CTP will help businesses committed to transition to a low-carbon economy in return for continued access to insurance capacity and capital.
LONDON, 18 October, 2021 – Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking, and solutions company, today announces that SCOR have signed up to align capacity to support the Climate Transition Pathway (CTP) solution, an accreditation framework that provides insurance companies and financial institutions with a consistent approach to identifying businesses with robust low carbon transition plans aligned to the Paris Agreement. This follows on from the recent announcement that Liberty Specialty Markets had become the first insurer to support the CTP.
SCOR is the latest insurer to sign up to the CTP accreditation model. It will provide help to organisations wishing to 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.
“At Willis Towers Watson we are committed to helping our clients in a sustainable way. Climate Transition Pathways was designed to help those organizations wishing to transition to a low carbon economy and we are absolutely delighted to see more insurers supporting the framework.”
Graham Knight,
Global Head of Natural Resources
Graham Knight, Global Head of Natural Resources, said: “At Willis Towers Watson we are committed to helping our clients in a sustainable way. Climate Transition Pathways was designed to help those organizations wishing to transition to a low carbon economy and we are absolutely delighted to see more insurers supporting the framework. Today’s announcement is another step towards ensuring we can provide continued access to insurance for companies committed to transition as well as a greater level of certainty around the future availability of risk capacity. By helping our clients in this way, we are helping to provide a sustainable future.”
Olivier Perraut, Chief Underwriting Officer Specialty Insurance, SCOR says “Our conviction is that we, re-insurers and SCOR, in particular, have an essential role to play in insuring the energy transition. We believe this Climate Transition Pathway approach is an important way to support our clients in their own commitments to follow credible transition pathways as they transform their business model and align to the objectives of the Paris agreement.”
More information on Climate Transition Pathway can be found at Climate Transition Pathways.
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.
