ICMIF members have USD 576 bn of assets under management in investments aligned to sustainable investment frameworks, according to the ICMIF Members Sustainable Investment Report launched by the International Cooperative and Mutual Insurance Federation (ICMIF).
It was Al Gore who said, “we are at the early stages of the sustainable revolution, but to reach this we need a new paradigm and radical transparency”.
ICMIF, as the global representative association for the cooperative/mutual insurance sector, has been collecting data over the past three years that will help us demonstrate the role that mutual and cooperative insurers are playing in tackling climate change and promoting financial inclusion, now and in the future. This year, we are happy to launch a full report on the findings of a 2021 member survey to share this body of work and entice other members to share their investment strategies and learnings to further these vital actions.
This year, the ICMIF Members Sustainable Investment Report reveals the results of the 2021 ICMIF Sustainability Investment Framework Survey and are testament to how our members have gone from strength to strength since the inception of this survey in 2019. This manifesto shows solid forward momentum from the mutual and cooperative insurance sector towards a greener future.
Key findings:
- ICMIF members confirmed that USD 576 bn of their assets under management are investments aligned to sustainable investment frameworks.
- There are multiple investment frameworks, but the members who responded to our survey show that the UNEP-Convened Principles for Responsible Investing (PRI) and its newer form the Net-Zero Asset Owner Alliance (NZAOA) are the primary frameworks adopted by ICMIF members.
- Green bonds (and other sustainable bonds) and renewables investing have also seen more than 100% increases in investment since last year.
- Sustainability reporting is growing with the majority of members stating that they actively report on sustainability in some way.
In 2014, at the UN General Assembly, ICMIF CEO, Shaun Tarbuck, committed the whole of the insurance industry to invest USD 400 billion in climate smart investments by 2020. Last year, our 2020 annual sustainable investments survey showed that a sample group of ICMIF members alone had invested USD 286 billion in sustainable investment frameworks in 2019. The 2021 survey, for 2020 investments showed the figure invested by ICMIF members in sustainable investment frameworks had risen to USD 576 bn.
Download the report now to understand the enormity of this effort by ICMIF members and reflect on how you and your company can either bolster your investment strategies OR start your journey to a sustainable future.
For more information on how you can get involved please contact:
- Steve Leicester, Chief Finance Officer ([email protected]) or
- Liam Carter, Sustainability Advisor to the CEO ([email protected]).
