Work to develop global guidance which would help insurers to
underwrite environmental, social and governance (ESG) risks is now
underway.
The United Nations Environment Programme (UNEP) Finance
Initiative has begun a worldwide survey, through which it is hoping
to identify the biggest ESG risks for non-life insurers and what
barriers, if any, have prevented the creation of any guidance on
how these risks should be considered within insurance transactions
to date.
The survey is the third and final phase of a consultation
programme begun by the Sustainable Insurance Forum (SIF), an
international group of insurance supervisors and regulators, in
conjunction with the UN's environmental funding programme. The
group is seeking responses from underwriters, brokers, risk
engineers, loss adjusters and other non-life insurance industry
participants until 30 June 2018.
