Etiqa has become the first insurer in Malaysia to sign on to the United Nations' Principles for Sustainable Insurance (UN PSI) under the UN Environment Programme Finance Initiative (UNEP FI).
The capacity of financial institutions to deal with climate risk is greater today than it was a few years ago as climate and sustainability have become a core part of many organisations' decision-making and work processes.
Most insurers in Malaysia confirm that they have already started to draw up their own processes to include environmental, social and governance (ESG) in their underwriting and investment strategies as well as in their operations, the "Malaysian Insurance Highlights", released last week.
The impact of environmental, social and governance (ESG) considerations on the credit strength of most insurers in the Gulf Cooperation Council (GCC) countries is neutral to low, according to Moody's Investors Service.
The Australian Prudential Regulation Authority (APRA) has said that it would consider how it might strengthen consideration of inclusion and diversity across its regulated industries as part of this year's review of the Prudential Standard on Governance ('CPS 510').
The insurance industry can contribute to the sustainable transition of marine-related business and support conservation of the marine environment. But developing blue insurance in China means first addressing the triple challenges of technology, law, and policy, says Ms Chen Qianming is a researcher at the International Institute of Green Finance, Central University of Finance and Economics, Beijing.
Ping An Property & Casualty Insurance (Ping An P&C) has launched its first ocean carbon sink index insurance policy in the city of Dalian, announced Ping An Insurance (Group) Company of China).
Putting nature at the heart of its strategy demonstrates AXA XL's ambition to be an industry leader in protecting biodiversity to promote resilient ecosystems as well as supporting community livelihoods.
Bajaj Allianz Life Insurance has launched its Sustainable Equity Fund for investors to promote investments in companies that are socially responsible and have been evaluated on Environment (E), Social (S), and Governance (G) factors. The fund will be made available in relation with the insurer's flagship unit-linked insurance plans.
Eight of the world's leading marine insurers have gathered and published client data to track their hull and machinery insurance portfolio's climate impact in a landmark climate report. The goal is to support the industry's green transition.