Using a Captive Insurance Company to Drive Positive ESG Outcomes

How the UN Environment Program’s Principles for Sustainable Insurance can help captive owners address ESG risks and opportunities.

Many companies are facing increased pressure from investors, governments, regulators and consumers to address sustainability, and are taking action to assess and enhance their environmental, social and governance (ESG) profiles and define their organizations’ ESG strategies.

This report highlights the meaningful role captive insurance companies can play in supporting their parent organizations’ ESG strategy, providing insights for captive owners, insurers and regulators.

What’s Inside the Report?

The report leads off with a foreword from the Program Lead of the UN Environment Program's Principles for Sustainable Insurance (UN EP PSI) initiative, who provides a vision of the PSI and the important role captives can play in delivering sustainability. The report further discusses:

Practical ways a captive can support sustainability objectives through four key pillars:
- Underwriting
- Investment
- Risk Management and Risk Improvement
- Societal Resilience and Transition Support
How the PSI can serve as a global framework for the insurance industry — including captive owners — to address ESG risks and opportunities
How to embed ESG and sustainability concerns into a captive insurance strategy
How to prepare for the evolving responsibilities of the insurance industry

The report also includes an insightful case study from Enel Insurance NV (EINV), the captive insurer of Enel, Europe’s largest utility company and world’s second largest power company. The case study highlights how the captive supports Enel’s ESG strategy, why they decided to become the first captive signatory of the UN EP’s PSI initiative, and advice to other captives seeking to build sustainability measures into their programs.

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