As part of the environmental, social and governance (ESG) agenda, sustainability reporting requirements are changing the business landscape. For insurance organisations, sustainability reporting has become commercially and strategically important and offers a number of potential benefits to those who can successfully integrate it into their operating model.
However, sustainability reporting presents some challenges. Whereas there are long-established processes and controls in place for financial reporting, the same is not the case for non-financial information.
In this report, KPMG professionals explain how insurers can drive a successful transition to embed sustainability reporting through the organisation. This requires non-financial reporting processes and metrics to be embedded within the operating model so that disclosures become a natural output of how the business functions, rather than an additional onerous effort.
ESG in Insurance: Practical implementation of sustainability reporting
Discover how insurance leaders can make sustainability reporting a day-to-day reality in their organisation.
Download report (1.48 MB) ⤓
Why sustainability reporting is important for insurers
Sustainability reporting matters. It’s a way for insurers to demonstrate how sustainable the organisation is to its clients and customers. It’s an opportunity to help live out the company values. And the market is increasingly requesting details on sustainability policies and practices.
What’s more, for insurance businesses sustainability can drive competitiveness and increased sales – such as through the large and growing market for green or ethical insurance products and investments. It can also drive the share price, by demonstrating to investors and rating agencies that the organisation has a resilient and sustainability-conscious business model, enhancing its position in sustainability index ratings.
