To achieve our ambition of becoming net zero by 2050, it is essential that we measure, manage and reduce the impacts across all aspects of the company’s operations.
This includes our underwriting and investment portfilios and leveraging our supplier partnerships to drive innovation and develop products to support the transition. Emissions in our supply chain (scope 3) include ALL of the activities building into and following on from the insurance policy e.g. suppliers client emissions, risk modelling, brokers.
Sustainability is a priority area for MS Amlin Underwriting Limited. We are well placed to support, influence and enable our clients through transition by drawing on our deep underwriting expertise.
Our Responsible Underwriting Philosophy:
INTEGRITY – Our strategy is centred around a desire to do the right thing. We seek to balance the interest of our four main stakeholders – our customers, our owner, our employees and our community.
TRANSITION – We believe net zero is more likely to be achieved if we responsibly recognise existing fossil fuel infrastructure, work to achieve decarbonisation and realise the UN Sustainable Development Goals (UNSDGs) with our clients, across a transition plan with hard metrics.
DIFFERENTIATION – We recognise there are strong differences in the directions various clients are heading. Our approach may also differ and will be driven by the integrity of our clients’ long-term aspirations.
PARTNERSHIP – Equitable and rational transition will not happen overnight. Our goal of net zero 2050 and alignment with the UNSDGs will only be achieved through a true partnership of facilitating decarbonisation and responsible business over a period.
- We believe that a binary approach of divesting is short sighted as it would do little to directly reduce real-world emissions in the long run.
- We are committed to working with our Investment Managers to consider what sustainability factors to include in MS AUL’s investment strategy
- We consider the processes in place to support decision making in relation to sustainability integration into investments are sufficient and appropriate
- All our investment managers are current or prospective UNPRI signatories. The majority attest on a regular basis that they incorporate ESG factors and sustainability into their investment processes.
- We aim to work with suppliers that have sound environmental principals and we have enhanced our policy, standards and processes to develop that aim. The MS Amlin Procurement Policy and Standard contains requirements to include environmental considerations when selecting suppliers to provide goods and services.
- MS Amlin has a supplier code of conduct which is put in place with strategic suppliers as they are on-boarded into the organisation. The code of conduct is a set of standards that we expect our key suppliers to adhere and covers; Human Trafficking, Labour and Employment standards, Health, Safety and Housing Standards, Environmental Standards and Anti Bribery & Corruption.