‘How do you take lessons from the disrupted technology companies and building habits techniques?’

Published June 2021

Culture eats sustainability for breakfast

By Gus Badran and Servaas Houben



In line with the Paris agreement, the insurance sector has decided to give climate risk a formal role in the Solvency II framework. Although the inclusion of climate risk in Own Risk and Solvency Assessment (ORSA) and standard formula will induce insurance companies to be more aware of the effects of climate risk, the authors believe that without a change in culture it will be hard to embed climate risk into the DNA of insurance companies. Besides regulatory incentives like capital relief, a change in habits is required to not merely comply, but excel on the topic of sustainability.


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This article represents the opinion of the authors, and not necessarily the opinion of the AAE.


This article was published in The European Actuary No. 26 – June 2021

The European Actuary Magazine