International insurance regulators establish Sustainable Insurance Forum

1-2 December, 2016 San Francisco, USA | Sustainable Insurance Forum

At the beginning of December 2016, UN Environment convened insurance regulators and supervisors from around the world to launch the Sustainable Insurance Forum for Supervisors (SIF). The event was co-hosted by UN Environment and the California Department of Insurance. The SIF is a groundbreaking initiative to strengthen insurance regulators’ understanding of and responses to sustainability challenges, as well as the opportunities for the insurance business. The SIF is a joint initiative of the Principles for Sustainable Insurance (PSI), the global framework created by UN Environment Finance Initiative, and UN Environment’s Inquiry into the Design of a Sustainable Financial System (Inquiry).

The insurance sector is pivotal to an effective response to sustainable development. This includes providing coverage against natural disasters as well as integrating environmental, social and governance (ESG) factors into the management of their assets.

Increasingly, insurance regulators and supervisors are exploring how these factors impact upon their goals of ensuring the safety, soundness and accountability of the sector. For the first time, the Forum provides an international platform for insurance regulatory and supervisory bodies to share experience and explore common approaches.

For more information see the UN Environment press release and read UNEP FI’s Butch Bacani’s blog on the creation of the Sustainable Insurance Forum.