Climate Change

To assess the consequences of climate change for Munich Re and inform the public about our experiences and assessments, we have carried out various internal and external projects. Examples of these are:

GeoRiskResearch

Munich Re has been researching geoscientific phenomena, their risks and their loss potentials, since-1974. In this time, Geo Risks Research has developed into a globally recognised centre of competence on issues relating to climate change and its effects. You can find our more about Geo Risks Research here.

The challenge of climate change project

The interdisciplinary project entitled "The challenge of climate change" was launched in the spring of 2002. It focused primarily on how Munich Re should adjust to developments and predicted trends and in what form climate change prognoses should be included in corporate decision-making. This project resulted in concrete recommendations for the reinsurance business, asset management, new product and markets areas, which will be implemented in the next few years.

Exclusive partner of the Climate Exhibition at the Deutsche Museum

In order to bring the issue of climate change to the notice of a wide public, Munich Re gave its backing as exclusive partner to the special exhibition Climate. "The Experiment with Planet Earth" held at the Deutsche Museum. The main topics of the exhibition were, for instance, how the climate system functions and the consequences of human intervention in that system. The "Storm warning" brochure, which the company published to coincide with the exhibition, was specifically aimed at a young audience.

Member of the Climate Change Working Group of the UNEP Finance Initiative

Munich Re has been a member of the Finance Initiative of the United Nations Environment Programme (UNEP) since 1999. As a member of the Climate Change Working Group, we are committed first and foremost to making the consequences of climate change known both within the financial sector and beyond it.

Support of the Carbon Disclosure Project

In order to broaden our information base on companies and their approach to possible climate-related risks, we and other institutional investors are lending our support to the Carbon Disclosure Project (CDP). In May 2002, the project called on the 500 largest companies to publish details of their emissions of the main greenhouse gases and provide information on the objectives they had set themselves for reducing those emissions. Within the CDP4 2,100 were asked for their activities in the field of climate change. The responses are collated centrally and published on the CDP website (www.cdproject.net). In view of the size of the investors which have given the project their backing - managing total investments of some €31bn — the Carbon Disclosure Project is a significant step which will focus the attention of the financial markets more closely on the subject of climate change.