Rising calls for ‘green’ insurance among industry professionals

Over 40% of insurance industry professionals view it as highly important for insurers to offer environmentally conscious products, according to a new report from data and analytics consultancy GlobalData.

The report, released yesterday (6 August 2025), highlighted a “growing awareness of climate change and environmental, social and governance (ESG) concerns” as the driving force behind the statistics.

However, there are still many that do not see the importance of insurance’s role in global climate sustainability, with nearly one third of respondents rating “green” insurance as either “not very important” or “not important at all”.

GlobalData’s poll was conducted on Verdict Media sites in Q3 2025 and gathered over 100 responses from industry insiders.

Sustainable insurance

The firm suggested that beyond just positively impacting the climate, insurers could enhance customer loyalty and improve their long-term competitiveness by demonstrating the availability of ESG compliant products.

Beatriz Benito, lead insurance analyst at GlobalData, said: “The challenges posed by climate change have led to the emergence of green or sustainable insurance, encompassing products and practices that integrate ESG factors into the value chain.

“Climate change is leading to more frequent weather events and natural disasters such as wildfires, floods and tsunamis, which are resulting in higher claims. Insurers can offer green products in a bid to mitigate climate-related risks.

“Governments and regulatory bodies are increasingly implementing regulations that require businesses – including insurers – to adopt ESG practices, as well as making disclosures.

“Ultimately, insurers which can demonstrate environmental commitments will enhance their brand reputation and improve trust among consumers, which will in turn help them to position themselves as forward-thinking and responsible organisations while also potentially enabling them to charge more for their products.”