As part of its efforts to help build more resilient communities, Canadian ICMIF member the Wawanesa Mutual Insurance Company (Wawanesa) announced this month that it has become a signatory of the United Nations Principles for Sustainable Insurance (PSI). This global sustainability framework under the United Nations Environment Programme (UNEP) is the largest collaborative initiative between the UN and the insurance industry.
“We’re committed to building safer, healthier and more sustainable communities at Wawanesa,” said Kimberly Palatnick, Chief Strategy & Member Experience Officer for Wawanesa. “As a mutual insurer, we’re proud to join the UNEP and other PSI signatories on priority issues affecting our members and communities.”
As a signatory of the PSI, Wawanesa’s five focus areas for a more sustainable, equitable, climate-resilient future for its members and communities include:
- Sustainable solutions: Create solutions to encourage sustainable behaviours and help prevent or reduce future losses.
- Sustainable operations: Lead by example and embed sustainability into day-to-day activities.
- Sustainable investing: Use the power of investment assets to support sustainability and resilient infrastructure.
- Stakeholder engagement: Ensure active and collaborative dialogue that moves sustainability and climate issues forward.
- Transparency & disclosure: Demonstrate accountability for commitments and actions.
In addition, as a signatory, Wawanesa joins other like-minded insurers in following the four Principles and commits to managing and monitoring risks and opportunities associated with environmental, social and governance issues.
Recent examples of Wawanesa’s increasing commitment to sustainability include the launch of their Eco-Friendly Homes and Stronger Homes products, setting internal emission targets, and using their expertise to advocate for changes to building codes that make homes more resilient to climate change. They’ve also committed CAD 2 million annually to their new community impact programme called Wawanesa Climate Champions which provides funding to support people and organizations working on the front lines to improve climate resiliency in communities across Canada.
For more information about the UN Principles for Sustainable Insurance, visit: https://www.unepfi.org/psi/
