ICICI Pru first insurer to sign UNPRI on ESG issues

[ad_1]

ICICI Prudential Life Insurance has recently signed United Nations supported Principles for Responsible Investment (UNPRI) demonstrating its commitment towards Environment, Social and Governance (ESG) issues. It is the first Indian insurance company to do so. 

In its journey towards promoting sustainability, the Company is integrating ESG factors into its investment management framework. As a responsible corporate it has also adopted sustainability principles across its business activities.

The company in a recent release said, the sustainability framework is built on three pillars of ESG which include leaving the planet a better place for the next generation, giving back to society and transparency in functioning. 

With Assets under Management of over 2.37 trillion, ICICI Prudential Life Insurance is a key institutional investor and believes integrating the ESG framework in its investment management practices will ensure sustainable value creation for all stakeholders, the release said adding, “The Company also engages with investee companies on ESG issues to ensure the business operates in a responsible and sustainable manner, benefitting the environment, society and investors.”

Mr. Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance said, “We are delighted to be the first Indian insurance company to become a signatory to the UNPRI. This reinforces our commitment towards integrating a responsible framework to promote Environmental, Social and Governance factors in our investment management decisions. Climate change is impacting lives and livelihoods around us and as one of the largest domestic financial institutions in the country, it is incumbent on us to act proactively and responsibly on ESG factors to save the planet.”

“As part of our commitment towards promoting sustainable investing we recently launched the ‘Sustainable Equity Fund’, an ESG-focused fund, and in the process became the first life insurance Company in India to do so. Promoting sustainability is a natural extension of our vision of building an enduring institution which serves the protection and long-term saving needs of customers with sensitivity. We firmly believe that adopting the Principles of Responsible Investing will nudge corporations to enhance focus on ESG initiatives to build sustainable businesses which in-turn generate superior returns for all stakeholders.”

 

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!

[ad_2]

Source link