As climate-related natural catastrophes make parts of the world uninsurable, insurers are also facing twin pressures from regulators and demanding customer base. Insurance options for carbon intensive companies are also shrinking. New solutions do offer a way forward but more needs to be done by the insurers.
Investment in clean energy technologies is significantly surging ahead of the spending on fossil fuels according to a new report by International Energy Agency (IEA).
The European Council (EC) has adopted a 'negotiating mandate' on the proposed directive to empower consumers for the green transition, which aims at enhancing consumers´ rights by amending the unfair commercial practices directive (UCPD) and the consumer rights directive (CRD).
MS&AD Insurance Group Holdings (Aioi Nissay Dowa Insurance, Mitsui Sumitomo Insurance), Sompo Japan Insurance, Tokio Marine & Nichido Fire Insurance and Nippon Life Insurance have concluded a memorandum of understanding to carry out joint studies on business initiatives to develop sustainable finance.
The National Insurance Commission (NAICOM) is encouraging insurance companies to reduce their environmental footprint in their internal operations and business activities.,
The deprioritising of social and environmental initiatives by small and medium-sized enterprises (SMEs) in Singapore is potentially leading to worsening workplace safety and health (WSH) performance, according to QBE Insurance's yearly survey that examines the key concerns and challenges faced by SMEs in Singapore.
The Australian Prudential Regulation Authority (APRA) is content at the moment to raise awareness of diversity, equity and inclusion (DEI). However, the regulator is also considering how it can strengthen this aspect as part of upcoming reviews of Prudential Standards relating to governance and risk management.
Beyond benefiting the planet and the society, sustainability and environmental, social, and governance (ESG) measures correlate with financial performance and enhance companies' profits according to a new research.
Aon, a leading global professional services firm, yesterday announced the launch of a new climate innovation hub in Singapore. Supported by the Singapore Economic Development Board (EDB), the hub will help Aon's clients around the world navigate environmental risk and opportunities.
The government has announced a flood and cyclone recovery package of around NZ$1bn ($625m) as part of Budget 2023 that covers the basics of rebuilding roads, rail and schools while preparing for future events with a big investment in flood protection measures.