The world has long passed the point where a gradual and essentially smooth economic transition was possible to achieve the Paris goals and keep the rise in global temperature below 1.5C. Consequently, trade-offs between affordability and insurability – and between our current and sustainable lifestyles – are becoming more challenging.
Since our last quarterly economic update in September, growth momentum has been weakening but remained resilient, disinflation is ongoing and interest rates are plateauing, very much in line with our expectations.
