As risk managers, insurers and investors, the insurance industry plays an important role in addressing environmental, social and governance (ESG) issues in Life & Health. As part of UNEP FI’s mission to support insurers align their business with ESG standards and sustainability objectives, the Principles for Sustainable Insurance (PSI) Initiative together with HSBC Life have developed the first-ever ESG guide for the global Life & Health insurance industry.
Providing recommended guidance to insurance industry participants, this guide includes approaches to evaluate the potential impact of ESG risks on underwriting risks in the Life & Health insurance business from both individual and group business perspectives. It was developed with 12 leading insurers from across the globe and builds on a global survey and a public consultation process with market participants.
This publication follows the ESG guide for non-life insurance report launched in 2020.