The UN Global Compact’s Rio+20 Corporate Sustainability Forum wrapped up with several more commitments including pledges from about 30 global insurance companies, worth more than $5 trillion in total assets, to join a UN-backed process to promote a set of Principles for Sustainable Insurance.
Supporters, which include ING, Munich Re and the International Insurance Society, say they’ll consider environmental, social and governance issues in decision-making, work with clients to raise awareness of ESG issues, and work with governments and regulators to promote action on these topics. Signatory companies will also publicly disclose their progress in implementing the Principles for Sustainable Insurance, on an annual basis.
Signatory companies and supporting institutions include: Achmea (Netherlands), AEGON (Netherlands), Aviva (United Kingdom), AXA (France), Bradesco Seguros (Brazil), Delta Lloyd (Netherlands), ING (Netherlands), Insurance Australia Group (Australia), Interamerican Hellenic Insurance Group (Greece), Itaú Seguros (Brazil), La Banque Postale (France), MAPFRE (Spain), Mitsui Sumitomo Insurance (Japan), Mongeral AEGON (Brazil), Munich Re (Germany), RSA Insurance Group (United Kingdom), Sanlam (South Africa), Santam (South Africa), SCOR (France, Sompo Japan Insurance (Japan), Sovereign (New Zealand), Storebrand (Norway), SulAmérica (Brazil), Swiss Re (Switzerland), The Co-operators Group (Canada), Tokio Marine and Nichido Fire Insurance (Japan), Zwitserleven (Netherlands), Brazilian Insurance Confederation (Brazil), Insurance Association of the Caribbean (Barbados), Insurance Council of Australia (Australia), Insurance Council of New Zealand (New Zealand), International Cooperative and Mutual Insurance Federation (United Kingdom), International Insurance Society (United States) and South African Insurance Association (South Africa).
Also by the close of the forum, the world’s largest steelmaker, ArcelorMittal, pledged to reduce its CO2 emissions by eight percent for every ton of steel produced by 2020, based on a 2007 baseline, Industry Week reports. The magazine says DuPont committed $10 billion by 2020 to research and development, and plans to launch 4,000 new products by the end of 2020 to produce more food, enhance nutrition and improve farming sustainability worldwide.
And finally, the International Civil Aviation Organization launched Flightpath to a Sustainable Future, a global initiative consisting of the first-ever series of connecting flights powered by sustainable alternative fuels, on which ICAO Secretary General Raymond Benjamin will travel from Montréal to Rio de Janeiro.
Benjamin will fly Porter Airlines, Air Canada, Aeroméxico and GOL, which will operate aircraft from Bombardier, Airbus and Boeing using various blends of sustainable aviation biofuel. His trip will also include the first Azul Airlines and Embraer biofuel test flight using a sugar cane blend, and a biofuel flight from Europe.