During its 150th anniversary conference, the International Union of Marine Insurance (IUMI) made the link between loss prevention and the reality of society meeting its decarbonisation goals.
Pascal Dubois, Chair of the IUMI Loss Prevention Committee, reiterated the enormous challenge faced by society and highlighted three key requirements to effect change: financial investment, innovation and long-term political will. However, he argued that this would not be enough unless backed by a comprehensive programme of loss prevention.
Furthermore, he stated that climate change continues to impact daily lives and shared that as a Frenchman living in Paris, he has witnessed floods devastating his homeland and rendering certain areas of France uninhabitable.
He emphasized that everyone is being affected by environmental changes and expressed his belief that society could be overwhelmed by these challenges unless loss prevention is developed and implemented as a prerequisite for addressing climate change. He warned that without loss prevention, the required capital investment would be excessively high and political will might diminish as a result.
Loss prevention is fast becoming much more important than ever before. If implemented intelligently, it will help us maintain a step ahead as we transition to a manageable low carbon future.
… highlighted the Chair of the IUMI Loss Prevention Committee
He also mentioned that shipping has pledged to become carbon-neutral by 2050, which would necessitate a significant change in innovation, technology, and global cooperation.
