About Us
About Us
HKFI’s work on green and sustainable insurance
The HKFI, as a supporting institution of the Principles for Sustainable Insurance (PSI) at the United Nations Environment Programme (UNEP), is committed to promoting green and sustainable insurance. On this topic, we proactively work with our Members of different sizes and complexity on knowledge building and industry consultations, as well as maintaining regular dialogues with the Insurance Authority (IA) on climate readiness and different industry matters and participating in the initiatives of Green and Sustainable Finance Cross-Agency Steering Group (CASG). The HKFI sets up a Task Force on Green Insurance where respective subgroups have been set up under the Task Force to spearhead various topics.
HKFI’s work on green and sustainable insurance
The HKFI, as a supporting institution of the Principles for Sustainable Insurance (PSI) at the United Nations Environment Programme (UNEP), is committed to promoting green and sustainable insurance. On this topic, we proactively work with our Members of different sizes and complexity on knowledge building and industry consultations, as well as maintaining regular dialogues with the Insurance Authority (IA) on climate readiness and different industry matters and participating in the initiatives of Green and Sustainable Finance Cross-Agency Steering Group (CASG). The HKFI sets up a Task Force on Green Insurance where respective subgroups have been set up under the Task Force to spearhead various topics.
Consultancy Study on Green Insurance
To support Members in the green journey, the HKFI has initiated a consultancy study, referencing various global practices and local context. We suitably engaged Members throughout the development process to ensure market views were reflected in our study. As a result, we have identified three workstreams: Insurance Industry Climate Charter (workstream I) – Developed a climate charter referencing leading global and overseas insurance associations and localize the charter for Hong Kong context. Two briefing sessions were conducted to introduce and elaborate the ideas on the proposed climate charter. Climate Reporting Framework (workstream II) – Conducted focus groups with Members to discuss, align and prioritised ISSB Exposure Draft S2 & Appendix requirements to give additional guidance on the final proposed climate framework. A climate reporting framework is suggested. Climate Data Framework (workstream III) – Conducted focus groups with Members to discuss opinions and thoughts on purposes for data collection, data items needed, and common data gaps pertinent to property and health insurance. Potential data initiatives are suggested. The Consultancy Study on Green Insurance was released to all HKFI members.
Consultancy Study on Green Insurance
To support Members in the green journey, the HKFI has initiated a consultancy study, referencing various global practices and local context. We suitably engaged Members throughout the development process to ensure market views were reflected in our study. As a result, we have identified three workstreams: Insurance Industry Climate Charter (workstream I) – Developed a climate charter referencing leading global and overseas insurance associations and localize the charter for Hong Kong context. Two briefing sessions were conducted to introduce and elaborate the ideas on the proposed climate charter. Climate Reporting Framework (workstream II) – Conducted focus groups with Members to discuss, align and prioritised ISSB Exposure Draft S2 & Appendix requirements to give additional guidance on the final proposed climate framework. A climate reporting framework is suggested. Climate Data Framework (workstream III) – Conducted focus groups with Members to discuss opinions and thoughts on purposes for data collection, data items needed, and common data gaps pertinent to property and health insurance. Potential data initiatives are suggested. The Consultancy Study on Green Insurance was released to all HKFI members.
© Copyrights 2024. The Hong Kong Federation of Insurers. All rights reserved
© Copyrights 2024. The Hong Kong Federation of Insurers. All rights reserved