(Re)insurers against climate change

If I were to pick a business that would have a strong interest in warding off the catastrophic effects of global warming, I’d probably think insurance companies. So it makes sense that the re-insurance industry — from what I understand, basically the insurers of the insurers — has voiced its stake in the matter. More surprising, though, might be its optimism.

Munich Re, the world’s largest reinsurer, is one of the big businesses that have a special interest in the result of the UN climate conference in Copenhagen in December. Right now, Munich Re is fairly optimistic about the result, says Chief Scientist Peter Hoeppe.

“If China, India and the US stand by their commitments, I’m really optimistic,” Peter Hoeppe says to the Bloomberg news agency. “The two degree goal includes all the actions that need to be taken.”

And if the big emitters don’t stand by their commitments…well, let’s just say that there’s not likely an insurance plan for that scenario.C