Swiss Re Affirms priority of threat management

Swiss Re has published a document on the updates it has made in its company duty and threat Framework programs. “danger management is at the center what Swiss Re does and as a end result, the agency updated one of the tools it has in location to address sustainability, political, regulatory and rising risks,” Swiss Re said.

“Reflecting current threat tendencies in some sensitive key regions, Swiss Re made essential changes to 4 regulations of its company-huge Sustainability hazard Framework,” the bulletin defined. It said the framework “is an enterprise-main threat control device to pick out sustainability dangers in Swiss Re’s core re/insurance business. it's miles explained in element within the business enterprise’s 2013 corporate duty report, which become posted nowadays.”

group leader executive Officer Michel M Liès stated: “In risk control, we recognition on detecting and keeping off dangers that pose a hazard to our dedication to sustainability. Reflecting latest chance traits affecting the defense enterprise, nuclear guns proliferation, oil and gas exploration and forestry, we made crucial modifications to 4 regulations of our Sustainability danger Framework in 2013.”

Swiss Re stated it applies the “framework globally to all enterprise transactions as well as funding selections and contains 8 guidelines on sensitive sectors or troubles. these regulations are enforced via a so called ‘touchy commercial enterprise dangers method,’ which fits like a due diligence technique for case-by-case assessment.”

The assertion mentioned that in 2013,” a complete of 210 enterprise transactions had been screened via this due-diligence method, up from 170 transactions a yr in the past. Out of this, 27 commercial enterprise transactions received poor pointers and have been stopped, at the same time as a similarly 26 transactions acquired high-quality hints but with certain conditions connected.”

in addition Swiss Re stated another precedence is to lessen its environmental footprint. As a end result it “continuously targets to reduce the environmental impact of its commercial enterprise operations. In 2013, the enterprise correctly ended the first section of its Greenhouse neutral program, which it launched in 2003. Over the 10 years due to the fact then, the employer changed into capable of obtain a total discount of CO2 emissions per employee of fifty six.5 percent.

“persevering with its commitment to tackle climate change, in 2013 the organisation launched the second one phase of this system walking till 2020. the key factors of the new section are to hold the sizable emissions discounts achieved and retain to absolutely offset the final emissions. similarly, Swiss Re will explore the potential to similarly reduce its strength depth, i.e. in energy intake and heating.”

Swiss Re additionally cited that it “renewed its proprietary “COyou2″ software till 2020. This software affords subsidies to Swiss Re personnel round the world for non-public investments that help reduce their own CO2 footprint. the brand new section of this system will lead to 2020, in line with the agency’s weather alternate method.”

Swiss Re also said it has “similarly reinforced its commitment to carrying out its commercial enterprise responsibly by extending impartial guarantee of the organization’s 2013 company duty document. All 5 predominant chapters are actually reviewed and confident by using an outside auditor.

The 2013 corporate duty record “additionally serves because the company’s annual communication on development for the UN worldwide Compact in addition to its public disclosure on development for the UNEP ideas for Sustainable coverage (PSI), wherein the organisation maintains to take an active position,” the bulletin concluded.