More and more investors in China, including insurers and pension funds, are considering ESG and sustainability risks in their portfolios, and a number of trends point to rising interest in this topic.
The Task Force on Green Insurance, formed by the Hong Kong Federation of Insurers (HKFI), is currently strategising efforts on climate data analysis and a climate reporting framework.
Twenty influential business and finance peak bodies, including the Insurance Council of Australia (ICA) and the Financial Services Council (FSC), have come to an unprecedented consensus on the need for sustainability reporting including action on climate risk through a new reporting regime that aims to set a global baseline.
The Insurance Federation of Egypt (IFE) has announced that it is cooperating with the Financial Regulatory Authority (FRA) to develop a sustainable strategy for the Egyptian insurance market.
IAG, Australia and New Zealand's largest general insurer, whose brands include NRMA Insurance, CGU, AMI, State and NZI, has joined the United Nations convened Net-Zero Insurance Alliance (NZIA) as part of its overall commitment to achieving net zero.
Ping An Insurance (Group) Company of China has been rated as low ESG risk by Amsterdam-headquartered Sustainalytics, that rates the sustainability of listed companies based on their ESG performance.
Taiwan's Financial Supervisory Commission (FSC) has unveiled its programme to encourage the insurance industry to undertake investments in six core strategic industries, public investment projects, long-term care business and sustainable development bonds.
Singapore's planned sale of up to S$35bn ($25bn) in 'green bonds' over the period to 2030 will help to develop the country's sustainable financing capabilities, says Fitch Ratings.
The Hong Kong Federation of Insurers (HKFI) says that it is working full steam to prepare an industry charter, a reporting framework for our market and a model for the aggregation of climate-related data / cross-industry climate risk collaboration.
Sun Life Malaysia Takaful has launched a new fund that it states is the first Shariah-compliant, investment-linked, takaful environmental, social and governance (ESG) fund for the Malaysian Islamic insurance market to meet the growing appetite for takaful solutions that support ESG principles.