By Paul Homewood

h/t Dennis Ambler 

Prince Charles is sticking his nose into business that should not concern him again:

“Chief executives of 17 major insurers join new taskforce designed to explore how the insurance sector can accelerate progress towards a zero emission economy

Prince Charles has launched a new task force under the banner of his Sustainable Markets Initiative to bring together the CEOs of some of the largest insurance companies to explore how to accelerate the transition to a nature positive and net zero emission economy.

The heir to the throne officially launched the Sustainable Markets Initiative (SMI) Insurance Task Force yesterday on a visit to UK insurance giant Lloyd’s, which will chair the group.

Specific new offerings could include adapting and expanding coverage for offshore wind projects in a bid to accelerate the clean energy sector’s growth, and introducing ‘build back better’ claims clauses in home insurance policies to encourage customers to ensure damaged homes are rebuilt in line with environmental best practices, the group said.”

This is actually worse than his usual pontificating, because he is actively colluding with the insurance industry to alter their business practices.

Build back better clauses, for instance, will simply put up insurance policy costs, to the detriment of householders.

As for the bit about offshore wind, I am a bit confused! Surely offshore wind costs are so low, that companies would be queuing up to build them, without any encouragement from Charlie?


June 27, 2021