TAL’s UN PSI representative, chief corporate governance officer Peter Noble, said the PSI is an initiative of the United Nation’s Environment Program Finance Initiative (UNEP FI) and will provide a sustainability framework for the global insurance industry.
“The Initiative was launched last year but this year the work begins to bring the initiative to life,” Mr Noble said.
The meetings, from 8-10 July, will focus on board members exploring risks and opportunities for environmental, social and governance (ESG) issues to help build a sustainability road map.
“The key opportunities I will advocate for are aimed at promoting not just greater awareness and understanding of ESG issues for business and individuals, but for greater collaboration to see real improvements made to global sustainability,” he said.
Mr Noble outlined a list of activities he would like to see explored, including strengthening public institutions, enhancing data and privacy protection, strengthening governance in private corporations and continuing to address under-insurance.
TAL said it is the first Australian life insurer and second Australian insurer to sign the UN’s PSI Initiative, and has gained one of the 11 seats on the board that governs the PSI Initiative.
The principles were developed by the UNEP FI in collaboration with more than 500 senior representatives from the insurance industry, government and regulators, intergovernmental and non-governmental organisations, business and industry associations, academia and the scientific community, TAL stated.
