We are the voice of insurance and long-term savings | Contact us

Pillar Three: Sustainable Industry Operations

The Insurance and Long-Term Savings sector aims to reach Net Zero within its own directly controlled operations by 2025. This will involve reducing the carbon footprint of offices, working collaboratively with other local businesses, supporting the sector’s 310,000 employees across the UK to reduce their carbon footprint as society adapts to changing working patterns.

By 2030, we aim to have engaged pro-actively with suppliers to include supply chain emissions within the scope of the sector’s target of reducing overall emissions by 50%. The sector’s operational supply chain provides direct support to homes and businesses across the UK by arranging pension and income protection payments, organising repairs and replacements, commissioning healthcare treatments and repatriating overseas travellers, and reducing emissions here can have a major impact on behaviour across society.

The ABI has a strong track-record of facilitating cross-sector collaboration to enable partnership working and sharing of best practice on societal issues – with a recent example being the launch of the Making Flexible Work Charter. We will look to extend that collaborative approach to climate change and work to ensure the whole sector is able to maximise its carbon emission reductions.

The immediate four pro-active steps that the ABI will be working with its members to deliver across the sector are:

  1. Taking account of emissions reduction strategies and targets in supplier on-boarding 
    The ABI will use its convening power to encourage the use of consistent methodology in encouraging suppliers to incorporate Climate Change targets – as ABI members will often source services from the same suppliers, this consistency will encourage more businesses to review their emissions and identify where they can make emission reductions.
  2. Making sustainability a factor in decision making on suppliers
    The ABI will work with members to develop a common principle of asking providers what their strategy for addressing Climate Change is, their progress in evaluating their carbon footprint and any associated GHG reduction strategies they have in place. Adopting this principle will both shape behavioural change across the various sectors ABI members partner with and, over time, will lead to more Insurance and Long-term Savings providers onboarding sustainable suppliers.
  3. Tracking Emissions and Driving Further Change
    The ABI will facilitate co-operation between our members so they can gather a more sophisticated understanding of key trends affecting their suppliers as carbon reduction becomes normalised and suppliers adopt new technology and processes to bring greener products to market.
  4. Changing how we use products and services to support a ‘circular economy’
    The ABI will facilitate a mechanism for members to identify common ‘hotspots’ where the use and disposal of products does not meet sustainability goals, with a view to finding solutions and extending best practice.