HSBC Insurance Malta Increases its Commitment to Sustainable Practices

Published on: 09 August 2022
by KnowESG

HSBC Insurance Malta Ltd. has strengthened its commitment to sustainability by expanding its environmental and social governance (ESG) initiatives to meet its decarbonisation and employee well-being objectives. In this context, HSBC Insurance Malta leads the Future Skills Working Group within the Climate Action Network of HSBC Malta.

The ESG commitment of HSBC Insurance Malta is centred on three pillars: finding sustainable investment opportunities, promoting insurance financial inclusion, and building sustainable operations. HSBC Insurance has invested $8.9 million throughout the HSBC Group in green bonds and sustainable equities. The Group intends to enhance this investment for the benefit of shareholders and policyholders.

HSBC Insurance Malta has also incorporated sustainability product disclosures describing how the insurer incorporates ESG elements into its policies and processes, using non-legal plain language to enhance the customer experience and facilitate clearer customer comprehension. 

As part of HSBC Malta's efforts to migrate to net-zero operations and reduce paper consumption, HSBC Insurance Malta has begun a large-scale system update to enhance the client journey by digitising operational processes end-to-end and eliminating paper for record-keeping. Moreover, marketing literature now employs QR codes to reduce paper use.

Muriel Rutland, Chief Executive Officer of HSBC Insurance Malta, said: 

"Our ESG commitments ensure that HSBC Insurance Malta plays its part in encouraging environmental protection, good corporate citizenship and manager accountability to support our transition to a net-zero organisation. Together with our partners, we strive to encourage the business community to drive real change towards a net-zero economy, which will benefit us all and future generations."

In addition, HSBC Insurance Malta has actively supported corporate social responsibility initiatives. As part of HSBC Malta's voluntary leave programme, HSBC Malta Insurance staff participated in two beach cleanups organised by Nature Trust-Foundation for Environmental Education (FEE) Malta earlier in the year. 

A collaboration with the JA Malta Foundation to give lessons to Skolasajf, Malta's government summer school programme, and interviewing sessions for fifth formers to help secondary school graduates strengthen their interviewing abilities through hands-on, real-world experiences.

Source: Insurance Newsnet

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