Throughout history, insurance has improved fire protection, worker protection, and public safety protection by promoting best management practices. ESG expands those services to include environmental protection.
All enterprises pose a risk to the environment. 95% of them are unprepared, underinsured, or uninsured for those risks. The result is their enterprises have significant exposure, even catastrophic exposure, to financial failure.
The National Response Center receives over 24,000 spill reports each year. The US government reports of $446 billion of environmental cleanup up from $225 billion dollars only 10 years ago. Large enterprises can withstand such loss, but most cannot and the environment never should. ESG assists in identifying an enterprise’s environmental risk and the practices to both reduce what it can and manage the rest that it must take to thrive.
ESG underwrites environmental risk for companies that wish to protect their community as well as the reputation and financial strength of their enterprise.
ESGs underwriting service will provide you not only with financial options to respond to and fund environmental impacts your business may have but also the knowledge and systems to prevent them in the first place. This will improve your reputation among customers, employees, and neighbors.
it only takes one bad incident
to damage a company’s reputation FOR A LIFETIME!
Every risk management plan establishes protocols to handle both the incident and
the reputational damage it may cause.
In The News
According to the world renowned Kellogg Schoolof management at Northwestern University (2018)
“Sustainably minded firms are more likely to withstand industry shake-ups.”
There are many people believe that an environmental protection strategy is to costly. According to Forbes (2017)
“Many experts including the three here argue that an ESG strategy also leads to better returns.”