect residents from toxic releases and financial ruin.

The Canadian Climate Institute responds to claims that its 'Close to Home' report relies on 'guesswork,' asserting that its risk modelling uses data from The Co-operators and SwissRe and focuses on near-term risks. The Institute argues that failing to account for flood and wildfire exposure in housing development could increase private and public costs by $3 billion annually. It emphasizes that better land-use planning and risk information empower market participants to make informed decisions, addressing a market failure where insurance and property values misprice risk. The document notes that 2024 saw record insured losses of over $8.9 billion in Canada due to severe weather, including events in Quebec, Toronto, and Jasper, and maintains that climate change is increasing the area burned by wildfires.

The document examines how COVID-19 containment measures and the resulting economic crisis disrupted insurance operations, product cycles, and balance sheets across 18 sub-Saharan African markets. While the pandemic strained the sector and highlighted pre-existing weaknesses, it created a catalyst for forced digitisation and a regulatory imperative to remove barriers to innovation.

The document outlines the impact of Covid-19 on the African insurance sector and the subsequent regulatory responses in sub-Saharan Africa. It highlights a trade-off between providing regulatory relief to insurers and monitoring market vulnerabilities. While the pandemic hindered operations like premium collection and claims processing, it also created opportunities for digitalization and the adoption of regtech and suptech. The current research seeks to evaluate these responses to guide future stability and crisis management.

The R3Lab Toolkit is designed to help insurance regulators in Africa foster responsible innovation while maintaining consumer protection. It outlines a four-step process: conducting innovation gap assessments, utilizing a taxonomy of regulatory and supervisory tools, integrating these tools into concrete action plans, and monitoring progress via a key performance indicators (KPI) framework. The toolkit builds on R3Lab's initial assessments of innovation states and barriers across eight Sub-Saharan African countries.

The report introduces a machine learning-based approach and a detailed taxonomy to better capture private sector adaptation finance, which is historically under-reported. By applying this new methodology, the Climate Policy Initiative increased its tracked annual average private adaptation finance for 2019-2022 from USD 1.0 billion to USD 4.7 billion.

The document addresses the mass exit of insurers from the Net Zero Insurance Alliance (NZIA) following threats of antitrust legal action from 23 US state attorneys general. It asserts that climate change is already destabilizing the insurance business model through soaring catastrophe losses, particularly in North America, and urges insurers to stop funding climate-denying politicians and phase out fossil fuel support.

The report analyzes 41 multisectoral National Adaptation Plans (NAPs) to explore their role in managing loss and damage. It finds that while nearly half of NAPs explicitly mention loss and damage and almost all incorporate disaster risk management, there are significant gaps in addressing non-economic losses and irreversible impacts. The authors argue that NAPs are essential tools for minimizing loss and damage and recommend that international funding and planning for loss and damage build upon existing NAP risk assessments and institutional frameworks.

Reclaim Finance calls on AXA to align its insurance and reinsurance policies with the IEA's Net Zero by 2050 scenario. The organization demands that AXA exclude new oil and gas fields, remove exceptions for companies claiming to be "in transition," and cease coverage for new LNG terminals and coal infrastructure in reinsurance treaties.

The Net-Zero Insurance Alliance (NZIA) released its first Target-Setting Protocol on January 17, 2023. Reclaim Finance argues the protocol is a 'step backward' compared to other GFANZ alliances and IPCC guidelines. Key criticisms include a low minimum emission reduction target of 34% CO2e by 2030, the failure to explicitly address fossil fuel expansion, and the exclusion of treaty reinsurance and certain construction insurance from its scope. While the document notes the positive exclusion of carbon offsets from targets, it calls for the NZIA to accelerate its protocol update from late 2024 to the end of 2023.

BimaLab West Africa is an initiative supported by FSD Africa and hosted by insurance regulators to create an Insurtech ecosystem. The program aims to extend insurance access to underserved communities, provide regulatory support for innovators, and bridge the protection gap. Between 2021 and 2022, the program accelerated 20 insurtechs and saw 20 solutions pitched to investors, with three winners receiving £51,000 from GIZ.

The Geothermal Risk Transfer Facility aims to catalyse private investment in African green energy by establishing a joint underwriting facility backed by local insurers to cover early-stage geothermal drilling risks. In Kenya, four insurance companies (Sanlam, APA, ICEA Lion, and Mayfair) have committed as founding members, and engagement with the regulator is positive. In Ethiopia, the programme has engaged with 13 of 18 insurance companies and plans a gap analysis with the national regulator.

The report reveals that while designated project-specific funding for coal has declined, general corporate financing remains the primary driver of new coal infrastructure. It highlights a gap between the public net-zero commitments of many financial institutions and their actual lending practices, noting that many 'coal exclusion' policies contain loopholes that allow continued support for coal developers. The document provides data on the shrinking coal pipeline and identifies specific banks and asset managers that continue to provide loans, underwriting, or equity to companies building new coal plants and mines.

The report finds that while net zero commitments from private financial institutions have grown substantially, representing 32% of global private financial assets, there are significant gaps in the credibility and coverage of interim targets. Most commitments originate from OECD countries, and there is a notable lack of detailed climate data and commitments in developing economies, particularly in Asia. The analysis highlights that only a small fraction of institutions have externally verified plans, and many interim targets cover only a portion of their total assets under management.