Environmental,
Social, Governance

neil-eckert-conduit-re-esg

We have the opportunity from Day One to embed ESG positive initiatives across our business into areas like supply chain, investment policy and community engagement. That is an exciting and key part of the Conduit Re story for us.

Neil Eckert

Our Approach

Our fundamental approach is that sound ESG principles should be strongly embedded in the day-to-day life of Conduit Re. This promotes better risk management, innovation, sustainable outperformance, and community engagement.

We already have an ESG Working Group up and running, made up of board and non-board members. This will challenge convention, improve business practices over outdated norms and help build a business which is regarded as great to work for and with, great to be invested in and great to have as a community partner.

Conduit Re intends to be a carbon neutral business. In the short-term we will target a Net-Zero position through a combination of sound business practices and strategically chosen offset initiatives.

Specifically, we have set a number of actions for 2020/2021 that fall into two areas:

Company and Climate Change

  • Embed positive initiatives into our risk management and supply chain practices which promote positive change;
  • Adopt an investment strategy which embraces our ESG framework, for example investing where possible into Green Bonds and other fixed income securities which meet Conduit Re’s ESG and Investment criteria; and
  • Deploy our human capital, industry position and influence to be a force for change.

Company and community

  • Community outreach programme involved in local education, charitable activity, social enterprise and engagement with dislocated groups such as older citizens; and
  • Active internship programme with an emphasis on gender and racial diversity.

Reporting Framework

Conduit Re will regularly update all stakeholders on our ESG policies and initiatives through our website and as part of our corporate communications strategy.

We will use the UN Environment Programme Finance Initiative as our reporting framework for all stakeholders and an ESG Report will be set out in each Annual Report. This report will also be published on our website.

UN Benchmarking: Key Principles for Sustainable Insurance and Consideration of Achievable Actions:

  • Possible Actions

    • Ensure the company strategy identifies, amasses, manages and monitors ESG issues in business operations
    • Develop products and services which reduce risk, have a positive impact on ESG issues and encourage better risk management
    • Integrate ESG issues into risk management, underwriting and capital adequacy decision-making processes
    • Educate sales and marketing staff on ESG issues relevant to products and services
    • Integrate ESG issues into investment decision-making and ownership practices, e.g. by implementing Principles for Responsible Investment
  • Possible Actions

    • Communicate with clients and suppliers on the company’s expectations and requirements on ESG issues
    • Encourage clients and suppliers to disclose ESG issues and to use relevant disclosure or reporting framework
  • Possible Actions

    • Support prudential policy, regulatory and legal frameworks that enable risk reduction, innovation and better management of ESG issues
    • Communicate with business and industry associations to better understand and manage ESG issues across industries and geographies
  • Possible Actions

    • Proactively and regularly disclose information on the company’s progress in managing ESG issues publicly
    • Participate in disclosure or reporting frameworks