Long the world’s dominant renewable energy source, hydropower has provided stable, low-carbon energy for communities and countries across the world, but it has come at a high cost to rivers and the people and nature that depend on them.
Hydropower projects are complex and costly infrastructure projects. In most cases, private companies will not engage in the construction of new hydropower projects without insurance coverage, and private investors will insist on relevant insurance being in place before committing to invest. Insurers, therefore, play a key role in facilitating the hydropower sector and their support will be critical in combatting harmful hydropower projects – and helping to tackle the nature crisis.
With the support of the UN Environment Programme’s Principles for Sustainable Insurance (UN PSI), this report is a first-of-its-kind hydropower guide for insurers. It outlines seven key actions for insurers that will help them halt high-impact hydropower and safeguard rivers that are vital for people and nature.