The mouthpiece for the insurance industry has called on the regulator to overhaul rules to make it easier to invest in green energy projects such as wind farms and solar power. A lack of data about the efficiency of renewable energy ventures makes it difficult for large institutional investors to justify allocating their funds to such projects, the Association of British Insurers said. It added that solvency rules that impose short-term restrictions on how insurers measure the strength of their portfolio were preventing life assurers and pension funds from investing in these longer-term projects. Of more than £1.8 trillion of invested assets in the UK, barely 1.2 per cent is backing greener projects, often referred to as ESG, or environmental, social and governance, assets, according to the ABI.
Times 11th March 2019 read more »
