TT Club has committed to the Principles for the Sustainable Insurance Initiative, the UN’s initiative designed to unite the global insurance sector’s efforts to achieve sustainability and improve the health of the planet.
y applying the principles of this United Nations’ initiative, TT Club is underlining its commitment in a way that is relevant to its global risk management and insurance operations.
Commenting on the news that TT Club has been accepted as a PSI signatory, Charles Fenton, CEO said:
As a mutual insurer our overarching purpose is to make the international transport and logistics industry safer, more secure and as a result, more sustainable
TT Club will embrace the guidance provided by the PSI by embedding the issues of ESG in its decision-making; work with its members and business partners in extending awareness of such issues; demonstrate accountability and transparency in reporting its progress and work together with regulators and other stakeholders to promote widespread action on ESG issues.
The PSI is the largest collaboration between the insurance industry and the United Nations with over 220 members from all around the world. Ban Ki-Moon, ex-Secretary General of the UN supports the PSI initiative, commented:
The Principles of Sustainable Insurance provide a global roadmap to develop and expand innovative risk management and insurance solutions. With a world premium volume of more than US$24 trillion, insurers that embed sustainability in their business operations can catalyse the kinds of financial and investment flows and long-term perspectives needed for sustainable development