Col­lab­o­ra­tion for sus­tain­able de­vel­op­ment

(GRI 102-13)

In order to make the insurance industry more sustainable, the SIA works with various partners in areas including knowledge exchange, political engagement and public relations. 

The SIA is involved in all economiesuisse’s committees that deal with sustainability issues. Together with this umbrella organisation for the business community, the SIA supports the CO₂ Act and the Federal Council’s objectives for net-zero emissions by 2050. 

At the Swiss Green Economic Symposium (SGES) 2020, the SIA, together with Swiss Sustainable Finance (SSF), organised an innovation forum on the topic of effective investment, new avenues and market opportunities. The objective of SSF’s platform, of which the SIA is also a member, is to strengthen Switzerland’s position in the global market for sustainable finance. To achieve this goal, SSF is focusing on information, awareness-raising and growth-promoting measures. Together with other partners, the aim is for the Swiss financial centre to become a leading hub for the sustainable finance sector. 

In November, the SIA was set to attend the COP26 climate conference in Glasgow as a representative of the Swiss business community and as part of Switzerland’s official delegation, but as a result of the pandemic the conference was cancelled. 

The SIA has worked with the University of St Gallen and the Institute of Insurance Economics (I.VW-HSG) on various topics – both on sustainability (joint event at the SGES on the effectiveness of sustainable investment) and on issues relating to the future working world (study on the skills of the future).

(GRI 102-12, GRI 103-13)

Dialogue in sustainability networks and a focus on common standards allow insurance companies to better understand the needs and expectations. This enables companies to actively shape and implement solutions and ultimately respond more quickly to emerging challenges and changes. Some insurance companies are also the founding members of organisations such as the Net-Zero Asset Owner Alliance. They are also actively involved in key working groups of various associations and networks. 

Larger Swiss insurers in particular are involved in these organisations through membership and/or active mandates. A non-exhaustive list includes:

• UN Global Compact
• PRI Principles for Responsible Investment
• PSI Principles for Sustainable Insurance
• TCFD Task Force on Climate-related Financial Disclosures
• UNEP FI UN Environment Programme Finance Initiative 
• Net-Zero Asset Owner Alliance
• Institutional Investor Group on Climate Change IIGCC
• International Corporate Governance Network ICGN 
• Forum Nachhaltige Geldanlagen FNG 
• Swiss Sustainable Finance
• Swiss Association for Responsible Investments

At many companies, sustainability is not just a topic taken into account in investments, but is also part of everyday business. In addition, many companies are also involved in specific activities linked to the concept of sustainability outside their company. 

Here are a few examples to illustrate further activities of insurance companies relating to sustainability:

• Sustainable design of company properties through sustainable operation or sustainable property refurbishment 
• Implementation of ESG factors in the core processes of all units and teams 
• Specific objectives to reduce operational CO₂ emissions 
• Switch to renewable electricity 
• Reduction in paper consumption

• Social engagement through specific sponsorship measures 
• Commitment to social and professional reintegration 
• Support of SMEs that develop innovative solutions for climate protection 
• Promotion of mobility for people with physical impairments  
• Promotion of biodiversity and diversity of species 
• Support for the Ombuds Office Children’s Rights Switzerland 
• Prevention projects for natural hazards 
• Support for the Swiss Paralympics