(Digital Insurance) - Today's global organizations in all industries, public and private, have a vital role to play; both in terms of the economic landscape of the business community and the responsibility to address critical issues facing society.
Environmental Social Governance is a growing and pivotal strategic imperative that sets a basis of standards for these very factors: considering all stakeholders and the non-financial performance relating to areas of climate change, human capital, organizational leadership practices, and more. ESG is a natural fit for the industry, as insurance is fundamentally about managing risk, such as extreme weather events' impact on a company and its value. Furthermore, the insurance industry is shaping ESG adoption on a world scale, especially as many of the largest insurance companies are based in Europe (Zurich, AIG, Allianz, etc.).
As the insurance industry focuses on both their own assets as well as those they underwrite, a new focus has emerged ensuring that private companies are best prepared for the wave of ESG expectations and regulations, in particular, the 'ESG ripple effect' of disclosure requirements already expected of many public companies.
By Lou Raiola
November 9, 2022
