Why nature matters to insurance 2025

In this IIL nature and sustainability fireside chat, Dr Stephanie Wray explains the role of nature in supporting our economy; how businesses can have both negative and positive impacts on nature; how they or their supply chains may depend on it for their survival; and therefore, the role it plays as a material risk for insurers.

Nature is the total of living things on the planet (biodiversity) plus the non-living components (soil, water, climate). While much government and business attention are paid towards climate risks and mitigation, this is only one aspect of the interactions of human society with nature. It could be possible to achieve global net zero (for example through a technological solution of carbon capture and storage) but unless we address the wider implications of our relationship with nature, the future of human society would still be at risk. We don’t just need a survivable climate, we need clean water, clean air, food, fibre, minerals etc.

In this session, Stephanie discusses these goods and services provided by nature, which appear to be free at the point of use – and which are off balance sheet for most companies – but which are critical to operations. What risks does this pose for the future and how should the insurance industry respond to them?

Learning objectives

• How nature is important to business and the economy
• How business may rely on or impact nature
• The role of the insurance industry

Speakers

• Chair: William Buttler, North American Wholesale Leader, Marsh
• Dr Stephanie Wray, Nature and Sustainability Consultant, Athene Consulting