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Energy
As the world accelerates its transition to renewable energy and sustainable practices, Marsh, a leading global insurance broker, has taken a significant step by appointing Amy Barnes as its new Global Head of Energy & Power. This move is part of Marsh's strategy to enhance its support for clients navigating complex energy transitions and sustainability challenges. In this role, Barnes will not only lead Marsh's global energy and power team but also continue to serve as the Head of Climate and Sustainability Strategy for the company.
Amy Barnes has been a part of Marsh since 2001, when she joined as an environmental consultant. Over the years, she has held several senior leadership positions worldwide, advising clients on risk and insurance issues related to energy transition and sustainability. Before her current appointment, Barnes served as the Energy & Power Leader for the US and Canada, based in Houston. Her extensive experience and deep understanding of the global energy sector make her an ideal candidate to lead Marsh's initiatives in this critical area.
In her new role, Barnes will oversee the strategy and innovation for Marsh's global network of energy and power advisors, risk engineers, and brokers. Her focus will be on helping clients manage complex risks associated with regulatory, market, technology, and reputation challenges as the energy sector moves towards greater sustainability.
Barnes will remain based in London and report to Andrew George, President of Marsh Specialty. This leadership transition comes as George was recently promoted to his new role within the company.
The insurance industry plays a pivotal role in facilitating the transition to a net-zero economy. By providing risk management solutions, insurers like Marsh are essential for renewable energy projects, which require substantial investment and coverage to mitigate risks.
The past year has seen significant increases in premiums for renewable energy projects, with rises ranging from 20% to 40%. These increases are largely due to claims resulting from natural disasters exacerbated by climate change and changing weather patterns. Given the critical nature of this sector, the insurance industry is projected to require at least $10 trillion in additional coverage by 2030 to support the energy, road transport, and building sectors in their transition efforts.
In response to these challenges, the insurance sector is evolving to provide specialized services aimed at supporting clients in the energy and power sector. This includes developing tailored risk management solutions for renewable energy projects, enhancing climate resilience, and facilitating access to capital for green initiatives.
In addition to Amy Barnes' appointment, Marsh has also announced that Andrew Herring will assume the role of Global Chair of Energy & Power, effective January 1, 2026. Herring, who has led the UK energy and power team since 2012, will continue to be based in London. His appointment reflects Marsh's commitment to strengthening its leadership in the energy sector and ensuring continuity in its strategic efforts.
The appointment of Amy Barnes as Global Head of Energy & Power positions Marsh at the forefront of supporting clients in the energy sector's transition towards sustainability. Her extensive experience in climate and sustainability, coupled with her leadership roles in energy transition, make her uniquely qualified to navigate the complexities of this evolving landscape. As the world moves closer to achieving net-zero goals, leaders like Barnes will play crucial roles in shaping the strategies that drive this transition forward.
With these developments, Marsh reinforces its commitment to sustainability and its role in the global energy sector, emphasizing the importance of insurance as a catalyst for climate resilience and sustainable development.
