Wawanesa Mutual Insurance Company has become a signatory of the Principles for Sustainable Insurance (PSI), a global sustainability framework established under the United Nations Environment Programme’s Finance Initiative (UNEP FI).
By becoming a PSI signatory, the Winnipeg-headquartered insurer joins the largest collaborative initiative between the United Nations and the insurance industry.
Kimberly Palatnick, chief strategy & member experience officer, spoke of Wawanesa’s decision to take part in the initiative, highlighting the organization’s commitment to “building safer, healthier, and more sustainable communities” in a news release.
“As a mutual insurer, we’re proud to join the UNEP and other PSI signatories on priority issues affecting our members and communities,” Palatnick said.
UNEP FI’s PSI outlines a comprehensive framework addressing environmental, social, and governance (ESG) risks. It has over 150 signatory companies, as well as 103 supporting institutions.
In adopting the PSI, Wawanesa has identified five focus areas to achieve its ESG goals:
Wawanesa has demonstrated its commitment to sustainability through recent initiatives, including the launch of its Eco-Friendly Homes and Stronger Homes products. It also has internal emission targets and has advocated for changes to building codes.
Additionally, the insurer has allocated $2 million annually to its community impact program, Wawanesa Climate Champions. The funding will go towards supporting individuals and organizations working to enhance climate resiliency in communities across Canada.
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