BIBA publishes ESG guide for members

The British Insurance Brokers’ Association (BIBA) has published an online guide for its members on Environmental Social and Governance (ESG), working with law firm Weightmans. BIBA said it has seen that businesses across the UK, regardless of their sector, “are experiencing increasing pressure and scrutiny from stakeholders to show that they understand and are addressing ESG issues. Insurance brokers are no different.” 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 association said it wanted to show members of all shapes and sizes why it makes good business sense to consider ESG. It noted that the publication “is a living dynamic guide that 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, said BIBA. Nick Barker, Weightmans, added: “Effective ESG integration starts by getting the governance right; this guide provides the tools to lay a solid foundation of ESG governance before exploring specific ESG stepping stones. Step-by-step guidance is provided right from initial stakeholder identification to the completion of an ESG materiality assessment through to the implementation of an ESG plan, and is a highly useful tool for any firm regardless of where they are currently on the ESG spectrum.” According to BIB, the guide 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 business’s other priorities”. The guides are available on the BIBA website and printed copies of the mini guide will be available at The BIBA Conference. ----------------------------------------------------------------------------------------------------------- Commercial Risk and Global Risk Manager are to launch a dedicated information service covering ESG issues, aimed primarily at large organisations in Europe. ESG Risk Review will provide insight and intelligence on sustainability risks, covering regulation, litigation and insurance market news, as well as analysis, comment, interviews and webinars. ESG Risk Review will be supported by Zurich as our headline partner and will be free-to-access content for all risk and insurance managers and related ESG officials within corporates. It will launch on 17 May 2023. To sign up for the monthly newsletter, please visit: https://www.commercialriskonline.com/esg-launch/

BIBA publishes ESG guide for members

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