Allianz signs and symptoms directly to UN’s ideas for Sustainable coverage (PSI)

Germany’s Allianz SE, Europe’s largest insurer, announced that it has signed the principles for Sustainable coverage (PSI) of the United countries environment application Finance Initiative (UNEP-FI), powerful February 2014.

The PSI is the “biggest collaborative initiative among the United nations and the insurance industry,” Allianz explained, with about “forty insurance companies as signatories and 30 coverage market our bodies as supporters.” Its goal is to encourage “extra integration of environmental, social and governance (ESG) problems into insurance. Signatories dedicate themselves to embed ESG issues, to control chance and develop solutions with their clients, to work collectively with enterprise stakeholders, and to publicly disclose their ESG progress.”

CEO Michael Diekmann said: “starting in 2014 the Allianz ESG tips will cowl sensitive subjects for all new commercial enterprise globally. that is a in addition milestone on our way to becoming the most sustainable insurer and asset manager, initiated by using our ESG Board in 2012. we are now in the position to meet the goals of the standards for Sustainable insurance and to paintings together to accelerate the adoption of ESG by using our industry. We sense it's miles essential to gain integration of ESG throughout the whole coverage fee chain.”

The bulletin additionally referred to that the “signing the concepts for Sustainable coverage comes one and a half of years after Allianz created the ESG Board – a governance frame overseeing customer interaction troubles ranging from controversial guns to influences on endangered species. A pass-purposeful working organization of fifty experts from Allianz have been a part of the pilot segment of developing an ESG gadget in 2013.”

Clement B. sales space, Member of the Board of control, added: “the moment we signed the concepts for Sustainable insurance (PSI), it marked the release of our new ESG pointers to supply advanced chance control for our clients. We’re seeing increasingly more that customers care about environmental, social and governance troubles and social media is riding greater public accountability and transparency. As danger management professionals and speak partner of our clients we can help to similarly mitigate risks and guide the introduction of sustainable economies.”

Allianz also cited that it's far “a signatory to the PSI’s ‘sister’ tasks for asset control and investments (ideas for responsible funding – PRI) and corporate standards (United nations international Compact). Allianz is coverage sector-chief in the Dow Jones Sustainable Index (DJSI).”