Middle East: QIC becomes 1st insurer in the region to sign UN Principles for Sustainable Insurance
Source: Middle East Insurance Review | Feb 2023
Qatar Insurance Company (QIC) has signed the UN Environment Programme-Finance Initiative’s Principles for Sustainable Insurance (UNEP-FI PSI), making it the first insurer in the Middle East to sign the global agreement.
By becoming a signatory, QIC becomes part of a global network of insurance stakeholders committed to integrating ESG. These principles are more comprehensive than just financial metrics used typically in the industry, which will provide a platform for QIC to strengthen its business governance model.
QIC Group CEO Salem al-Mannai said, “QIC strives to create a sustainable business while contributing to global economic resilience and is conscious of the impact on climate, biodiversity, poverty, education and ethical standards.
“QIC intends to leave a positive footprint and becoming a signatory of the ‘Principle for Sustainable Insurance’ helps QIC integrate ESG-compliant and sustainable behaviour throughout its value chain. Together with our stakeholders, we shall work towards achieving a resilient, sustainable and inclusive society.”
Launched at the 2012 UN Conference on Sustainable Development, the UNEP-FI PSI serves as a global framework for the insurance industry to address ESG risks and opportunities. The PSI initiative is the largest collaborative agreement between the UN and the insurance industry. M