UN, WWF and world’s insurers unite to launch first insurance industry guide to protect UNESCO World Heritage Sites
Geneva/Gland/Paris/São
Paulo, 15 October 2019—The first guide for the insurance industry to protect our world’s
priceless and irreplaceable assets was launched today at a major event by UN
Environment’s Finance Initiative (UNEP FI) in São Paulo, Brazil, convening
leading insurers, investors and banks.
To develop
the guide, UN Environment’s Principles for
Sustainable Insurance Initiative (PSI)—the largest collaboration between
the UN and the insurance industry—worked with its member insurers, WWF and the UN
Educational, Scientific and Cultural Organization (UNESCO) World Heritage
Centre, and was supported by ECOFACT,
a sustainability service provider.
The main
aim is to provide practical guidance to insurers on how to prevent or reduce
the risk of insuring and investing in companies or projects whose activities
could damage World Heritage Sites, particularly in relation to sectors such as
oil and gas, mining, and large-scale hydropower. Other relevant sectors include
logging, fishing, agriculture, plantations, and large-scale infrastructure such
as pipelines, roads and mega-ports.
World
Heritage Sites are recognised for their unparalleled beauty, global
significance and/or biological diversity and the important economic, social and
environmental benefits they provide. Natural World Heritage Sites, in
particular, provide vital resources such as food and water, and contribute
significantly to economies through jobs, tourism and recreation. They also
deliver critical environmental services such as stabilising soils, preventing
floods and capturing carbon, all of which increase our resilience to the most
harmful impacts of a warming climate. However, almost half of all natural World
Heritage Sites are threatened by industrial activities and large infrastructure
developments, which may cause irreversible damage.
“Protecting World Heritage Sites for present and future generations is
not an option, but an obligation for all. Losing these treasures means losing
sources of life, inspiration and human well-being, and losing the war against
unsustainable development,” said Butch Bacani, who leads the PSI at UN Environment and who
launched the guide in São Paulo. “This guide
will help insurers protect our world’s most prized assets in their risk
management, insurance and investment activities, while curbing carbon
emissions, building disaster resilience, and ensuring healthy ecosystems. We
call on insurers around the world to unite behind the science, show decisive
leadership, and take ambitious action in insuring a sustainable future.”
“Natural World Heritage Sites include some of the world’s most amazing
landscapes. A source of wonder and inspiration, they also provide critical
habitats and vital services such as freshwater,” said Margaret Kuhlow, WWF Finance Practice
Leader. “This practical guide will enable the
insurance sector to make long-term investment decisions that reflect the value
of natural World Heritage Sites and support the 11 million people who depend on
them for their well-being. We look forward to continuing our work with UNESCO
and PSI to support the industry in implementing this guidance.”
Ernesto
Ottone R., UNESCO Assistant Director-General for Culture said, “By
proposing sites as World Heritage sites, countries recognise their importance
for humankind and commit to protect them. But conserving World Heritage sites
is the duty of every one of us. Too many World Heritage sites are threatened by
unsustainable development or large-scale infrastructure. We believe the banking
and insurance sectors can significantly contribute to protecting these
outstanding places by ensuring that their portfolios avoid projects which could
impact them. This publication is a very practical and hands-on toolkit on how
to achieve this.”
The
PSI-WWF-UNESCO guide explains the risks that insurers face and outlines a set
of basic and advanced recommendations that insurers can implement in their risk
management, insurance and investment activities. The recommendations span key
areas of action: 1) accessing data and understanding best practice; 2) raising
awareness and supporting widespread action; 3) developing and implementing a
World Heritage Sites risk approach; 4) protecting World Heritage Sites
proactively; and 5) engaging clients and investee companies. The guide also provides
insightful case studies, and a sample World Heritage Sites risk assessment
checklist for insurers.
Critically,
the principles of good risk management and sustainability embodied in the guide
can also be used for various types of protected areas—from strict nature
reserves, wilderness areas and national parks; to natural monuments and
features, and protected landscapes and seascapes—as well as Ramsar sites,
wetlands of international importance.
As a joint
effort by the PSI, WWF and the UNESCO World Heritage Centre, the guide shows
that collaboration is essential. It is a call to action for insurers around the
world to join the global effort to protect the priceless and irreplaceable
assets that make up our World Heritage for present and future generations.
Signatories
to the insurance industry statement of commitment to protect World Heritage
Sites include: AGROASEMEX (Mexico), Allianz (Germany), Caixa Seguradora
(Brazil), Interamerican (Greece), La Banque Postale (France), Liberty Seguros
(Brazil), Mongeral Aegon (Brazil), Nat Re (Philippines), Peak Re (Hong Kong
SAR, China), Porto Seguro (Brazil), RepRisk (Switzerland), Risk Management
Solutions (USA), SCOR (France), Seguradora Líder DPVAT (Brazil), Sompo Japan
Nipponkoa (Japan), Swiss Re (Switzerland), Tokio Marine Seguradora (Brazil),
the Brazilian Insurance Confederation (CNseg), Certified Sustainable Insurance
Partners (USA), Earth Security Group (UK), ICLEI – Local Governments for
Sustainability, the Insurance Council of New Zealand, the Microinsurance
Network, and the Philippines Insurers & Reinsurers Association.
Quotes from signatories to the insurance industry’s commitment to
protect World Heritage Sites
- Laurent Jumelle, CEO, Caixa
Seguradora (Brazil): “By becoming part of a global group of
insurance companies that support the agenda of world heritage protection,
Caixa Seguradora reaffirms its commitment with environmental preservation
whereas shaping its future through positive results on both preservation
and management of environmental risks.”
- Carlos Magnarelli, CEO, Liberty
Seguros (Brazil): “At Liberty Seguros we believe that sustainable development is
everyone’s duty. We invest in social initiatives generating shared value
and we consider ESG criteria in our actions, projects and partnerships
also we collaborate for the environment, managing the waste from our
business. Supporting the World Heritage Protection agenda reinforces our
commitment to the sustainability of the planet. Protecting irreplaceable
assets should be a commitment of all.”
- José Carlos Mota, Director,
Governance, Risk & Compliance, Mongeral Aegon (Brazil): “Mongeral
Aegon’s mission is to protect the future of people, which includes
understanding, managing and taking risks, and encouraging innovative
action. We sign this declaration as we understand that we have an
obligation to continue taking care of public assets, reaffirming
participation in programs such as United Nations initiatives and
Adote.Rio, and contributing to the development of society as an
organization committed to sustainable planning and that enables new
business.”
- Eckart Roth, Chief Risk
Officer, Peak Re (Hong Kong SAR, China) & Member of the PSI Board: “Protecting
cultural heritage is a way to protect the communities around them, by
building in economic resilience for these communities who derive their
livelihoods linked to the heritage protected. Peak Re was built with the
purpose to protect the emerging middle class through supporting the needs
of their communities through reinsurance. We are pleased to be acting in support
of this important cause.”
- Roberto de Souza Santos, CEO,
Porto Seguro (Brazil): “The Porto Seguro Cia de Seguros
Gerais, as one of the leading insurance companies in the Brazilian market
and responsible risk and capital manager, recognizes that World Heritage
is a driving force for the economic, social and environmental
sustainability of our country and the world. Thus, we are committed,
whenever possible in the development of our business and services, to
ensure the preservation and reduction of risks that threaten the
exceptional universal value of those places.”
- Dr Philipp Aeby, CEO, RepRisk
(Switzerland):
“Safeguarding protected areas is crucial for
biodiversity conservation and we are pleased to see an industry guide that
helps insurers worldwide in doing so. RepRisk is a proud supporter of the
commitment to protect World Heritage Sites and encourage enhanced risk
assessment and transparency in underwriting and investment processes. By
providing risk research on companies and infrastructure projects
worldwide, we enable insurance providers to conduct ESG due diligence.”
- Daniel Stander, Global Managing
Director, RMS (USA): “World Heritage Sites are uniquely
significant. They provide important socioeconomic and environmental
benefits. They are, however, at serious risk. Insurance companies play a
triple role as the world’s risk managers: as physical risk managers, as
financial risk managers and as investment risk managers. Today’s launch is
an important demonstration of the insurance industry’s leadership. The
guide offers practicable ideas for re/insurers to deploy their unique risk
management expertise in support of the global effort to protect our World
Heritage and the significant benefits thereof.”
- Jean-Paul Conoscente, CEO of
SCOR Global P&C (France): “As a founding signatory of the
Principles for Sustainable Insurance, an early adopter of the first-ever
insurance industry statement to protect World Heritage Sites, and amidst
mounting pressure on ecosystems and biodiversity, SCOR welcomes the release
of the first collaborative industry guide to better understand, prevent
and reduce risks that threaten the outstanding universal value of World
Heritage Sites.”
- Ismar Tôrres, CEO, Seguradora
Líder DPVAT (Brazil): “Seguradora Líder, responsible for the
DPVAT Insurance, is committed to the Principles for Sustainable Insurance
(PSI), embedding them into its culture and activities. We support and work
with initiatives that include best practices in environmental, social and
governance principles. We are proud to be included in this relevant PSI,
WWF and UNESCO initiative. Only by increasing the number of similar
actions could we strengthen sustainable solutions in our sector.”
- Shinji Tsuji, Group COO,
Director, Deputy President & Representative Executive Officer, Sompo
Holdings, Inc. (Japan): “The launch of the PSI-WWF-UNESCO
insurance industry guide is a great opportunity as the first step by
global insurers to protect World Heritage Sites. We hope these good
practices will reach many stakeholders and promote various approaches to
achieve a sustainable future.”
- Patrick Raaflaub, Group Chief
Risk Officer, Swiss Re (Switzerland): “We believe
the new Global Insurance Industry Guide is a significant step forward in
making the protection of World Heritage Sites a market standard. The guide
confirms Swiss Re’s long-standing commitment, as well as our established
policies and procedures to preserve protected areas.”
- Jose Adalberto Ferrara, CEO,
Tokio Marine Seguradora S.A. (Brazil): “Tokio Marine
Seguradora S.A. in Brazil recognizes World Heritage Sites as drivers of
economic, social and environmental sustainability, and the important role
of the insurance industry in protecting World Heritage Sites. Our mission
is to provide safety and security to people and companies, contributing to
the progress of the society. Therefore, we adhere to the declaration
developed by UN Environment’s PSI Initiative, WWF and UNESCO, and commit
to taking actions proactively to protect World Heritages Sites.”
- Marcio Serôa de Araujo
Coriolano, President, Brazilian Insurance Confederation (CNseg): “As
the association representing Brazilian insurance companies, we recognize
the outstanding universal value of World Heritage Sites and endorse our
associates’ commitment and efforts in understanding, preventing and
reducing risks that threaten these places. Together with UNESCO, WWF and
the PSI Initiative, we will work to promote the key role of the insurance
industry in protecting the priceless and irreplaceable assets that make up
our world heritage.”
- Tim Grafton, CEO, Insurance
Council of New Zealand (ICNZ): “Insurance
seeks to prevent loss and if it occurs to restore it. World Heritage Sites
are unique treasures that once lost are gone forever. Today many sites are
threatened. This guide is a valuable contribution to help insurers protect
these treasures for generations to come.”
- Michael Rellosa, Executive
Director, Philippine Insurers & Reinsurers Association (PIRA): “At
a time in our history where humankind is faced with numerous issues and
those related to World Heritage Sites are relegated to the background, the
importance of preserving such sites come to the forefront. The launch of
this guide is timely and its necessity paramount especially for countries
such as the Philippines where our own World Heritage Sites are imperilled
by other interests.”
For more information, please contact:
UN Environment
(Geneva)
Olivia Fabry, PSI
Programme Supervisor: +41 22 917 8887 / olivia.fabry@un.org
Sally
Wootton, UNEP FI Communications Lead: +41 22 917 8591 / sally.wootton@un.org
WWF
International (London)
Karen
Richards, WWF International Media Manager: +44 7775 552595 / krichards@wwfint.org
UNESCO
World Heritage Centre (Paris)
Gina
Doubleday, Communications Officer: +33 14568 1660 / g.doubleday@unesco.org
Notes to editors
Download
the guide: Protecting
our World Heritage, insuring a sustainable future
Visit the project website for more
information.
About
the latest reports of the Intergovernmental Panel on Climate Change (IPCC) and
Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem
Services (IPBES)
Last year’s
IPCC report highlights the rapid, far-reaching and unprecedented changes needed
to limit global warming to 1.5°C. As rising temperatures accelerate sea level
rise and catalyse extreme weather events, communities, businesses, cities and
countries are facing new types and higher levels of risk. Furthermore, the 2019
IPBES report finds that around 1 million animal and plant species are now
threatened with extinction.
Meanwhile,
the recent IPCC report highlights the urgency of prioritising timely, ambitious
and coordinated action to address unprecedented and enduring changes in the
ocean and the cryosphere—the frozen parts of the planet. The ocean—whose health
and integrity is critical to providing oxygen, food and other resources; absorbing
carbon emissions and heat; and building coastal resilience—is under immense
pressure from unsustainable development.
Amid this
context, the economic and social costs of natural disasters are escalating, and
the insurance protection gap is widening.
About UN
Environment’s Principles for Sustainable Insurance Initiative
Endorsed by
the UN Secretary-General and insurance industry CEOs, the Principles for
Sustainable Insurance (PSI) serve as a global framework for the insurance
industry to address environmental, social and governance risks and
opportunities—and a global initiative to strengthen the insurance industry’s
contribution as risk managers, insurers and investors to building resilient,
inclusive and sustainable communities and economies. Developed by UN
Environment’s Finance Initiative, the PSI was launched at the 2012 UN
Conference on Sustainable Development, and is the largest collaborative
initiative between the United Nations and the insurance industry.
www.unepfi.org/psi / Twitter:
@PSI_Initiative
About
WWF
WWF is one
of the world’s largest and most respected independent conservation
organizations, with over 5 million supporters and a global network active in
over 100 countries. WWF's mission is to stop the degradation of the
earth's natural environment and to build a future in which humans live in
harmony with nature, by conserving the world's biological diversity, ensuring
that the use of renewable natural resources is sustainable, and promoting the
reduction of pollution and wasteful consumption.
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