Members who responded to ICMIF’s annual sustainability survey have reported that, collectively, over USD one trillion of their investments are aligned to sustainable investment frameworks, according to the 2024 ICMIF Members Sustainability Report.

The report shows that ICMIF members are collectively investing USD 1,027 billion in sustainable investment frameworks, including green bonds, social bonds and resilience bonds, many of which target climate change and its effects. This represented 78% of survey respondents’ invested assets, a slight decrease from a corresponding figure of 79% last year.

Mutual and cooperative insurers represent over 26% of the world’s insurance market and USD 10.4 trillion in assets.

The report highlights ways in which ICMIF members are continuing to lead by example in in terms of sustainable investments.

Key findings:

• ICMIF members confirmed that USD 1,027 billion of their invested assets were aligned to sustainable investment frameworks in 2023.
• USD 1,027 billion aligned to sustainable investment frameworks represented 78% of survey respondents’ assets in 2023, a slight decrease from 79% last year.
• Survey respondents referenced around 20 international, regional, and national investment frameworks, but the most prevalent framework respondents had committed to was the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Investment, with 50% of members signing up to this framework.
• 64% of responding members reported that they invest in impact investing (investments made with the intention to generate a measurable beneficial social or environmental impact alongside a financial return), up from 60% last year.
• 51% of ICMIF member respondents have made a net-zero commitment, up from 46% last year.
• 74% of respondents said they actively report on sustainability measures, an increase from 71% last year.

Speaking about the publication of the report, Shaun Tarbuck, ICMIF CEO said: “The findings of the 2024 ICMIF Members Sustainability Report underscore the critical role that cooperative and mutual insurers play in driving sustainable investment. With 78% of respondents’ assets now aligned with sustainable frameworks, and a growing number of members committing to net-zero targets, it’s clear that the mutual insurance sector is serious about addressing climate change.

“As we move forward, building on these achievements is paramount. With the help of internationally recognised frameworks, we have tools to measure and enhance our impact. The mutual insurance sector is uniquely positioned to tackle both current and future climate challenges, offering a model of how businesses can contribute meaningfully to global sustainability goals,” he concluded.

Download the report to learn more about the sustainable investments being made by ICMIF members and reflect on how you and your company can either bolster your investment strategies OR start your journey to a more sustainable future.

For more information on how you can get involved please contact Liam Carter, Senior Vice-President, Resilience ([email protected]).