We are proud to announce that we have recently signed on to United Nations Principles for Sustainable Insurance (PSI). UNEP’s Principles for Sustainable Insurance (PSI) serve as a global framework for the insurance industry to address environmental, social and governance (ESG) issues—such as climate change, biodiversity loss and ecosystem degradation, pollution, and social inequality—as risk managers, insurers, and investors.
Founded in 1992, UNEP’s Finance Initiative (UNEP FI) is a partnership between UNEP and the global financial sector to mobilise private sector finance for sustainable development. FSD Africa joins more than 360 members—banks, insurers, and investors—and over 100 supporting institutions—to help create a financial sector that serves people and the planet while delivering positive impacts.
We have unique experience and understanding of African financial markets. Therefore, this membership will enable us to link and apply the global Principles for Sustainable Insurance to the African insurance industry. We will use our intellectual, operational, and capital capabilities to implement the four Principles across our spheres of influence to contribute to building resilient, inclusive, and sustainable communities and economies on a healthy planet.
As experts in managing long-term complex risks, the insurance industry has an important leadership role to play in helping the financial industry and society more generally sustainably navigate complex ESG risks. The UNEP PSI provides the principles and tools to enable the insurance industry to do just this. FSD Africa is thus committed to supporting the implementation of these principles in the African insurance industry as part of our commitment to creating a sustainable and resilient future.
Mark Napier – CEO, FSD Africa