KARACHI: TPL Insurance has joined the United Nations Environment Program Finance Initiative (UNEP FI) by signing its Principles of Sustainable Insurance (PSI). This is the first time an Insurance Company in Pakistan has become a signatory to UNEP FI’s PSI.
The UNEP FI is a strategic partnership between the UN Environment Program and the global financial sector to advance sustainable finance. More than 300 financial institutions work with UN Environment to understand emerging environmental, social and governance issues, why they matter to the finance industry, and how to address them in banking, insurance and investment decision-making and market practice.
TPL Insurance will be a part of the global community of banks, insurers and investors committed towards sustainable development. The Company will continue to put sustainability at the heart of its business strategies and long-term plans, working with key stakeholders to raise awareness of actions to be taken to manage the country’s Environmental, Social and Governance (ESG) issues. The insurer will implement UNEP’s extensive knowledge and best practices into its business frameworks – benefiting from UN expertise, a global learning network and fora.
“Signing the PSI is a concrete example of sustainability leadership and commitment. We look forward to working together with TPL Insurance in turning the four Principles for Sustainable Insurance into practice,” said, the UNEP FI in welcoming TPL Insurance on board the initiative.
This will enable TPL Insurance to develop impact-driven insurance solutions in pursuit of the company’s mutual environmental, social and development goals. It is a concrete step towards sustainable leadership and development. In partnership with UNEP FI, TPL Insurance is looking to lead the industry by example and pave the way for a more sustainable future.
Commenting on the occasion, Muhammad Aminuddin, CEO of TPL Insurance said, “We take deep pride in joining hands with UNEP FI and its global community of banks, insurers and investors in a drive towards incorporating sustainable insurance into practice. Corporate Social Responsibility is at the heart of everything we do at TPL and we remain committed to behave ethically, contributing to the economic development of the local community and society at large.”