Page 15 - Turkinsurance Digital Magazine

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According to a Swiss Re study, global

insured losses for catastrophes in 2018

were $85 billion

Chubb Turkey Assistant Manager Zeynep Özek; “By providing insurance solutions for
renewable energy production facilities like solar, wind, geothermal and hydroelectric

power plants, we help to reduce carbon emissions and to mitigate climate change which
also contributes to reduce our carbon footprint”

According to World Economic Forum’s Global Risks Report, Chubb’s Corporate Environmental Program is now in its thir-
climate change is one of the biggest threat we face… How teenth year. We continue to be at the forefront in addressing
will climate change affect the global insurance industry? environmental issues and the implications of climate change for
all areas of our business. We are proud of the progress we have
Climate change is an important and serious issue for the global made and are committed to taking further steps to make mean-
insurance industry because it is our business to provide security ingful improvements in the environment.
against many of the property-related risks posed by such change.
Our Annual Environmental Report outlines the full scope of our
At Chubb, part of our business involves providing clients with company’s environmental program and initiatives. We remain
insurance and reinsurance protection from the impact of natural committed to communicating important information about the
catastrophes, including weather events that are more frequent company’s environmental initiatives to our clients, shareholders,
or severe. employees, business partners, the communities where we operate
and others who have an interest in our company, our industry and
We recognise that climate change and weather patterns are in- the environment.
tegral to our underwriting process. In 2017, natural catastrophe
losses exceeded $135 billion and were again elevated in 2018. The report addresses: Chubb’s approach to managing the poten-
According to a Swiss Re study, global insured losses for catastro- tial risks from global climate change. The insurance products
phes in 2018 were $85 billion, the fourth highest on record and and services we offer to facilitate market-based solutions to en-
higher than the annual average of the previous 10 years. vironmental and climate-related issues. Our progress in reducing
greenhouse gas (GHG) emissions in our own operations. Our cor-
Chubb publishes an annual environmental report. What are porate philanthropy that focuses on the environment.
the topics of this report?
What can you tell us about Chubb’s Corporate Environmen-
At Chubb, we recognize that a changing climate affects every- tal Program?
one—our customers, employees, shareholders, business partners
and the people who live and work in the communities we serve. We are working both internally and externally on making an ac-
Our environmental initiatives and our philanthropy reflect our tive contribution towards the protection of the environment and
desire to do our part as a steward of the Earth. climate.

With operations in 54 countries and territories, Chubb’s business We have a formal program to measure, record and reduce green-
and operating models are exposed to the full impact of global house gas (GHG) emissions in its our own operations since 2006.
climate change too. This year, Chubb announced a new companywide goal to reduce
its global GHG emissions by 20% on an absolute basis by 2025.