On the first conference day of Sustainable Finance Week in Guernsey, the rewilding of the environment and carbon offsetting dominated discussions.
The first panel discussion, ‘Insurance and the Opportunities of Net Zero’, saw Natalia Dorfman, CEO and founder of Kita Earth Limited, Glenn Ellis of AIRMIC and Stuart Logue of Flood Re discuss challenges and opportunities facing the industry.
On captives and carbon offsets, Ellis said: "Captives could potentially be one of the risk financing vehicles for the efficacy of carbon offsets."
Dorfman added: "The insurance industry has huge potential with climate change both to provide resilience when things go wrong, as well as using insurance as an innovative way to understand new industries that can be insured."
Panellists taking part in the second session outlined a variety of new standards and disclosures in sustainable finance, and asked if this plethora of standards is driving investors towards net zero.
The day concluded with an address by Alison Gavey of the Guernsey Financial Services Commission, who announced the launch of a discussion paper on The International Sustainability Standards Board.
Commenting on the implementation of regulations and standards, Gavey said: "Guernsey is assessing the best use of the standards to ensure that businesses are prepared and able to compete internationally.”
