Aon has announced that it has signed up to the UN Principles for Sustainable Insurance (PSI), becoming the first risk advisor and broker to do so.
The UN PSI have been created to serve as an initiative and global framework for the insurance industry in which the community can use its strengths in risk mitigation to strengthen its contribution to a safer, healthier and more sustainable society. Signing up to the UN PSI is part of Aon’s wider commitment to being a responsible and socially and environmentally aware business, the company said.
“I am proud that we are leading our sector in becoming a signatory to this important initiative,” said Eric Andersen, co-President of Aon. “As a professional services firm focused on reducing volatility and improving performance, we and the wider insurance industry must be prepared to address critical economic, social and environmental challenges. In this regard, de-risking cities and countries has never been more important.”
The UN PSI are focused around four main principles: to embed in decision-making environmental, social and governance issues relevant to insurance business; to work together with clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions; to work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues; and to demonstrate accountability and transparency in regularly disclosing publicly companies’ progress in implementing the PSI.
“As the first global insurance broker to sign the Principles for Sustainable Insurance, Aon is demonstrating unparalleled leadership and commitment from the insurance broking community to support the global effort of building resilient, inclusive and sustainable communities and economies. Aon is leading by example,” added Butch Bacani, who leads UN Environment’s Principles for Sustainable Insurance Initiative.