Industry think-tank the Geneva Association has backed moves to counter climate change in the run-up to next week’s United Nations summit on the issue.

The top executives from 68 insurers and reinsurers say the industry is “uniquely positioned” to provide specialised services for countries and businesses vulnerable to climate change.

They are ready to work with policymakers on building codes, sustainable solutions and steps to reduce carbon emissions, and are committed to increasing resources for environmental research.

“The prospect of extreme climate change and its potentially devastating economic and social consequences are of great concern to the insurance industry,” the association says in a statement. “We are willing to play a major and concerted role in the global efforts to counter climate risks.”

Signatories to the statement include Australia’s Suncorp and IAG, plus XL Catlin, Allianz, AIG, Zurich and Manulife Financial.

The success of the two-week summit in Paris hinges on whether the world community can agree a plan to limit global warming to two degrees.