Context
The British Insurance Brokers’ Association (BIBA) today revealed new publications on Environmental Social and Governance (ESG) for its members, including a mini-guide which is currently publicly available.
Key points to note
BIBA has seen that businesses across the UK, Insurance Brokers included, are experiencing increasing pressure and scrutiny from stakeholders to show that they understand and are addressing ESG issues.
Steve White, BIBA CEO said:
“Discussions about ESG issues are already a fixed agenda item on our Boards and incorporate the diverse needs of our members on this subject and we have formulated our own ESG policy. However, we wanted to help any member, whatever their ambitions in this area, with their ESG journey.
Our aim is to help members understand the direction of travel on ESG and support them in integrating ESG into their businesses whatever stage of implementation they may already be at.”
The online guide is a living dynamic guide which will be added to and amended as priorities shift and takes members from appreciating why ESG matters, through setting an ESG plan and objectives to monitoring, reporting and continuous improvement.
The guide includes details on key aspects of implementing an ESG policy referred to as stepping stones, allowing firms to focus on what matters to their business at any one time. It is accompanied by a short mini guide that summarises the process and the steps in the journey. It highlights flexibility for businesses showing that once a decision is taken to incorporate ESG it does not have to be a linear journey, steps can be taken that fit a businesses’ other priorities.
Next actions
None – for information and awareness.