Launched at the 2012 UN Conference on Sustainable Development, the UNEP FI Principles for Sustainable Insurance (PSI) serve as a global framework for the insurance industry to address environmental, social and governance risks and opportunities. The PSI initiative is the largest collaborative initiative between the UN and the insurance industry.
Pioneering work by the PSI initiative includes the Net-Zero Insurance Alliance, the Sustainable Insurance Facility of the Vulnerable Twenty Group of Finance Ministers (V20), research on nature-positive insurance, development of Environmental, Social and Governance (ESG) guides for insurers as well as work supporting the implementation of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and relevant to emerging frameworks such as the Task Force on Nature-related Financial Disclosures (TNFD).
What is Sustainable Insurance?
Sustainable insurance is a strategic approach where all activities in the insurance value chain, including interactions with stakeholders, are done in a responsible and forward-looking way by identifying, assessing, managing and monitoring risks and opportunities associated with environmental, social and governance issues. Sustainable insurance aims to reduce risk, develop innovative solutions, improve business performance, and contribute to environmental, social and economic sustainability.
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Net-Zero Insurance Alliance Launches Public Consultation on Version 1.0 of the Alliance’s Target-Setting Protocol
The UN-convened Net-Zero Insurance Alliance (NZIA) has launched a public consultation on the Alliance’s first Target-Setting Protocol. This inaugural Protocol outlines NZIA’s recommended approach to target-setting and reporting, as well ...Read more
Farmers Insurance Exchange Becomes First U.S. Insurer to Sign the U.N. Principles for Sustainable Insurance
Los Angeles/Geneva, November 2, 2022—The United Nations-convened Principles for Sustainable Insurance Initiative (PSI) welcomes Farmers Insurance Exchange as the first insurer based in the United States—the world’s largest insurance market— ...Read more