Why would you need ESG focussed insurance cover? ESG is increasingly important to business today, particularly when the business is in the ethical sector of the market and Sustain Insurance Brokers are a specialist provider in the insurance sector focussing on businesses with a strong environmental, social and governance (ESG) values.
What is Environmental, Social and Governance (ESG)?
Environmental, social and governance are “a set of standards measuring a business’s impact on society, the environment, and how transparent and accountable it is” (British Business Bank).
Environmental – how the business minimises its impact on the environment, for example carbon reduction through clean energy
Social – how the business impacts on wider society and the local community, for example fair employment practices
Governance – how the decision making and logistics are handled in the business, for example increasing transparency with communications and reports
The benefits to business of ESG
The benefits to business of ESG are many. Carbon reduction can reduce costs for energy, packaging and transportation. Consumers say they will pay more for ethical products and services. A strong ESG policy indicates that your business is transparent and ethical. This can attract investment from providers that insist on ethical transparency and would not otherwise support your business.
Sustain Insurance Brokers are mission-led and align themselves with businesses that are addressing the ESG values in their companies. This also aligns them with Blue Patch and our work to support carbon reduction, local community and transparency in our community of sustainably-minded businesses – all areas of ESG. Blue Patch already offers free training on carbon reduction and transparency in our net zero programme, available to all our community membership. Future modules will offer training on social factors.
“At Sustain Insurance Brokers, we believe that doing business responsibly and sustainably is not just the right thing to do, it’s a strategic advantage. Our membership with Blue Patch reflects our commitment to supporting businesses that share our ESG values and to helping our clients navigate their own sustainability journeys with confidence.”
— Jonathan Evans, Founder, Sustain Insurance Brokers
At Blue Patch, we believe that every aspect of a business matters and that includes our choice of financial suppliers and providers like banks, insurers and investment firms. By choosing to use like-minded companies, we can ensure that our money is not going into the investment of, for example, the continued extraction of fossil fuels. It’s imperative for the UK’s clean energy transition.
Sustain Insurance Broker’s commitment to ethical insurance is not just a buzz-word for them. It forms the backbone of everything they do. They believe it is not just the responsible choice, but it is also beneficial for a business seeking insurance as it reduces risk exposures.
As Sustain offers insurance from a broad panel of insurers they are able to tailor make a policy that is structured to meet the specific challenges your business faces and provide independent advice. They cover a wide range of commercial insurance needs from professional indemnity to marine cargo for a range of businesses from commercial to not-for-profit and charity. They are ESGmark® certified and B-Corp accredited so they can provide expert advice to B-Corps. Visit their website at www.sustainib.co.uk for further information.
