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Nairobi Declaration on Sustainable Insurance

Nairobi Declaration on Sustainable Insurance
In Portfolio since 2025
2 years 2 months
Value
50,000
Location
Egypt, Kenya, Nigeria
Implementation Partners

Project description

The Nairobi Declaration on Sustainable Insurance was launched by UN Environment Programme’s Principles for Sustainable Insurance Initiative (PSI) during the 4th PSI African Market Event on 22 April 2021. The event was hosted by ICEA LION Group and supported by Financial Sector Deepening Africa (FSD Africa) and African Risk Capacity. It was  established to mobilise the Africa insurance industry to support the achievement of the UN Sustainable Development Goals. The Nairobi Declaration will bring together local and international Insurance firms to promote the achievement of SDGs, and make it easier for them to understand the commitment to support the achievement of the SDGs.

Target Results

Insurance protection gap closed by actively developing and promoting sustainable, inclusive and innovative insurance solutions (including through insurtech and nature-based solutions) for households, businesses, and governments in order to build resilient cities and communities as well as sustainable food and agriculture systems, among others.

Increased investments in sustainable/green assets

Progress to date

So far, we have hosted market events in Nairobi, Addis Ababa, Lagos and Cairo.

Currently at 55 signatories with a list of more than 20 potential signatories who are still in discussion with their boards on signing the declaration.

First Steering Committee was held on 9 June, with the attendance of nominees from the original signatories with each organisation promising to support and host different markets in their markets.

Project Contact

Zillah Malia
Zillah Malia
Senior Manager, Climate Finance

ACV’s impact measurement approach will evolve as we learn more about building businesses in the climate space and partner with new impact investors and actors.


Million
Reduction of 100 million tonnes annually by 2030, at least 30% capture.

Jobs
5000 jobs will be created, protected, and supported with at least 50% women.

Policies
15 Positive policy changes influenced.

 
GBP 34m will be mobilized/catalyzed from the public and private sector for projects designed to address climate change.