The launch of the accreditation framework was announced by the broker in May, with Liberty Specialty Markets named as the first major insurer to commit capacity at the beginning of September.
The framework measures the decarbonisation strategies of companies against criteria from the 2015 Paris agreement, which seeks to limit global warming to 1.5oC above pre-industrial levels.
Across the market, there is an increasing focus on sustainable underwriting, with a host of carriers having committed to transition their portfolios towards carbon neutrality.
Last week, Hannover Re became the latest major player to commit to becoming carbon neutral, releasing targets to achieve net-zero emissions across business operations by 2030, and a net-zero reinsurance and investment portfolio by 2050.
Head of natural resources at Willis Graham Knight said: “Today’s announcement is another step towards ensuring we can provide continued access to insurance for companies committed to transition, as well as a greater level of certainty around the future availability of risk capacity.”
Scor’s chief underwriting officer for specialty insurance Olivier Perraut added: “We believe this climate transition pathway approach is an important way to support our clients in their own commitments to follow credible transition pathways as they transform their business model and align to the objectives of the Paris agreement.”
