Climate change ‘altering risk profile’ for insuring renewables
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Mounting pressure on governments and insurers to adopt more sustainable models is driving investment in renewables. But climate change coupled with an adjusting insurance market is making renewables projects more expensive to insure.
'The positions taken in support of clean energy often traverse both the traditional risk transfer and corporate investment decision.’ Steven Munday, global renewable energy leader at Willis Towers Watson.
As investment in renewable energy grows, climate change and complex risk could make certain technologies unfeasible for insurers to cover.
renewable, climate, insurance, sustainability, cyber