Partnering for progress
Since 2009, RSA and WWF have been investigating the emerging environmental risks and opportunities facing the insurance industry from climate change. A new brochure charts our progress.
‘Partnering for Progress’ highlights some of the many projects we are working on across our four focus areas: Marine, Climate, Water and Sustainable business. Since the partnership began we have:
- Worked with farmers, retailers, NGOs, scientists and other aquaculture industry stakeholders worldwide to develop internationally recognised best-practice standards for sustainable aquaculture;
- Helped to develop a framework for a more sustainable shipping industry through our membership of the Sustainable Shipping Initiative. RSA was the first marine underwriter invited to join the Initiative in 2010. Its Vision 2040 sets out a sustainable road map for the industry’s future by tackling urgent challenges including rising oil prices, changing global trade patterns and growing scrutiny of its social and environmental performance;
- Explored the insurance barriers to widespread adoption of renewable energy. WWF’s vision is for a 100% renewable energy future by 2050. Our joint report - ‘Insurance and Renewable Energy’ - argues this is both technically achievable and cost effective despite formidable challenges such as access to finance and planning. Together we are working to overcome these barriers;
- Reduced the risk of flooding in towns and cities through research into sustainable urban drainage systems. Our joint report argues that sustainable drainage systems (SuDS) can form part of a cost-effective, integrated approach to flood and waste water management while improving urban spaces and benefitting wildlife. We have put these principles into practice as part of an innovative parkland restoration project in East London; and
- Built a more sustainable supply chain to reduce the CO2 footprint of the average MORE TH>N home insurance policy by 15% by 2013. We are working together to identify ways to promote environmental protection though our products, services and supply chain.
In his introduction, RSA’s new Group Chief Executive, Simon Lee, emphasises RSA’s commitment to working with WWF to reduce risk and to have a positive environmental impact: “Together we want to build a more sustainable industry and help our customers become more environmentally responsible. By demonstrating how reducing insurance risk can reduce environmental risk, we can help insurance play a vital role in creating a more sustainable world.”
Download Partnering for Progress