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Manchester (UK) – Wednesday 1 November 2023: ICMIF members have USD 1 trillion in assets under management in investments which are aligned to sustainable investment frameworks, according to the new 2023 edition of the ICMIF Members Sustainable Investment Report, an increase of 32% compared to the 2022 report.
Data in the report shows that ICMIF members are collectively investing USD 1,003 billion in sustainable investment frameworks, which includes green bonds, social bonds and resilience bonds for example; many of which will be targeting climate change and its effects. This represents an increase of 32% from the USD 759 billion collectively invested by members in 2022.
Mutual and cooperative insurers represent almost 30% of the world’s insurance market and USD 10.4 trillion in assets.
Speaking about the latest report’s publication, Shaun Tarbuck, ICMIF CEO said: “The latest edition of the ICMIF Members Sustainable Investment Report reveals the results of the 2023 ICMIF Sustainability Investment Framework Survey which are testament to how our members have continued to increase levels of investments in sustainable frameworks since the inception of our survey in 2019. The insurance industry is uniquely positioned to assist with delivering climate action as it has both the assets to invest and the in-depth knowledge of the many risks that need to be mitigated both on a macro level and a community level to make people and the planet more resilient.”
The report highlights ways in which ICMIF members are continuing to lead by example in in terms of sustainable investments.
Key findings:
Download the report to learn more about the sustainable investments being made by ICMIF members
Notes for editors:
About ICMIF
The International Cooperative and Mutual Insurance Federation (ICMIF) is the global association for cooperative and mutual insurers. As a membership organisation, the Federation’s mission is to help its member companies achieve their strategic goals and sustainably grow in their local markets.
Focusing on the key areas of mutuality, sustainability and business transformation, ICMIF’s networking and business intelligence activities leverage the knowledge, competencies and experience of its global network of member-owned and purpose-led insurance companies across 60+ countries. Through its influence work, ICMIF represents the interests of global mutual/cooperative sector – accounting for approximately 26% of the global insurance market – to key stakeholders around the themes of resilience, disaster risk reduction, sustainable development and responsible investing. For more information, visit icmif.org.
For further information, please contact: Alison Grant, Communications Manager, International Cooperative and Mutual Insurance Federation: alison@icmif.org
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