GUELPH, ON, June 10, 2011 /CNW/ -      

After two ground-breaking consultation meetings in the Southern Hemisphere, Canada will host from 12 to 13 June 2011 the third of seven United Nations-convened regional consultations that make up a global process to develop a set of sustainability principles for the insurance industry.

Once fully fleshed out, the United Nations Environment Programme Finance Initiative's Principles for Sustainable Insurance (UNEP FI-PSI) will serve as the global framework for insurance companies to better manage environmental, social and governance risks and opportunities in their core business strategies and operations. The principles will include concrete actions to enhance risk management and underwriting practices, stimulate innovative insurance solutions, and catalyse industry action on a range of sustainability issues such as natural catastrophe risks, climate change, ecosystem degradation, ageing populations and emerging health risks.

Executives from the United Nations will join insurance industry leaders and representatives from government, business and industry, civil society, academia and other stakeholders from Bermuda, Canada and the United States at the consultation meeting for North America.

The meeting will be hosted by the Canadian insurer, The Co-operators.

The global consultation process started in Africa and Latin America and the Caribbean, and following North America, the meetings will span Oceania, the Middle East and North Africa, Europe and Asia.

The finalised Principles will be launched at the 2012 United Nations Conference on Sustainable Development in Rio de Janeiro, Brazil, as a landmark contribution and long-term commitment of the global insurance industry to building a sustainable global economy.

About the United Nations Environment Programme Finance Initiative (UNEP FI)
UNEP FI is a unique global partnership between the United Nations Environment Programme (UNEP) and the global financial sector. UNEP FI works closely with nearly 200 financial institutions who are Signatories to the UNEP FI Statements, and a range of partner organisations to develop and promote linkages between sustainability and financial performance. Through peer-to-peer networks, research and training, UNEP FI carries out its mission to identify, promote, and realise the adoption of best environmental and sustainability practice at all levels of financial institution operations.
www.unepfi.org
www.unepfi.org/work_streams/insurance/index.html

About The Co-operators
The Co-operators Group Limited is a Canadian-owned co-operative with more than $40 billion CAD in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is ranked #1 among the 50 Best Corporate Citizens in Canada and listed among the 50 Best Employers in Canada.
www.cooperators.ca