On Saturday, following two weeks marked by dramatic rhetoric and intense negotiations over legal language, close to 200 Governments bridged a deep global divide and agreed on the set of rules meant to steer countries worldwide in implementing the historic 2015 Paris Agreement on climate change. UNEP FI’s Climate Lead, Remco Fischer gives more […]
UN Environment’s Finance Initiative (UNEP FI) announced today a partnership with 16 of the world’s largest insurers—representing around 10% of world premium and USD 5 trillion in assets under management—to develop a new generation of risk assessment tools designed to enable the insurance industry to better understand the impacts of climate change on their business. This understanding is vital for an industry whose core business is to manage risk.
Finance sector commits to working together to develop Sustainable Finance Roadmaps for Australia & New Zealand Finance sector organisations – including banking, insurance and investment industries, representing over 300 institutions with $10 trillion in assets – have today released a joint statement in support of a sustainable financial system for Australia and New Zealand.
After a year-long global consultation involving insurance industry leaders, mayors and other local government leaders, and key stakeholders, the Insurance Industry Development Goals for Cities were launched in Montréal on 22 June at the ICLEI World Congress 2018. The goals set the global agenda for the industry and cities in the context of economic, social and environmental sustainability—or sustainable development.
Latin America’s largest insurance market declares support for promoting dialogue on practical and effective ways to meet the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures Brazil has made an unprecedented commitment to climate risk transparency by becoming the first insurance market in the world to declare its commitment to […]
Environmental, social and governance (ESG) issues—also known as sustainability issues—pose a shared risk to insurers, communities, businesses, cities, governments and society at large, providing a strong incentive for innovation and collaboration. Examples of ESG issues include natural disasters, pollution, carbon emissions, degradation of natural resources, illegal fishing and logging, child and forced labour, negative impacts […]
Geneva/Cape Town/Johannesburg, 9 April 2018—The United Nations and Santam, South Africa’s largest general insurer, will co-host this month the first African conference of UN Environment’s Principles for Sustainable Insurance Initiative (PSI), which will focus on strengthening the industry’s ability to contribute to sustainable development across the continent. The conference, which will be held from 16 […]
The Climate Insurance is the first-ever online database on climate risk and a recent collaborative effort to promote risk transfer and insurance as an approach to more effectively manage the increasing number of disasters and their impacts on vulnerable communities. The database shares the experiences of numerous international organizations in the field of risk transfer […]
On 13 November 2017, the European Commission launched a public consultation on Institutional investors and asset managers’ duties regarding sustainability. Running until 22 January 2018, the consultation seeks evidence on: How clarifications or amendments to investor duties can contribute to more efficient allocation of capital and to more sustainable and inclusive growth; How to ensure […]
As world leaders, business and civil society come together in Bonn for the 2017 UN Climate Change Conference (COP23)—which is the next step to implement the Paris Agreement on Climate Change—important developments are taking place within the global insurance industry and insurance regulatory and supervisory community to support the transformation to a resilient, inclusive and […]
27 October, 2017 UNEP FI is very pleased to welcome leading commercial insurer Zurich Insurance Group as a signatory to the Principles for Sustainable Insurance, and a member of UNEP FI. Group Chief Executive Officer Mario Greco said, “At Zurich, we are proud of the steps we have taken to incorporate environment, social and […]
06 October 2017 Leading insurers from around the world have committed to take action on pirate fishing, an unlawful practice that costs the global economy tens of billions of dollars in losses every year and contributes to overfishing and the destruction of vital marine habitats and ecosystems. Allianz Global Corporate & Specialty, AXA, Generali, Hanseatic […]
31 August, 2017 An unprecedented global partnership has been forged to promote inclusive and sustainable insurance markets around the world and to help achieve the UN Sustainable Development Goals. UN Environment Finance Initiative’s Principles for Sustainable Insurance Initiative and the Microinsurance Network join forces to help achieve the UN Sustainable Development Goals. The Microinsurance Network, the […]
Key sustainability factors are now recognized as potentially significant for the success, safety and soundness of the insurance sector – inspiring reactions by supervisors and regulators. As a risk manager, risk carrier and investor, the global insurance sector plays a cornerstone role in the management of sustainability-related risks and opportunities. The risk transfer tools of […]
Last June, the Bank of England, the central bank of the UK, released an article on its response to climate change, as part of its second quarter 2017 bulletin. Climate change, and society’s responses to it, present financial risks which impact upon the Bank of England’s objectives. The Bank’s response has two core elements. First, […]
The Microinsurance Network held its annual member meeting in the Grand Duchy of Luxembourg on 27 and 28 June. At the meeting, microinsurance experts from across the globe concluded that insurance has a critical role to play in helping vulnerable people around the world manage their risks. As a financial shock absorber and an enabler of […]
UNEP FI is pleased to welcome the first insurance company and 22nd financial institution to join the Positive Impact Initiative. Aviva is the UK’s largest insurer with a long-standing tradition of engagement, including with global policy-makers, in relation to the challenge of financing the Sustainable Development Goals (SDGs). “The SDGs have to become a defining element […]
53 investors, health systems, pension funds and insurers, representing US$3.8 trillion in assets under management, have signed a statement to World Health Organization (WHO) representatives and national health ministers openly supporting stronger regulation around tobacco control. The statement was released today, on World No Tobacco Day – marked every year on 31 May. Its purpose […]
The first -ever summit “Insuring Resilient and Sustainable Cities Summit” – convened by the UN Environment’s Principles for Sustainable Insurance (PSI) Initiative and ICLEI – Local Governments for Sustainability – and held on 5 May in Bonn, Germany concluded with the “Bonn Ambition”. “The Bonn Ambition”, which is an agreement between the members and stakeholders […]
Dongbu Insurance has signed on to the Principles for Sustainable Insurance Initiative, becoming the second Korean insurer to become a UNEP FI member. Dongbu Insurance is one of Korea’s leading general insurance providers with overseas operations in the US, London, China, Myanmar, Indonesia, and Vietnam. “Dongbu Insurance aims to carry out various activities, including […]