In our Sustainability Strategy, in our ‘Commitment to Develop and Embed a Sustainability Strategy’ our ‘Commitment to be a Responsible and Sustainable Insurer’ and our ‘Commitment to Responsible Investment’ we will:
- Embed a Climate First Sustainability Strategy though our four strategic pillar areas – Financial, Member and Customer, Internal Process, and People and Culture
- Provide leadership and tone from the top, including Board and Management commitment
- Identify and implement opportunities to drive sustainable process efficiency across the organisation
- Provide ESG training to the Board, Leadership Team and all employees
- Ensure that ESG considerations are applied within our supply chain and our chosen business partners, enforced through IPB’s procurement policy
- Enhance accountability and transparency in our sustainability reporting
- Establish a Board Sustainability Committee
- Appoint a Leadership Team/Board sponsor for sustainability
- Sign up to the UN Principles for Sustainable Insurance
- Align our Sustainability Strategy to the UN Sustainability Development Goals
- Develop insurance product innovations that align with IPB Members and IPB’s goals on matters of environment sustainability and governance
- Continue to embed sustainability and associated risks captured within the overall risk framework
- Ensure that ESG considerations are applied within our supply chain and our chosen business partners.
- Update our risk appetite statement and investment strategy to ensure that IPB is taking day-to-day actions that underpin its commitment to responsible investment
- Develop targets for the percentage of green bonds and equities with higher ESG ratings within our portfolio
- Complete an internal review to independently verify the sustainability of our investment processes and controls.
