Chaucer Appoints Simon Tighe as Group ESG Head
Chaucer, the global speciality (re)insurance group, has appointed Simon Tighe as the Group Head of ESG. Simon, who also serves as the Group Head of Investments & Treasury, has played a crucial role in advancing Chaucer's ESG sustainability strategy, which aims to integrate ESG considerations into the decision-making process.
Simon has been instrumental in the collaboration between Chaucer and Moody's to develop a significant ESG initiative. This initiative, known as the ESG Balanced Scorecard, empowers businesses to assess their ESG performance by using a comprehensive set of 158 metrics. By leveraging this tool, businesses can effectively evaluate both the risks and opportunities associated with their operations.
John Fowle, Chaucer's CEO, expressed his delight in announcing Simon's appointment as the Group Head of ESG. He commended Simon for his significant role in shaping Chaucer's ESG strategy, specifically highlighting his contributions to the creation and implementation of the ESG Balanced Scorecard in partnership with Moody's. This scorecard enables objective measurement of ESG factors, reflecting Simon's dedication to advancing Chaucer's sustainability goals.
Chaucer recently announced its commitment to the United Nations Principles for Sustainable Insurance (PSI), which aim to address ESG risks and opportunities in the insurance and reinsurance industries.
In collaboration with Moody's, a prominent global provider of financial intelligence, Chaucer developed the ESG Balanced Scorecard. This scorecard utilises up to 158 metrics to assess a business's ESG performance based on its disclosures. By combining Chaucer's expertise in underwriting risk with Moody's data and ESG modelling expertise, the scorecard helps businesses identify and manage ESG risks and opportunities, fostering sustainability.
The scorecard not only enables (re)insurers to manage their own ESG profiles but also enhances their understanding of potential risks and areas for improvement related to the ESG performance of their customers.
Furthermore, Chaucer has made investments in and is providing leadership capacity for Kita, a specialist in carbon credit insurance. Kita's Carbon Purchase Protection Cover insures buyers of forward-purchased carbon credits, aiming to encourage corporates to invest in carbon removal projects. This coverage protects you if credits from forestry projects do not materialise. By instilling buyer trust in carbon delivery, this product facilitates increased capital flow to scale carbon sequestration projects at the necessary rate to combat the climate crisis.
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