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Validating the ESG credentials of the insurance supply chain

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In April 2022 new legislation came into force requiring UK registered companies and Limited Liability Partnerships – with over 500 employees and an annual revenue of more than £500 million – to produce a sustainability statement on climate related disclosures in their annual strategic or energy and carbon reports.

In a recent survey conducted by CRIF Decision Solutions in conjunction with Insurance Post, just over 70% of insurer respondents ranked ESG as a top five priority for their organisation and a further 23.5% as a top ten priority. The results indicate that insurers are focussed on getting their internal ‘ESG house’ in order. However, things become a little more disparate in relation to supply chain management, with only 8.8% of respondents currently validating all the ESG credentials of their supply chains.

Based on the survey results, this content highlights why ESG scrutiny is building within the insurance industry - presenting both business risks and opportunities for insurers.

Topics covered include:
• Where does ESG rank as a priority for insurers?
• ESG-related supply chain scrutiny.
• Validating the ESG credentials of insurance supply chains.
• Operational and reputational risks.
• ESG index score-based solutions.

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