Principles for Sustainable Insurance

What are the Principles for Sustainable Insurance?
A global framework putting social, environmental and economic issues at the heart of risk management.  The Principles are led by the UnitedNations and are:

We will embed in our decision-making environmental, social and governance issues relevant to our insurance business.  We will work together with our clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions. We will work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues. We will demonstrate accountability and transparency in regularly disclosing our progress in implementing the Principles.

Why does the Financial Services Council support the Principles for Sustainable Insurance?
The Financial Services Council represents life insurance companies in New Zealand.  Insurance is a promise to pay at a future date, and we believe that the Principles provide a framework for the long term future of the insurance industry.

Each of our current initiatives is for the benefit of consumers, community, our economy and the insurance industry.


Where Can I Find Out More Information about the Principles for Sustainable Insurance?

http://www.unepfi.org/psi/


How will the Financial Services Council Embrace the Principles for Sustainable Insurance?
The Financial Services Council became a Supporting Institution to the Principles for Sustainable Insurance in December 2012.  Our goal is to embed the Principles across the industry and work is now underway to produce a long-term strategy to achieve this goal.

In addition, to show that we are “walking the talk”, we are currently reviewing our business practices with the aim of reducing our own environmental impacts.