Measurable commitment needed on climate change: Prince of Wales

HRH The Prince of Wales says that the insurance industry has an important role to play in helping society develop preventative measures rather than simple dealing with the aftermath of disasters.

Speaking in relation to challenges such as climate change, Prince Charles’s was addressing members of the audience at the UN Financial & Private Sector Disaster Resilience Global Summit in London this week. The event took place in conjunction with the International Insurance Society’s annual event.

Speaking to the insurance industry, he said: “I’m convinced that your collective expertise and combined financial assets can add great importance to the issues that the UN will face in coming months.”

The Prince said that declarations of intent were no longer enough and “measurable commitment” was needed.

“The revision of the framework, which hopes to be complete in September 2015, is a significant opportunity to build on the work of previous years,” he said. “Addressing disasters once they have occurred, rather than putting sufficient measures in place to prevent the damage associated with them is an outdated approach.”

He also echoed the views of Lady Rothschild earlier in the day, saying that the lack of sufficient methodology makes the planning process impossible.

“We must act urgently if we are to set the world on a more resilient course between now and 2015,” he said.