Insurance Society to Team with UNEP for Sustainable Insurance

The International Insurance Society’s (IIS) annual conclave in June in Rio de Janeiro will see the launch of an initiative in partnership with the United Nations Environment Program Financial Initiative (UNEP FI) of the “Principles for Sustainable Insurance.”

The IIS said the Principles initiative “has been designed to dovetail with the UN Conference on Sustainable Development (or “Rio+20 Conference”) taking place in Rio from June 20-22, 2012.” It consists of a “global best practice framework to address environmental, social and governance risks and opportunities in the insurance business.

“The launch will also mark the start of the UN’s partnership with the insurance industry to promote, adopt and implement the Principles worldwide. The development of the Principles is being led by global insurers that are members of UNEP FI. The Principles represent a landmark contribution and long-term commitment of the global insurance industry to build a green economy and advance sustainable development. These aims fully support those of the UN’s Rio+20 Conference.”

IIS Chairman Norman R. Sorensen commented: “Together with our Brazilian hosts represented by CNseg, the IIS is delighted to partner with the UNEP FI to launch the pioneering Principles for Sustainable Insurance at the upcoming Seminar in Rio de Janeiro.”

Michael J. Morrissey, IIS President and CEO, added: “Seminar delegates will have a unique opportunity to take part in this groundbreaking initiative that is particularly relevant in the current environment and also consistent with the theme of our seminar, Insurance Frontiers: Sustainability and Innovation in Emerging Markets.”

Source: International Insurance Society