Many commentators have suggested a ‘negative split’ (acceleration in progress between 2030 to 2050) is required to meet the second leg of the journey. The insurance business model, much like many financial service companies, is underpinned by trust. Between now and 2030 this will undoubtably be tested as we see greater transparency on progress against these targets as sustainability disclosure frameworks and taxonomies such as the EU Corporate Sustainability Reporting Directive (CSRD) go ‘live’.
As 2030 rapidly approaches, we also need to be mindful of the looming spectre of ‘Green Swans’—unpredictable and unforeseen events that cause drastic environmental impact. The paradox, then, isn’t just to achieve 2030 sustainability targets but rather, how to plan for ‘un-plannable’ risks while also working diligently towards these substantial goals. One answer: to adopt a futurist perspective – an outlook bolstered by foresight and obligation to prospective contingencies.
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