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It's our world, and here's how we're collaborating to make a difference in celebration of Global Goals Week
Global Goals Week is well and truly underway and through our Responsible Business Programme we are continuing to support the UNSDGs and incorporating the principles of the UN Global Compact into our local and global initiatives.
The 40-degree temperatures experienced in July 2022 would have been extremely unlikely without human-caused climate change. This is the conclusion of World Weather Attribution (WWA). This means that the destruction of homes by wildfires in the UK, while being ignited by other causes, occurred as a result of conditions caused by the changing climate.
The Bank of England has published its findings following the Climate Biennial Exploratory Scenario it set for seven banks, five life insurers, six general insurers and ten Lloyd’s syndicates (UK entities only) over the past year.
Environmental, Social and Governance (ESG) commitment has become of increasing significance to businesses. However, there is currently no standard approach within the ESG ratings industry which has led to a lack of consistency in ESG assessments. In this article, we explore the challenges this inconsistency has created for businesses and how their ESG commitments are perceived.
Our latest global report finds that the insurance industry has a central role in building wider understanding about climate-related risks and in mitigating against those risks.
Insurers must continue to support climate change research and forecasting, as well as commit to sharing it for the common good. Extinction Rebellion’s protests outside Lloyd’s headquarters in April 2022 made headline news, highlighting the real demands that the insurance industry is facing to tackle climate change.
With mandatory climate disclosures becoming law in the UK, effective from 6 April 2022, and the United States Securities & Exchange Commission announcing its long awaited climate disclosure rule on 21 March 2022, this report provides a snapshot of the approach towards climate disclosures in some of the jurisdictions in which Kennedys operates, before focusing on what this means for our policyholder and insurer clients in the financial lines arena.
With the growing importance of environmental, social and governance issues, companies are starting to recruit people to senior executive positions to oversee their strategies. Pamela Kokoszka investigates if the role of chief ESG officer is here to stay, or – if like the role of chief digital officers recruited in the 2010s – will be absorbed elsewhere once ESG becomes more embedded within their employers.
On 24 January 2022, the OEP was granted its existence in law by virtue of the Environment Act 2021. Only a day after, it released its draft strategy and enforcement policy and a period of consultation commenced in respect of them both. In this article, we set out the duties of the OEP, its proposed enforcement strategy and policy, and our initial thoughts on how effective the OEP may indeed be in its role.
In this report, Kennedys experts highlight some key legal and regulatory developments and provide an overview of the business critical topics that the construction sector and insurers should consider as they plan for operational resilience in 2022 and beyond.