WTW ties up with RMI to drive ‘managed transition’ to net-zero

Global broker  WTW has appointed RMI, formerly Rocky Mountain Institute, as a Governance Committee Member for the Climate Transition Pathways (CTP) accreditation framework.

Based in the US, RMI enables the governance committee to have a global approach to helping companies transition to a low carbon economy.

RMI is an independent non-profit organisation which transforms global energy systems through market-driven solutions to align with a 1.5°C future and secure a clean, prosperous, zero-carbon future.

The move follows on from the announcements of other third party groups including Volans, a consultancy responsible for the Bankers for Net Zero initiative, and the Climate Bonds Initiative (CBI), a global investment organisation committed to climate resilience who joined the CTP Governance Committee last year.

The Committee will utilise the Assessment for Low Carbon Transition (ACT) methodology and map the output to a robust accreditation model aligned to the Paris Agreement along with other science-based targets. Organisations that meet these principals can achieve accreditation to ensure continued access to insurance capacity and capital to help them meet low-carbon commitments.

Adam Garrard, global head of risk & broking, WTW, said: “The new geopolitical landscape and the mounting momentum towards achieving Net Zero emissions targets is driving increased interest in moving to a low carbon economy. Today’s announcement further supports a managed transition. But as we have seen, geopolitical events are driving this transition at an accelerated pace. Broadening the global reach of third party groups as part of the CTP initiative can only help organisations to make that transition.”

Kaitlin Crouch-Hess, director at RMI’s Center for Climate-Aligned Finance, added: “RMI is working to accelerate the global financial sector's transition to climate alignment and the financing of a just, equitable, and secure zero-carbon future. Through this exciting opportunity with CTP, we aim to help accredited, climate-focused organisations access financing across both the Global North and Global South.”

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