| Link(s): | ESG: The Brokers’ Perspective (cii.co.uk) esg-report-final.pdf (cii.co.uk) Only 32% of SME brokers understand ESG aims – CII research – Insurance Age |
Context
The CII has published a guide which comes from research carried out by the CII Broking Community New Generation group for the 2022/23 period. The guide published explains about environmental, social, and governance (ESG) and detailing how small and medium-sized (SME) brokers can navigate this pivotal territory. The survey found fewer than a third of staff at small brokers understand the ESG goals of their firm.
Key points to note
Key points to note
- The component parts of ESG are:
- Environmental – climate change, fossil fuels
- Social – diversity and inclusion, social mobility
- Governance – boardroom ethics, supply chain
- Only 32% of SME brokers understand ESG aims.
- Research showed larger brokers have an individual or committee responsible considering ESG, while this was not the case for SME brokers.
- Ignoring ESG could mean that brokers are unattractive to prospects, both their clients and to Insurers.
- Another crucial insight from the research revealed disparities in the understanding of ESG targets among employees.
Next actions
None – for information and awareness.