BIBA reaffirms ESG commitments

Last week, The British Insurance Brokers’ Association (BIBA) reaffirmed its ongoing commitment to Environmental, Social & Governance (ESG) for 2024.

Related topics:  BIBA,  insuring the planet
Tabitha Lambie | Editor, Protection Reporter
26th February 2024
"2024 will see us solidify our work and better demonstrate, through our actions, our commitment."
- Graeme Tudgill, CEO of BIBA

The British Insurance Brokers’ Association (BIBA) continues to demonstrate its “commitment to sustainable finance.” Within its policy, the association states that “focusing on good governance, responsible sourcing, mental wellbeing, diversity, equity & inclusion in the workplace and environmental footprint reduction is paramount.”

BIBA will maintain an Environmental, Social & Governance (ESG) policy which is reviewed regularly and communicated to key stakeholders – members, staff, contractors, suppliers, regulators, and the wide insurance industry. This policy will be primarily implemented by BIBA staff, but as a minimum, the industry body will conform to all applicable legal & regulatory requirements in the UK.

In terms of BIBA’s environmental commitment, key strategic priorities include identifying pathways to reduce carbon emissions in line with the guidance from the UK government; collaborating with members for a low carbon future; supporting green repairs and the circular economy; delivering BIBA events and conferences with minimum environmental footprint.

“We are committed to having a strong, inclusive and collaborative working culture, whilst being an equal opportunity employer,” stated BIBA. The association currently provides employee handbooks with guidance on the processes for tackling subjects like bribery, equal opportunities, flexible working, information security, and professional conduct, as well as grievance and whistleblowing procedures to safeguard employees. Key strategic priorities for BIBA moving forward include creating a diverse and inclusive workplace; improving gender equity at all levels; fostering a safe and healthy work environment.

Governance defines a set of rules and good practices, with a series of processes to determine how the association is managed and controlled. “We will continue to put our members first and will act with integrity and transparency in the interests of our stakeholders,” promised BIBA, “we work to represent and protect our members’ best interests.” The association’s key strategic priorities include ensuring effective engagement and support for members; responsible sourcing and consumption in-line with its Supplier Management Policy; monitoring and anticipating ESG & industry risks to feed into governance processes.

Graeme Tudgill, CEO of BIBA, said “we can look back on 2023 as a year of implementation for our ESG policy, where we made progress giving form to our ideas and plans for action across the association.” He believes 2024 will solidify this work and “better demonstrate our commitment to ensure a positive impact on the people and communities that the broking sector supports.”

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