AXA XL has announced a partnership with London GreenCity, the United Kingdom’s first accelerator dedicated to development-stage climate technology entrepreneurs.
The collaboration aims to provide members of the accelerator with expertise in insurance and risk management.
London GreenCity focuses on fostering innovation in technologies that address the causes and effects of climate change. The accelerator supports ventures in areas such as renewable energy, battery storage, transport, agriculture, the built environment, and the financial mechanisms enabling a transition to a low-carbon economy.
Based in London, the accelerator offers a collaborative space designed to aid the development and scaling of early-stage climate tech solutions.
Sean McGovern (pictured above), AXA XL’s UK and Lloyd’s CEO, emphasised the role of insurance in facilitating the energy transition.
“Insurance is an enabler of the energy transition, and we are delighted through our partnership with London GreenCity to be able to provide our risk management expertise and to support the unlocking of finance to power the growth of these exciting early-stage climate tech businesses,” McGovern said.
Laith Anezi, co-founder and general partner of London GreenCity, highlighted AXA XL’s involvement as a significant step toward advancing the clean energy transition.
“AXA XL’s belief in our mission to be the largest, development-stage climate tech accelerator in the UK is not just a testament to its leadership in sustainability, it’s a powerful step towards driving the global clean energy transition. Together, we can make a difference that will resonate for generations to come,” Anezi said.
London GreenCity also benefits from a memorandum of understanding (MOU) with several leading UK universities. This agreement allows members access to advanced machinery and facilities, supporting the development of cutting-edge climate technologies.
Earlier this month, AXA XL also announced funding for an 18-month research project led by the Institute for Science, Innovation and Society (InSIS) in partnership with the Smith School of Enterprise and Environment at the University of Oxford.
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