Insurer wants independent climate committee with statutory powers
AXA has responded to the UK government's Climate Change Bill. The main points of the submission are:
1. The proposed committee on climate change should be set up along similar lines to the Monetary Policy Committee (MPC) of the Bank of England, that is, independent of government and with statutory powers.
2. Targets for carbon reduction should be set by supra-national bodies such as the European Union. National governments could then adopt their own targets provided they are more demanding than multilateral agreements.
3. AXA calls on the government to ensure that a fully developed adaptation strategy is developed in parallel with mitigation strategies, including investment in flood defences, changes to planning policy and changes to building regulations.