MS Amlin has said it is laying out a three-year sustainability roadmap in order to embed ESG into its business operations.
According to the firm, the Sustainability Strategy sets out the steps which the company will take over the next 36 months and provides multi-point plans for how it will embed ESG criteria and monitor performance effectively. This will support MS Amlin’s commitment to minimise the environmental impacts of its operations globally while also building out more robust social and governance practices.
Johan Slabbert, chief executive officer of MS Amlin Underwriting, said: “MS Amlin has a key role to play in the transition to net-zero. Insurance is one of the enablers of growth and trade, meaning it can spearhead and support with the transition of economies and driving decarbonisation. This document and the subject at its heart, sustainability, touches every aspect of our business. Its scope is broad, the challenge is sizeable and will not be easily solved in a mere matter of years; however, the opportunity ahead of all of us is enormous. We’re immensely proud to have taken this essential step – after extensive consideration and consultation – and are ready for this next stage of our sustainability journey.”
MS Amlin said that there were three primary components to its Sustainability Strategy. The components are:
- Supporting profitable growth – Deploying data, analytics and underwriting expertise to: i) support and influence clients aligning with the UN Sustainable Development Goals (UNSDGs) and transitioning to net zero; and ii) appropriately price for exposures arising from this transition.
- Empowering people – Embedding sustainability practices to attract, engage, motivate, and empower employees, while having a positive impact on the wider community.
- Delivering on our obligations – Ensuring MS Amlin is well placed to fulfil its regulatory and other sustainability related obligations, particularly in relation to climate risk
During the 36 months period covered by the Sustainability Strategy, MS Amlin will fulfil the target setting requirements specified by the Science Based Targets Institute (SBTi) and submit targets for validation to the SBTi to confirm that these are based on the latest climate science and aligned with the Paris Agreement.
