Sustainable Business Risk Framework: updated publication
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Our Sustainable Business Risk Framework is an advanced risk management instrument specifically designed to identify, assess and tackle potentially negative effects of our transactions on local communities, workforces and the environment. This framework applies to all of our business transactions in re/insurance as well as investments.
We first introduced the Framework in 2009. Since then we have continuously fine-tuned it, strengthening our underwriters’ ability to integrate sustainability risk assessments into their decision-making. It is also plays a vital role in our efforts to build up a comprehensive carbon steering mechanism, through measures such as the introduction of our thermal coal policy in 2018 and the recent revision of our oil and gas policy.
Advancing sustainable business practices
The purpose of this updated publication is to inform our stakeholders and partners on how we apply this risk management tool in practice. Through building on momentum generated by initiatives such as the Principles for Responsible Investment, the Principles for Sustainable Insurance and the CRO Forum, we hope that the publication also encourages the further adoption of sustainable business practices throughout the re/insurance industry.