Industry gets behind emissions trading scheme
The insurance and financial services sectors have backed the Federal Government’s proposal to establish an emissions trading scheme.
While there has been no official response from the general insurance industry’s peak body, Allianz and the Investment and Financial Services Association (IFSA) say they agree with the Federal Government’s green paper on a carbon pollution reduction scheme.
Allianz says insured damage from severe weather events has increased tenfold in the past 30 years and it estimates such events will increase by a further 25% over the next 10 years.
Spokesman Nicholas Scofield says the insurance industry has a vested interest in a global framework for emissions reduction due to the impact of climate change on the bottom line.
“It is important that we put in place effective arrangements to allow Australia to play its part, along with other countries, in a global agreement to reduce greenhouse gas emissions,” he said.
IFSA CEO Richard Gilbert told insuranceNEWS.com.au Australians cannot continue to consume natural resources at the current rate.
“Whether it’s water, coal, air, petrol and minerals, we need to deal with our consumption of non-renewable resources efficiently,” he said.
While there has been no official response from the general insurance industry’s peak body, Allianz and the Investment and Financial Services Association (IFSA) say they agree with the Federal Government’s green paper on a carbon pollution reduction scheme.
Allianz says insured damage from severe weather events has increased tenfold in the past 30 years and it estimates such events will increase by a further 25% over the next 10 years.
Spokesman Nicholas Scofield says the insurance industry has a vested interest in a global framework for emissions reduction due to the impact of climate change on the bottom line.
“It is important that we put in place effective arrangements to allow Australia to play its part, along with other countries, in a global agreement to reduce greenhouse gas emissions,” he said.
IFSA CEO Richard Gilbert told insuranceNEWS.com.au Australians cannot continue to consume natural resources at the current rate.
“Whether it’s water, coal, air, petrol and minerals, we need to deal with our consumption of non-renewable resources efficiently,” he said.