In today's rapidly changing world, sustainability has become a critical component of business strategy across all industries.
The financial industry, which plays a critical role in the financing and protection of businesses and their assets is now expected to drive greater sustainability by investing and protecting ventures which are sustainable.
This trend therefore presents, the insurance industry which is an integral core of the financial industry a unique opportunity to drive positive change and sustainability by incorporating Environmental, Social and Governance (ESG) considerations into its operations.
Before I delve into the subject, one may ask; what is sustainability and how can the insurance industry drive sustainability and expected positive change?Sustainability in business practice refers to strategies and operational processes that meet the needs of the present without compromising the ability of future generations to meet their own needs.