First major insurer aligns capacity to support Willis' climate accreditation model
Liberty Specialty Markets (LSM) has aligned capacity to support the Climate Transition Pathway (CTP) solution, an accreditation framework developed by Willis Towers Watson.
CTP provides insurance companies and financial institutions with a consistent approach to identifying businesses with robust low carbon transition plans aligned to the Paris Agreement.
Liberty is the first major insurer to align capacity to support CTP, which is said to be a "best practice industry accreditation model" to help companies transition to a low carbon economy. Companies achieving accreditation will have the opportunity to access insurance capacity and capital to support their orderly transition and help them meet their low carbon commitments.
Graham Knight, global head of natural resources at WTW, said: “We are delighted that Liberty is supporting the CTP solution. As part of our ongoing commitment to create innovative solutions for a low carbon economy, we are supporting organisations through an orderly transition to enable them to have continued access to insurance as they transition and benefit from a greater level of certainty around the future availability of risk capacity, helping them deliver a more sustainable future.”
Michael Gosselin (pictured), chief underwriting officer – specialty, at LSM, said: “Climate and environmental challenges continue, and all businesses are having to review their sustainable credentials. We are delighted to be collaborating with Willis Towers Watson on the Climate Transition Pathway which will provide a best practice industry standard to help businesses move to a more sustainable future.”
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