Dylan Bryant, Green Insurance Working Group Co-chair, Hong Kong Green Finance Association

Anthony Cheung, Convenor of Green Finance, Friends of the Earth (HK)

Dear Friends,

First of all, we would like to convey our best wishes for 2021! We look forward to continuing working with you and moving the green finance agenda forward.

We are pleased to kick off the year by sharing with you a global survey of the insurance industry on environment liability and sustainable insurance.

PSI Grounding Paper on environmental liability and sustainable insurance

In June 2020, the Principles for Sustainable Insurance (PSI) launched the first-ever insurance industry guide to manage environmental, social and governance (ESG) risks—or sustainability risks. The guide shows how insurers can develop a systematic approach to managing ESG risks such as climate change, environmental degradation, protected sites and species, animal welfare, human rights, controversial weapons, and corruption.

Despite the pioneering nature of the insurance industry sustainability guide on ESG risks, it does not specifically address environmental liability risks. Furthermore, the insurance industry is a major investor, with global assets under management of more than USD 30 trillion. Therefore, it is equally important to understand environmental liability risks in the context of insurers as institutional investors.

In this regard, the PSI is carrying out a project focused on the potential to mobilize the insurance industry’s role as a risk manager, insurer and investor specifically regarding environmental liability insurance.

Global Survey

In this regard, we are inviting you to complete an online survey by 31 January 2021. The survey is an excellent opportunity to share your views on this topic, and perhaps gain new insights as well. If you would like to participate in an interview or contribute in other ways to this project, please contact Dylan Bryant at dylan.bryant1@un.org and psi@unepfi.org

To access the survey, please visit: https://www.surveymonkey.com/r/UNEPPSIEIL

Thank you in advance for taking part in this pioneering global survey. We look forward to receiving your input!

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