United Nations Environment Programme Finance Initiative (UNEP FI) launched the Principles for Sustainable Insurance (the ‘PSI Initiative’) on the eve of the Rio+20 Conference in Rio de Janeiro, Brazil. Around 30 insurance companies with total assets of USD 3 trillion are expected to promote the adoption and implementation of the Principles globally. Among the signatory companies for the UNEP FI Principles for Sustainable Insurance are: Aviva (United Kingdom), ING (Netherlands), Itaú Seguros (Brazil), Munich Re (Germany), the Co-operators Group (Canada) and Sompo Japan Insurance (Japan).
The Principles for Sustainable Insurance aim to provide a global framework for risk management in support of environmental, social, and economic sustainability. They include concrete actions for a wide range of sustainability issues facing the insurance business and a holistic approach to managing them, such as natural catastrophe risks, climate change, ecosystem degradation and pandemics.
UNEP FI offers a list of the Principles at http://www.unepfi.org/fileadmin/documents/PSI_document-en.pdf.
By Mihaela Grindeanu, Research Associate
About the United Nations Environment Programme (UNEP): The United Nations Environment Programme (UNEP) was established in 1972 as an outgrowth of a United Nations conference on the environment. The mission of UNEP is “to provide leadership and encourage partnership in caring for the environment by inspiring, informing and enabling nations and peoples to improve their quality of life without compromising that of future generations.” It works with international organizations, government, the private sector and civil society to protect natural resources worldwide.
The UNEP Finance Initiative is a partnership between UNEP and the global financial sector that seeks “to identify, promote, and realise the adoption of best environmental and sustainability practice at all levels of financial institution operations.”
Sources and Additional Resources:
Unepfi.org story: “Principles for Sustainable Insurance Launch”, http://www.unepfi.org/events/2012/rio20_psi/index.html
Unep.org story: “UN and Insurers Launch Global Insurance Principles to Propel Sustainable Development”, http://www.unep.org/NewsCentre/default.aspx?DocumentID=2688&ArticleID=9183&l=en
MicroCapital.org story, September 26, 2012: “MICROCAPITAL BRIEF: “Istanbul Declaration” Proposes Discussion of Income Inequality, Women’s Empowerment, Environmental Sustainability at United Nations (UN) “Rio + 20” Conference in Brazil in June”, https://www.microcapital.org/microcapital-brief-istanbul-declaration-proposes-discussion-of-income-inequality-womens-empowerment-environmental-sustainability-at-united-nations-un-rio-20/
MicroCapital.org story, September 24, 2011: ‘MICROFINANCE EVENT: United Nations Environment Programme Finance Initiative 13th Global Roundtable, “The Tipping Point: Sustained stability in the next economy”, Washington, DC, October 19-20, 2011’, https://www.microcapital.org/microfinance-event-united-nations-environment-programme-finance-initiative-13th-global-roundtable-“the-tipping-point-sustained-stability-in-the-next-economy”-washington-dc-octobe/
MicroCapital Universe Profile: United Nations Environment Programme (UNEP), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+Nations+Environment+Programme+%28UNEP%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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