ESG – The political risk market takes on its biggest challenge yet

Sustainability & Regulation
Q+
14/09/2022 article
Caroline Tran AXA XL Product Leader Europe, Political Risk, Credit & Bond (PRCB)

ESG presents huge opportunities, but also challenges, for the political risk and credit insurance market, according to Caroline Tran, Product Leader Europe, Political Risk, Credit & Bond (PRCB) at AXA XL.

Environmental, social and governance (ESG) investments are increasing at a phenomenal rate. Total global ESG assets surpassed USD 35 trillion in 2020 and are forecast to reach USD 41 trillion by 2022 and USD 50 trillion by 2025, according to Bloomberg Intelligence. Investment in renewable and clean energy alone will need to triple by 2030 to around USD 4 trillion if the world is to achieve net zero emissions by 2050, according to the International Energy Agency

The political risk and credit insurance market finds itself at the forefront of developments in ESG and the transition to Net Zero. ESG-related investments, in particular for renewable energy projects like wind and solar, are driving increased demand for political risk and credit insurance. At the same time, insurers, lenders and corporate are developing criteria to measure the ESG performance of the projects they support, while translating their own climate and sustainability commitments into actions.

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