UK Environment Agency chief executive: ‘business of business is climate’

UK Environment Agency chief executive Sir James Bevan has suggested that “the business of business is climate”. In a speech delivered to the Association of British Insurers, he argued that it is in the interests of the insurance and wider financial services industry to take steps to address climate change. Bevan said: “The changing climate is causing more extreme weather and increasing the frequency and severity of floods, heatwaves and droughts, which means more frequent and more serious impacts on people, homes and infrastructure – the very things that the insurance industry and its customers wants to see protected from those impacts. As the climate risk rises, so too do the physical risks to people and property and the financial risk to insurers.”