Netherlands: Agreement signed for intl. socially responsible investing in insurance sector

Author: Social and Economic Council of the Netherlands , Published on: 10 July 2018

"Insurance sector agrees commitments on responsible investing", 5 July 2018

[T]he insurance sector, civil-society organisations, trade unions, the Minister of Foreign Trade and Development and the Minister of Finance, signed the IRBC Insurance Sector Agreement. The agreement helps to clarify the international chain and thus prevent and tackle such issues as human rights violations, environmental damage...

With the new agreement, Dutch insurers are the first in the world in this sector to enter into a broader and more ambitious agreement that addresses issues relating to the environment and social conditions and also corporate governance (the “ESG” themes). The commitments in the agreement are based on the OECD guidelines for multinational organisations and the UN guidelines for companies and human rights...

In the first year, the parties will initiate joint projects in the field of energy transition and climate change. By collaborating on the projects, they will gain a better understanding of the risks in this field, and action can be taken to tackle them. They will hold one another to account regarding agreed objectives and will work together to find solutions...

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