The Principles, an initiative of the United Nation’s Environment Program Finance Initiative (UNEP FI), are a sustainability framework for the global insurance industry. 

They challenge insurers to enhance their risk management practices and insurance solutions to promote renewable energy, clean water, food security, sustainable cities and disaster-resilient communities. 

TAL Head of Corporate Governance Peter Noble has been elected to the UN Board that oversees the initiative, joining 11 insurance company leaders from around the globe to encourage greater sustainability. 

“As the PSI Initiative matures, it will cement its place as the global authority on risk management,” Mr Noble said. “Its signatories, through practice of the Principles, will act as examples for companies that are still in the early stages of sustainable thinking.” 

TAL Managing Director Jim Minto said: “TAL’s adoption of the UN Principles for Sustainable Insurance reflects our unshakable belief in the social good of what we do as life insurers. This is why our responsibility extends beyond our performance in the marketplace and encompasses our actions in the broader community 

“We believe that insurers around the word, as a united industry, have the power to galvanise tremendous change. Change that facilitates social progress. Change that respects our natural environment. And, change that places integrity and diligence at the heart of risk management.” 

The Principles were developed by the UNEP FI in collaboration with more than 500 senior representatives from the insurance industry, government and regulators, intergovernmental and non-governmental organisations, business and industry associations, academia and the scientific community. 

Butch Bacani, Program Leader of the PSI Initiative at UNEP FI, said: “By embracing the Principles for Sustainable Insurance (PSI), we are delighted that TAL, as a specialist life insurer, is championing the proactive management of environmental, social and governance risks and opportunities. The nature of life insurance business entails that sustainability is essential to keeping trust, fulfilling promises and delivering long-term value.”

He added: “Peter Noble’s expertise in risk management, corporate governance and law, along with his passion for the environment and sustainable development, are integral to the work of the PSI Board.”

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