In 2015, the UN launched the 17 Sustainable Development Goals (SDGs) to be achieved by 2030, urging sustainability action. 193 countries have signed. Translating corporate impact with respect to the SDGs requires agreed metrics, targets, and scoring.
Until now, the insurance industry lacked industry specific SDG definitions, quantifiable targets and a comprehensive framework to credibly report on progress.
Building on the UNEP PSI iSDG definitions being drafted, Swiss Re Institute is developing the Insurance SDG Calculator to help (re)insurers measure impact and steer business towards achieving the UN SDGs.
The Insurance SDG Calculator enables companies to set business targets, baseline and focus; track progress; and credibly report on sustainability progress to key stakeholders including investors, shareholders and clients.
ICMIF is a strategic partner. In line with our shared vision to make the world more resilient, Swiss Re Institute is working with ICMIF and select ICMIF members to ensure the Insurance SDG Calculator best meets member and policyholder needs.
The Co-operators (Canada) and Sancor Seguros (Argentina) are leading the ICMIF R&D effort to help shape the indicators, refine the data models, and explore the best target setting approaches and quantification mechanisms.
Mutuals adopting the Insurance SDG Calculator will enable us to refine it continuously. It aims to reach a rough industry consensus on relevant industry questions to help us better design pathways to sustainable business. Our ambition is for the tool to serve as the industry standard.
Swiss Re plan to launch the Insurance SDG Calculator free version (limited functionality) in Q4 2021.
