The world has evolved its approach to sustainability. From specialised think-tanks, the main debate has now moved on to the G20 and other Financial Stability fora. This makes it clear that the financial sector (including the insurance sector) clearly has a role to play in a more sustainable world - and that's all to the good!
The European Union has been encouraging us to set an example in this field. For example, Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability related disclosures in the financial services sector (referred to as the ‘SFDR’) came into force on 10 March 2021.
The SFDR is focused on achieving the United Nations sustainability goals by influencing the financial investments made, among others, by life insurance companies. This not only concerns combating climate change but also - under the Environmental, Social and Governance (or ‘ESG’) heading - of adopting practices to achieve ecological, social and good corporate governance objectives.
This concerns us, as an insurance company, just as it concerns all other finance companies and insurance brokers when they offer insurance investment products.
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At the moment, Bâloise Vie Luxembourg SA is not in a position to comment on the negative sustainability impact of its business activity. Nevertheless, we are making every effort to analyse any possible environmental, social or corporate governance implications.
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