Generali China Insurance (GCI) hosted the Green Insurance Facilitating International Development of Energy Transition Forum, highlighting the need for green transformation in China and Europe. This forum emphasised global collaboration to tackle climate challenges and promote green energy and finance.
The speakers, who consisted of academics, executives, regulators, and decision-makers, aimed to advance global dialogue on green energy transition and financial risk management. The collaboration highlights the importance of international partnerships in building a sustainable future.
The event was inaugurated by Giulio Terzariol, CEO of insurance at Generali Group, Yang Kun, executive vice president of the China Electricity Council, and Marco Midolo, first counsellor and head of the Economic and Commercial Office at the Italian Embassy to China. Additionally, H.E. Massimo Ambrosetti, Italian ambassador to China, concluded the forum by delivering a closing speech.
"Climate change has a profound impact on the economy and in our daily lives, touching everything from our environment to the broader social context,” Terzariol said. “The insurance industry is faced with increasing costs due to more frequent and severe natural disasters, leading to higher premiums and reduced availability of coverage in high-risk areas. Meanwhile, the global protection gap continues to grow demonstrating the urgent need to adapt and mitigate the impact of climate change. We know that no single company, government or entity can solve this problem alone. Therefore, we must work to boost collaboration between the public and private sector to significantly accelerate and drive the green transformation and at the same time, support and build global climate resilience. As a key European player operating in the Chinese market and the wider Asia region, we are extremely pleased to host this Forum enhancing global cooperation towards a green transition in both China and Europe.”
"As a responsible company that acts as insurer, investor, employer and corporate citizen, Generali has a robust sustainability strategy, fully embedded in our business with a strong commitment to reduce our own carbon footprint whilst supporting the global climate transition through green and sustainable investments and financing. We also have insurance products covering climate change risks, supporting financial inclusion, and helping to decrease the level of risk exposure to natural disasters through improved prevention measures for greater understanding and awareness," said Lucia Silvia, chief sustainability officer at Generali Group.
Roundtable discussions addressed challenges and opportunities in the global low-carbon transition and highlighted the insurance industry's role in facilitating the transition, including technological innovation.
