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ESG: Climate Change Risks Raising South Africa Premiums
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Overview
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South African insurance company Old Mutual expects an increase in premiums and reinsurance costs due to climate change. Customers could see a 10% rise in premiums this year. Old Mutual's investment arm voiced concerns about a company like Sasol Ltd. due to its poor record on climate targets.
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How might the rise in premiums and reinsurance costs impact the insurance industry in South Africa?
What measures can South Africa take to mitigate the impact of climate change on its economy?
What steps can companies like Sasol Ltd. take to improve their record on climate targets?
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