QBE develops ESG tool for SMEs

QBE’s Risk Solutions practice has devised an ESG framework and template sustainability policy to help SMEs identify, monitor and manage ESG issues that may affect their business. QBE said the new tool is to help smaller companies that are worried about growing ESG exposures but have limited resources to commit to the issue.

Deborah O’Riordan, practice leader, Risk Solutions, QBE Europe, said: “While the sustainability movement is advancing in big business due to disclosure requirements, it could be slow to trickle down to the smaller and medium enterprises that make up a large part of QBE’s customer base.

“Companies should not wait for an adverse incident before they address their sustainability goals – a reactive approach could prove costly and give rise to criminal charges, enforcement actions, management liability claims, injury and death, reputational damage, loss of revenue, and ultimately, business failure.”

QBE plans to further develop the offering into a toolkit to include more guidance and create a fuller online assessment of SMEs.

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