Mack participated in an event convened by UN Environment’s Principles for Sustainable Insurance Initiative (PSI) and Munich Re, US in Princeton, November 27-28

The “Shaping the sustainable insurance agenda in North America” event was convened by UN Environment’s Principles for Sustainable Insurance Initiative (PSI) and Munich Re, US, on 27-28 November 2017 in Princeton. The event aimed to articulate core elements of a North American sustainable insurance agenda that would set the foundation for a roadmap to catalyze action and raise ambition in building resilient and sustainable communities and economies.

UN Environment Program Financial Inisitiative (UNEPFI) official website
Event official website (via UNEPFI)

The event covered key sustainability challenges and opportunities for the North American insurance industry, including climate change, natural disasters, cities, infrastructure and insurtech, also in the context of global policy frameworks such as the UN Sustainable Development Goals, the Paris Agreement on Climate Change, and Sendai Framework for Disaster Risk Reduction. It convened insurance industry leaders in the US, Canada and Bermuda, as well as insurance regulators and associations, investors, rating agencies, and senior representatives from the wider business community, the UN, academia, and the development community.

Program of the “Shaping ther sustainable insurance agenda in North America” event

Mack participated in the Session 4: How the insurance industry can help build resilient and sustainable infrastructure and cities. The panel was moderated by Mr. Butch Bacani, UN Environment, and focused on how the insurance industry and wider business community, foundations, and local governments are helping build resilient and sustainable infrastructure and cities through various partnerships and initiatives, with the following panelists:

  • Mr Jose Peralta, Director, Aon Risk Solutions, US
  • Mr Don Forgeron, President & CEO, Insurance Bureau of Canada
  • Makoto Okubo, General Manager, International Affairs, Nippon Life
  • Ms Brigid Shea, County Commissioner, Precinct Travis County, Texas & Member of the Board of Directors of ICLEI
    – Local Governments for Sustainability US
  • Ms Barbara Turley-McIntyre, Vice President, Sustainability, The Coboperators Group

During the panel discussions, Mack made introductory remarks regarding sustainable long-term investments, including topics such as upgrading resilient infrastructure and Nippon Life’s ESG investments. He also responded to questions related with enhancing public health as part of sustainable development and incentives for institutional investors to sign Principles for Responsible Investment (PRI).

UN Principle of Responsible Investment (PRI) official website

Lastly, suggested by Mr Butch Bacani, Mack shared his proposals to support sustainable and resilient development:

  • Changing overall regulatory philosophy to incentivize insurers to be good in the long run, rather than looking good at the current market
  • Elaborating politically balanced concepts for the purpose of supporting sustainable development as outcome
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