UNEP FI Principles for Sustainable Insurance consultation sails to Oceania

Media advisory
  English version

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11-12 August | Auckland, New Zealand

Oceania is hosting the fourth of seven United Nations-convened regional consultation meetings that make up a global process to develop ground-breaking sustainability principles for the insurance industry. The meeting, taking place from 11 to 12 August in Auckland, is convened by UNEP FI and the global financial sector, and is hosted by Sovereign, New Zealand’s largest life insurer. Once finalised, the UNEP FI Principles for Sustainable Insurance will serve as the global framework for insurance companies to better manage environmental, social and governance risks and opportunities in their core business strategies and operations. The principles will include concrete actions to enhance risk management and underwriting practices, stimulate innovative insurance solutions, and catalyse industry action on a wide range of sustainability issues such as natural catastrophe risks, climate change and extreme weather events, biodiversity loss and ecosystem degradation, ageing populations, emerging health risks and pandemics, human rights and labour standards, and social and financial inclusion. “It’s an ambitious goal, but it’s an achievable goal—and a necessary one,” said Charles Anderson, CEO of Sovereign. “To be successful, the Principles for Sustainable Insurance must be embedded into our everyday business, industry-wide. This meeting is not about talk; it’s about commitment.”

Contact

Butch Bacani
Programme Leader, UNEP FI Principles for Sustainable Insurance and Insurance Commission
butch.bacani [at] unep.org