The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
ESG

Pandemics – another reason to stop financing deforestation and climate change

Zoonotic diseases will rise due to deforestation, says Zurich Insurance Group’s head of sustainability risk, while one report shows key financial institutions have yet to adopt deforestation policies.

deforestation-trees-chopped-780.jpg



John Scott, head of sustainability risk for Zurich Insurance Group, called for greater pandemic preparedness and prevention in light of an increasing frequency of outbreaks, in an article for the World Economic Forum this week.

“Our business is in managing risk, and we want to support preparedness and prevention in any way we can,” Scott tells Euromoney.

The S&P Insurance Select Index has lost 10.7% since the start of the year compared with an 8.1% loss in the S&P 500 (as of Monday). 

The case for pandemic preparedness has been argued for many years.

In 2016, the Commission on a Global Health Risk Framework for the Future recommended $4.5 billion annual investments worldwide to shore up national health systems, fund research and development, and finance contingency efforts.

John_Scott-160x186.jpg

John Scott, Zurich
Insurance Group
 

Scott says while investments in technology as well as health care systems would help with preparedness, one way to decrease the risk of pandemics would be to prevent climate change and deforestation, highlighting biodiversity loss and climate change as a cause of the increase in disease spread.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree