Chaucer has updated its ESG strategy, including plans to decarbonise its business and embed ESG into the underwriting decision-making process.

The global specialty re/insurance group announced last year that it intended to achieve net zero greenhouse gas emissions by 2050 or sooner, and aims to be carbon neutral across its operations by 2030 or sooner.

Chaucer’s new strategy will be applied across all six of its defined core functions – investments, marketing, underwriting, operations, risk and governance, with each having a tailored sustainability purpose, focus and objective.

John Fowle, chief executive officer of Chaucer said: “At Chaucer, we believe ESG should underpin everything we do to meet the increasing need for global sustainability progress.

“The re/insurance industry has an important role to play to encourage its business partners to improve on environmental, social and governance matters and Chaucer is determined to be at the forefront of this movement.

“Our ESG data-driven strategy has been designed to produce measurable results to hold ourselves and our counterparties to account on crucial ESG factors. Our ESG vision should produce real change and have a visible impact on the way we do business across all of our core functions.”

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