Insurance industry called upon to support SDGs

Written by Mark Evans

A meeting of the global Microinsurance Network in Luxembourg has called on the global insurance industry to deepen its engagement in inclusive insurance in support of the UN Sustainable Development Goals (SDGs).

Katharine Pulvermacher, the newly appointed executive director of the Microinsurance Network, commented: “Insurance and development experts must recognise that insurance is a critical enabler if we are to attain many of the United Nations’ Sustainable Development Goals (SDGs).”

The Microinsurance Network brings together stakeholders from across the insurance value chain, comprising policymakers, regulators, donors, the private sector and non-profit insurance organisations, as well as other industry players, in an effort to mitigate the risks faced by poor households across the world.

Butch Bacani, programme leader of UN Environment’s Principles for Sustainable Insurance Initiative (PSI), the largest collaborative initiative between the United Nations and the insurance industry, who spoke at the event added, “With more than USD30 trillion in global assets under management, it is also critical for the insurance industry to support economic, social and environmental sustainability as a major investor, including investments in low-emission technologies and climate and disaster-resilient infrastructure.”

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