Insurance giant Zurich has announced that it wants to adapt its products and services to take account of any potential impact global climate changes may have on its business.

It launched its 'global initiative' saying that it wants to develop its business to address the "evolving risk" of climate change and establish a longer-term carbon footprint-reducing programme.

The broad range of measures it hopes to introduce includes, an internal climate officer who will be responsible for assessing climate related risks across its businesses.

It will also establish a climate change advisory council, which will have both internal and external advisors.

James Schiro, Zurich's chief executive officer, said: "Kicking-off our global Climate Initiative today, I am convinced, sets Zurich on the course of becoming a leader in the identification and management of climate related risks, as well as preparing us to take meaningful and sustainable steps to manage our own carbon footprint."

Mike Kerner, who will be reporting directly to the climate officer, said that the risks associated with rising sea levels "go well beyond climate change".

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