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Triple-I Blog | Insurers can support progress towards sustainable development goals



Insurers can support progress towards sustainable development goals

The UN̵

7;s Sustainable Development Goals (SDGs) are a group of 17 global goals aimed at reducing poverty and protecting the planet for the future. The SDGs were born at the UN Conference on Sustainable Development in 2012 and are linked to the 2030 Agenda for Sustainable Development, adopted by 193 countries. While the SDGs outline some of the greatest challenges for governments worldwide, achieving them will require collective action including governments, civil society, the private sector, and individuals and communities.

Insurers can take advantage of new opportunities as both underwriters and investors to support the UN’s SDGs, a set of globally shared social and economic expectations, increasingly used by both insurers and businesses across a wide range of sectors as a guiding compass for develop their environmental, social and governance (ESG) strategies. However, the potential role of insurance in achieving the SDGs and promoting ESG more broadly has been underestimated, particularly for broader climate and sustainability initiatives.

The Insurance Information Institute recently collaborated with Non-Resident Scholar, Susan Holliday, and her partners at The World Bank Group on a report, The role of insurance in the goals for sustainable development, which discusses how the insurance industry can support governments and businesses to achieve progress towards the SDGs.

Although the SDGs only mention insurance once, the sector has an important role to play, particularly in the areas of climate, safe cities, health and reducing inequality. But to fully develop this, the sector needs to be more involved in high-level working groups on how to make progress towards the SDGs and work together to produce consistent global data to show the role insurance can play.

Click here for The role of insurance in the goals for sustainable development report download.


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