Archived press release

Climate threat to house insurance

5 November 2005

Climate change could cause the number of people at high risk from flooding to rise from 1.5 million to 3.5 million, and some homes and businesses could be uninsurable to flood risk in the future, a new report warns today [1]. Friends of the Earth says that the report by MORE THAN, the direct arm of insurer Royal & Sun Alliance, shows the need for urgent action to reduce greenhouse gases.

Friends of the Earth climate campaigner, Germana Canzi, said:

"This report highlights the enormous economic threat posed by climate change. Better flood defences are obviously required, but urgent action is also needed to reduce carbon dioxide emissions. The Government must show that it is taking this issue seriously by introducing a legal framework to ensure that UK carbon dioxide emissions are cut by three per cent every year. Its current strategy is failing, and emissions are rising. It's time to get it back on track."

"Local authorities and regional assemblies must also set targets for cutting emissions, and ensure that these are central to all their policies. This should

Friends of the Earth says

• The Government should introduce a legal framework to ensure that it UK carbon dioxide emissions are cut by three per cent every year [2]. C02 emissions have increased under Labour and the Government's promise to cut emissions by 20 per cent by 2010, and its commitments under the Kyoto Protocol, are now in jeopardy.
• The Chancellor must take steps in next month's pre-Budget statement to encourage people to take action that reduces carbon dioxide emissions, and discourages them from activities that increase their contribution.
• Regional Assemblies in England and local authorities across the UK must introduce targets for cutting carbon dioxide levels and strategies to achieve this. This must be a key part of Regional Spatial Strategies that are currently being drawn up for each region in England.
• Local Authorities and Regional Assemblies must insist that any new development is low carbon.

Notes

1. The report by More THAN, the direct arm of insurer Royal & Sun Alliance says that:

• Five million people are at risk of flooding in the UK and 1.5 million people are at high risk from flooding.
• Around 200,000 new homes are planned for South East England in flood risk areas.
• The effectiveness of the Thames Barrier is only designed to last until 2030.
• Average flood damage to properties from a significant flood event costs £30,000.

2. www.thebigask.com

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Published by Friends of the Earth Trust