July saw the launch of several initiatives by companies looking to step up their ESG credentials. A selection of the most notable announcements are collated below
The speed, scale and scope of nature and biodiversity loss present new risks and opportunities for (re)insurers, as an emerging ‘medium category’ environmental risk with significant potential impacts within the next five years, according to the Geneva Association.
Higher ESG ratings lead to better underwriting performance, according to a joint study from Howden and Fidelis which confirmed a correlation between strong climate rankings and lower loss ratios.
German reinsurer Munich Re and Japanese insurance holding company Sompo Holdings both feature in the new ‘Top 100 ESG Companies’ ranking by ESG Book, a provider of sustainability data and technology.
COP27 was billed as the Implementation COP, the climate conference where we finally move from talk to action.
ESG issues have undoubtedly climbed up the list of key business priorities for (re)insurers. To date, most of the actions taken by the industry have centred around internal operations and meeting regulatory requirements, with a focus on the asset side of the balance sheet.
As ESG matters are reshaping the future of insurance, senior financial leaders are being asked to help set the direction for the business. Chief financial officers will play a vital role because ESG is not just a compliance exercise, but rather an imperative to mitigate severe risks, create long-term value ...
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