CII Introduces Green Finance Guide

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by KnowESG
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The Chartered Insurance Institute (CII) has released a Green Finance Companion Guide to assist members in upholding the Code of Ethics. It aims to ensure that members adhere to the highest ethical standards and integrity.

The Guide offers insights into Green Finance and advises members on incorporating eco-friendly decision-making into their work. It also emphasises the importance of members serving as sustainability role models. Although designed for members, the Guide is suitable for all insurance and personal finance professionals.

Furthermore, the Guide acknowledges the global significance of preserving the natural environment and showcases the measures, resources, and pledges made by regulators, governments, and federations worldwide to drive positive change.

The Guide outlines the CII's expectations of members regarding each aspect of the Code of Ethics. It recommends that to uphold the highest ethical standards and integrity, members should:

  • Evaluate their choices from an outsider's perspective, considering their potential impact on the environment in the long term and how future generations might perceive them.

  • Promote industry-wide standards, share best practices, and strive for alignment and commonality among firms.

  • Encourage their company to adopt a Green Finance strategy, potentially as part of a broader set of ESG commitments.

  • Speak out if they witness actions within their organisation that may cause environmental harm.

  • Develop the ability to empathise with others and make choices that benefit many, not just those within their immediate circle.

Alan Vallance, the CII Chief Executive, stated that professionals often lead the way in creating change and setting examples for others to follow. With sustainability being a crucial issue of our time, the Companion Guide assists insurance and personal finance professionals in understanding their ethical responsibilities when it comes to Green Finance. The guide also teaches how they can make a positive impact on the planet while meeting the needs of their clients.

Rebekah Clement, the Sustainability Director at Lloyd's of London, expressed her hope that the Companion Guide would serve as an encouragement for further collaboration towards building a more resilient, sustainable, and inclusive finance sector.

The CII has collaborated with other Chartered Body Alliance bodies to develop the Certificate in Climate Risk, a qualification designed to support finance and risk professionals worldwide in enhancing their expertise in climate risk management.

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Source: CII

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