Marsh & McLennan has been recognised by the Carbon Disclosure Project's (CDP) 2006 Climate Leadership Index for its work in addressing and advising on global climate change issues. The index is based on the CDP's annual survey of the world's largest companies, which asks them to openly disclose investment-relevant information on climate change risks and opportunities.
Earlier this year at the World Economic Forum, Michael Cherkasky, president and CEO of MMC, identified climate change as one of the most significant long-term issues facing world businesses. The company continues to bring awareness to the issue by promoting dialogue, research and new alliances.
MMC anticipates significant new business opportunities from emerging climate risks and their solutions, particularly in the area of helping companies to optimise their own climate-related business opportunities. MMC expects to continue to grow its business in the burgeoning market of renewable energy and is formulating a set of renewable energy risk management tools in partnership with the United Nations Environment Program. The company is also developing insurance placements for innovative energy projects, such as offshore wind generation.
MMC is currently working closely with the insurance markets to expand and improve upon carbon emissions credit delivery guarantees, which the company believes will respond to some of the financial concerns related to emissions reductions in developing countries.
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