The Guernsey International Insurance Association (GIIA) has enrolled in a United Nations green programme as part of its pledge to the development of sustainable finance.
As a supporting organisation of the United Nations’ Principles for Sustainable Insurance (PSI) Initiative, GIIA will address environment, social and governance (ESG) opportunities and risks.
This adoption follows GIIA’s partnership last year with Guernsey Green Finance to develop a coherent strategy for green insurance products in the domicile.
Mike Johns, chairman of GIIA, said: “This demonstrates Guernsey’s insurance sector’s commitment to the green and sustainable agenda and this aligns with our commitment to develop bespoke products and services to cater for this growing market.”
Andy Sloan, chair of Guernsey Green Finance, added: “The participation of the insurance sector is key to ensuring we become the leading jurisdiction for green finance in Europe. This is possible given the unique breadth of our island as a specialist financial services sector.”
Sustainable finance in the insurance-linked securities (ILS) sector, specifically the PSI Initiative, is will be discussed at Guernsey Finance’s ILS Insight webinar on 2 July.
