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Alandia joins the UN Principles for Sustainable Insurance

Father with son sitting on the sea pier

We are happy to announce that Alandia has become a signatory to the UN Principles for Sustainable Insurance (PSI). “Marine insurers have a significant impact on various industries linked to the ocean economy and have a key role to play in tackling global sustainability challenges—from climate change and nature loss, to pollution and human rights violations. With Alandia joining the PSI, it is making a commitment to make sustainability an outcome of its core risk management, insurance and investment activities”, says Butch Bacani, who leads the PSI at the UN Environment Programme.

Alandia has become a signatory to the Principles for Sustainable Insurance (the “Principles”), a global sustainability framework that has led to the largest collaborative initiative between the United Nations and the global insurance industry.

The Principles for Sustainable Insurance were developed by the United Nations Environment Programme Finance Initiative (UNEP FI) together with leading insurers from across the globe. They were endorsed by the UN Secretary-General and insurance industry CEOs and launched at the 2012 UN Conference on Sustainable Development in Rio de Janeiro, Brazil.

The structure of the principles is based on an insurance company’s spheres of influence, addressing environmental, social and governance (ESG) issues—also known as sustainability issues—in the company’s strategy and core risk management, insurance and investment activities; and working together with clients and business partners across the insurance industry value chain, and with governments, regulators and other key stakeholders to promote widespread action. The principles also promote accountability and transparency on how a company is managing ESG issues.

“As we are an insurance company with focus on Marine, Cargo and Leisure Boat insurance with over 80 years of experience in providing marine insurance expertise and claims service to our customers in a committed and sustainable way, we are honoured to having been accepted signatory members of the UN PSI. Our way forward is to embed environmental, social and governance issues in our decision-making and to encourage our customers to do likewise and to support the protective measures for the marine environment jointly with the insurance industry”, says Alandia CEO, Tony Karlström.

The UN’s PSI Programme Leader, Butch Bacani, warmly welcomes Alandia to the table:

“Sustainability thinking and practice is absolutely essential particularly if we are to avoid catastrophic climate change and halt and reverse nature loss. Signing is only the first step. The next key action is for Alandia to implement the Principles for Sustainable Insurance across its entire business, in line with its company values of being Accountable, Progressive and Committed. We look forward to working together with Alandia as part of the global effort to insure and invest in the transition to an inclusive, resilient, net-zero emissions and nature-positive economy, Bacani concludes.

 

Read more:

UNEP FI Principles for Sustainable Insurance
UN PSI Signatory Companies

 

Alandia is an insurance company with focus on Marine, Cargo and Pleasure Craft insurance. With over 80 years of experience Alandia provides superior marine insurance expertise and claims service to its customers by creating long-term relationships in a committed and accountable way. Headquartered in Aland islands and with offices in Helsinki, Stockholm and Gothenburg Alandia employs approximately 115 professionals. alandia.com