By investing in a socially responsible way, insurers contribute to combating climate change and international abuses. To this end, the Association has signed the IRBC Insurance Sector Agreement on behalf of the insurance sector and has committed itself to the Climate Agreement.
IRBC 2.0 is a fact! The Association is proud that the sector is going to make its current and future investment policy more sustainable through a joint ambition. What is new is the focus on three unique projects, each of which has the potential to make a real difference with impact that helps society move forward. Want to know more? Read how we do it.
The sector has had the Sustainable Investment Code since 2012. In 2018, this code was thoroughly updated through the IRBC Insurance Sector Covenant in consultation with governments, civil society organisations and trade unions. On 5 July, the Association signed the covenant on behalf of all its affiliated insurers and Zorgverzekeraars Nederland. Through the agreement, insurers try to prevent, reduce and, if necessary, repair the negative impact of their investments as much as possible. The agreement has now ended after a five-year term, on 5 July 2023.
During the term of the agreement, the insurers, NGOs and governments involved have developed tools and guidelines . These tools help insurers to make their investment policy more sustainable on the basis of ESG themes based on due diligence.
The five-year focus on the investment policy forms a solid basis for complying with future IRBC legislation and for further cooperation. The parties involved would like to build on this. That is why discussions are taking place about this future collaboration. The proposed new approach runs parallel to the continued focus on responsible investment. The focus is on complying with international guidelines for responsible investment policy (getting the basics right), new (European) laws and regulations for responsible investment and the implementation of the investment policy through asset managers.
For more information, see the website IRBC Agreement for the Insurance Sector.
