Egypt: Insurance federation affirms carbon-neutral commitment
Source: Middle East Insurance Review | Dec 2022
The Insurance Federation of Egypt (IFE) has affirmed the insurance sector’s commitment to carbon-neutral goals.
The affirmation was given at the United Nations Conference COP 27 held in Sharm El Sheikh during November.
In its statement, the IFE said it would focus on creating a Nat CAT insurance pool to mitigate climate risks while continuing to seek membership in international networks and frameworks that support sustainable activities.
The federation encouraged member companies to take into account climate considerations in their operational frameworks and to continue to disclose relevant information and activities, through sustainability governance reports and make climate-related financial disclosures.
The IFE would adhere to the relevant initiatives, activities and regulations of the Financial Regulatory Authority, and continue supporting and strengthening them.
In addition, the federation said that it would work to provide models and products for sustainable insurance for member companies. M