British insurance company RSA has unveiled new low-carbon underwriting policy and aims to achieve an underwriting portfolio for energy production that is over 75% low carbon by the end of this decade.

Effective 1 January 2023, the new underwriting policy will make use of independent and verifiable climate data and metrics to measure portfolio performance and inform underwriting and portfolio management processes.

RSA, as part of the new policy, intends to rebalance underwriting portfolio towards Net-Zero energy production by offering Renewable Energy service for clients.

RSA UK&I CEO Ken Norgrove said: “It’s never been clearer that urgent action is needed to tackle the climate crisis. At RSA, we’ve long been committed to responsible business and doing what we can to help protect our clients, our environment and the societies in which we live and work. The launch of this new low-carbon underwriting policy furthers that commitment.”

RSA, which was acquired by property and casualty insurance company Intact Financial Corporation (IFC), said the new policy will leverage IFC’s experience to increase focus on adaptation in the communities and geographies where it operates.

RSA underwriting strategy and delivery head Michael Gregory said: “Having exceeded the targets we set out under the low-carbon underwriting policy that was implemented in late 2019, today we have the confidence to push ourselves and our business even further, establishing achievable criteria that are among the most progressive in the industry.”