News

UN signs £1tn per year ‘insurance policy for humanity’ deal

By 2024-11-25T10:30:00

COP29 climate change

’Like any insurance policy, it only works if premiums are paid in full and on time,’ says UN climate change executive secretary

The United Nations (UN) Conference of Parties (Cop) agreed a climate deal yesterday (24 November 2024) that UN climate change executive secretary Simon Stiell called “an insurance policy for humanity”. 

Signed at the Cop 29 summit in Baku, Azerbaijan by representatives of countries around the globe, the new agreement will see richer, industrialised countries contribute £1tn ($1.3tn) per year by 2035 in funds to help poorer, developing countries transition to a low-carbon economy.

Read more…

Explore more ESG-related content here or discover more news here

You need to register to continue reading the rest of this article and more for free.
(If you’re already registered, please sign in here.)

REGISTER NOW FOR FREE

We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.

Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:

  • Uncover Secrets: Dive deep with exclusive annual reports, fueled by expert insights.
  • News That Matters: Award-winning coverage & analysis, delivered to your inbox.
  • Stay Ahead, Your Way: Daily or weekly - choose your news rhythm.
  • Own Your Learning: Curate your knowledge with a personalized library.

Register for FREE now and Keep Reading

Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.