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Sustainability Committee

The Sustainability Committee held a strategic discussion on its objectives and future positioning in response to evolving market and economic conditions. Members noted that the committee’s original regulatory-driven focus has shifted, with sustainability activities now dispersed across managing agents, and reaffirmed its value as a forum for best-practice sharing, peer discussion, and collective thinking. There was consideration of aligning outputs more closely with the LMA Chief Underwriting Officer (CUO) Committee to enhance relevance to underwriting priorities. As a tangible outcome, the committee agreed to develop a paper for the CUO Committee outlining how sustainability considerations intersect with underwriting strategy, how the committee can provide structured input into CUO priorities, and how themes can be framed to be commercially and operationally meaningful. Potential thematic areas for further development include insurability and protection gaps, adaptation and resilience in underwriting and product design, and the intersection of AI and sustainability. Members emphasized the importance of distinguishing the committee’s role from that of the Climate Risk Working Group, focusing instead on complementarity, collaboration with external bodies, and cross-market resilience. The annual committee effectiveness review highlighted a need for clearer direction, tangible outcomes, and annual thematic objectives, alongside stronger Lloyd’s engagement and coordination with other committees. Strategic priorities identified include AI and sustainability, human rights considerations, insurability, transition management, climate impact assessment, and longer-term market perspectives. The agenda concluded with an open forum for members to raise any issues or concerns.