Unlocking Hidden Climate Finance Levers

At this SF Climate Week event hosted at Visa’s Global HQ, Premiums for the Planet convened a timely conversation on one of the most underutilized tools in corporate sustainability: insurance. While much of the climate finance conversation centers on banks and investments, insurance remains a blind spot for many businesses, despite representing trillions in capital.

Moderated by Patrick Flynn, founder of Switchboard and former Global Head of Sustainability at Salesforce, the panel explored how financial decision-makers can use tools like insurance, retirement plans, and endowments to accelerate climate action. The discussion emphasized that insurance is not just a cost of doing business, it’s a climate lever. Premiums for the Planet makes it easy for companies to use their insurance spend to lower costs, close gaps in coverage, improve resilience, and fund a cleaner future.

Top Three Takeaways

• Insurance is part of the climate finance puzzle. Businesses are already spending large sums on insurance premiums. Where those dollars go, and what they fund, can either reinforce the fossil fuel status quo or accelerate the clean energy transition.

• It’s easier to act than you think. Premiums for the Planet helps companies align their insurance with their values without switching carriers or disrupting operations. Meanwhile, tools like climate-aligned retirement plans and mission-driven endowments offer other powerful entry points.

• Collective action is key. When policyholders, brokers, and financial leaders align their decisions, the ripple effect can shift markets. No single lever is enough on its own, but together they can create systemic change.
  

What the Panelists Said

Patrick Flynn (Moderator, Switchboard)
Patrick opened the conversation by reframing climate change as a capital misallocation problem. He noted that companies often overlook the systems-level impact of insurance, retirement accounts, and banking relationships. He praised Premiums for the Planet for offering a “high-leverage, low-friction” way to drive change through insurance.

Brad Stevenson (Founder and CEO, Premiums for the Planet)
Brad explained how PFP helps businesses unlock the hidden value in their existing insurance spend. Members often find overlooked coverage gaps, opportunities to reduce premiums, and ways to use insurance as a tool for long-term business resilience. “This isn’t about spending more,” he said. “It’s about spending smarter—on coverage that protects your business and your future.”

Dan Chu (Executive Director, Sierra Club Foundation)
Dan discussed the Foundation’s Shifting Trillions initiative, which aims to move massive amounts of capital away from carbon-intensive sectors and into climate solutions, resilience, and justice. He highlighted insurance as a critical but often forgotten part of that strategy, and explained why SCF became a member of Premiums for the Planet to help lead by example. “PFP made it easy for us to align our insurance with our mission,” Dan said.

Breene Murphy (President, Carbon Collective)
Breene focused on another overlooked area: employer retirement plans. He explained how default 401(k) and 403(b) options are often invested in fossil fuels, even at climate-conscious companies. He emphasized that climate-aligned retirement plans can meet fiduciary standards while supporting long-term sustainability goals. “It’s not about sacrifice,” he said. “It’s about making your financial tools match your mission.”

How to Take Action Now

Premiums for the Planet
If you're a business leader, sustainability professional, or finance decision-maker, you can join Premiums for the Planet at no cost. Membership gives you access to climate-aligned insurance insights, expert reviews of your current policies, and opportunities to lower costs while improving coverage and resilience.
→ Join Premiums for the Planet

Sierra Club Foundation
Institutional investors, foundations, and mission-driven organizations can explore the Shifting Trillions initiative to align their endowments, grants, and insurance portfolios with climate and justice values. The Sierra Club Foundation is advancing tools and frameworks to make this transition easier and more impactful.
→ Learn more about Shifting Trillions

Carbon Collective
If you manage employee benefits or advise on retirement plans, Carbon Collective offers climate-aligned 401(k) and 403(b) options that meet fiduciary standards without funding fossil fuel expansion. Their investment products are designed for performance and aligned with the future your company is working to build.
→ Explore climate-aligned retirement plans

Switchboard
For executives and sustainability leaders looking to connect with trusted peers and unlock strategic insights, Switchboard curates intimate gatherings and conversations at the intersection of business and climate action.
→ Join the Switchboard community