Duties and Responsibilities
Established in 1972, the United Nations Environment Programme (UNEP) is the leading global environmental authority that sets the global environmental agenda, promotes the coherent implementation of the environmental dimension of sustainable development within the UN system, and serves as an authoritative advocate for the global environment. Founded in 1992, UNEP’s Finance Initiative (UNEP FI) is a partnership between UNEP and the global financial sector to mobilise private sector finance for sustainable development. UNEP FI works with more than 450 members—banks, insurers, and investors—and over 100 supporting institutions—to help create a financial sector that serves people and planet while delivering positive impacts. Endorsed by the UN Secretary-General and insurance industry CEOs, the Principles for Sustainable Insurance (PSI) serve as a global framework for the insurance industry to address environmental, social and governance (ESG) risks and opportunities—such as climate change, biodiversity loss and ecosystem degradation, pollution and social inequality—as risk managers, insurers and investors. The PSI is a global initiative to strengthen the insurance industry’s contribution to building resilient, inclusive and sustainable communities and economies on a healthy planet in support of the UN Sustainable Development Goals (SDGs), Paris Climate Agreement, Sendai Framework for Disaster Risk Reduction, Kunming-Montreal Global Biodiversity Framework, and UN Guiding Principles on Business and Human Rights. Developed by UNEP’s Finance Initiative, the PSI was launched at the 2012 UN Conference on Sustainable Development (Rio+20) and has led to the largest collaborative initiative between the UN and the insurance industry. As of March 2024, more than 260 organisations have joined the PSI, including insurers representing about one-third of world premium and USD 15 trillion in assets under management, and the most extensive global network of insurance and stakeholder organisations committed to addressing sustainability challenges. Under the direction and supervision of the Head of Insurance & PSI Programme Leader, the Consultant will support the management, delivery, implementation, promotion and coordination of the insurance global work programme. As risk managers, insurers and investors, the insurance industry is uniquely positioned to promote economic, social and environmental sustainability—in other words, sustainable development. The four Principles for Sustainable Insurance, including a list of possible actions, provide a common aspiration and global framework for the insurance industry to manage sustainability issues, and to strengthen its contribution to building resilient, inclusive and sustainable communities and economies on a healthy planet. The Principles are structured according to the spheres of influence of an insurance company, from core business strategies and operations, through to business partners, governments, regulators and other key stakeholders. Furthermore, the Principles promote accountability and transparency. Insurance global work programme The Consultant will support the Head of Insurance & PSI Programme Leader, wider PSI/insurance and UNEP FI team, PSI members and partner organisations in the management, delivery, implementation, promotion and coordination of the insurance global work programme, which aims to contribute to achieving the PSI’s purpose and vision, and to implementing the UNEP FI strategy for 2022-2025. The work programme is structured around two fundamental pillars: 1) Institutional change, and 2) System change. Pillar 1: Institutional change This pillar aims to foster institutional change and is focused on supporting the adoption and implementation of the Principles for Sustainable Insurance. It is supported by the following actions: 1. Support signatories in implementing the four Principles for Sustainable Insurance 2. Increase engagement with supporting institutions to drive further adoption and implementation of the Principles 3. Intensify delivery of global programme at regional level 4. Develop PSI capacity building offering at regional level 5. Improve governance processes and further empower PSI Board members to become actors of change in the industry 6. Improve transparency and accountability by strengthening processes that track compliance with PSI requirements 7. Implement communications and outreach strategy to improve internal and external knowledge of the PSI and its activities Pillar 2: System change This pillar aims at driving change at the insurance industry level by expanding the knowledge on ESG in insurance as well as developing initiatives that tackle the triple planetary crisis of climate change, nature loss and pollution, as well as social objectives linked to achievement of the SDGs. It is supported by the following actions: 1. Speed and scale up action on climate adaptation, loss and damage, and resilience by deepening the implementation of the V20 Sustainable Insurance Facility that aims to insure MSMEs in V20 countries; by supporting activities that advance adaptation; and by supporting relevant UN frameworks and processes 2. Speed and scale up action on climate mitigation by supporting the forum on net-zero insurance, a UNEP-led and convened multistakeholder platform and structured dialogue to advance net-zero insurance thinking and practices 3. Promote action on nature-positive insurance by establishing a PSI Nature-Positive Insurance Working Group, a global platform to support the development and advancement of nature-positive insurance approaches, frameworks, guidance, tools, methods and standards 4. Develop a paper which defines sustainable insurance business, provides guidance on how to align insurance products, services and portfolios with the SDGs, and explores the opportunity to develop a “Global Sustainable Insurance Taxonomy” 5. Shape the sustainable insurance agenda by developing research and guidance on relevant topics for the insurance industry not specifically covered under the initiatives mentioned above (e.g. human rights, gender equality, use of technology to advance sustainable insurance) 6. Support policy, regulatory and supervisory frameworks that enable sustainable insurance. Objectives: The Consultant will support the Head of Insurance & PSI Programme Leader in the delivery, implementation, promotion, and coordination of the global insurance work programme, including the following main output expectations and performance indicators: Under the pillar, “Institutional change”: A. Support signatories in implementing the four Principles for Sustainable Insurance 1. Improved engagement with existing members at different stages of their membership through additional contact points and clearer guidance on requirements and expectations 2. PSI Checklist to support the implementation of the Principles. This checklist will allow members to assess their current stage of development in terms of ESG integration and identify key actions to advance their sustainability journey B. Increase engagement with supporting institutions to drive further adoption and implementation of the Principles 1. Improved engagement with existing supporting institutions through additional contact points and improved tracking of their actions to support implementation of the Principles C. Intensify delivery of global programme at regional level 1. Africa & Middle East a. Capacity building programme for insurers in the region. This programme will translate global guides, standards and frameworks into the local context b. Quarterly meetings with members to foster engagement and collaboration. These meetings include updates from the UNEP FI Insurance Team and/or PSI Board members, and opportunities for knowledge sharing and peer exchange c. Outreach strategy to increase influence and presence of the PSI in the region and engage with potential members and supporters d. Development of a sustainable finance taxonomy for the region e. Engagement with regulators and policymakers to advance sustainable insurance in the region f. Coordination with the Nairobi Declaration on Sustainable Insurance (NDSI) to support members in their ESG journey and encourage adoption of the Principles g. Growth in the activities of the V20 Sustainable Insurance Facility (V20-SIF) in the region, including developing new proposals and securing funding for their implementation h. Development of specific guidance on sustainable insurance relevant for the region 2. Asia-Pacific a. Semi-annual meetings with members to foster engagement and collaboration. These meetings include updates from the UNEP FI Insurance Team and/or PSI Board members, and opportunities for knowledge sharing and peer exchange b. Semi-annual webinars on topics relevant for the region to support capacity-building efforts c. Outreach to potential new members in the region. Focus countries: China, Japan, Malaysia, Thailand, Singapore, Australia d. Growth in the V20-SIF’s activities in the region, including developing new proposals and securing funding for their implementation 3. Europe a. Semi-annual meetings with members to foster engagement and collaboration. These meetings include updates from the UNEP FI Insurance Team and/or PSI Board member, and opportunities for knowledge sharing and peer exchange b. Contribution to the European Commission’s Climate Resilience Dialogue to strengthen understanding between insurers, policymakers and other stakeholders and close the climate protection gap c. Active participation of members in initiatives under UNEP FI’s insurance work programme (e.g. net-zero insurance, nature-positive insurance) 4. Latin America & the Caribbean a. Semi-annual meetings with members to foster engagement and collaboration. These meetings include updates from the UNEP FI Insurance Team and/or PSI Board members, and opportunities for knowledge sharing and peer exchange b. Semi-annual webinars on topics relevant for the region to support capacity-building efforts c. Adoption and implementation of the Bogota Declaration on Sustainable Insurance (BDSI), a declaration of commitment by Latin American & Caribbean insurance industry leaders to support the achievement of the SDGs in this UN Decade of Action d. Momentum towards key events that will be hosted in Latin America, including CBD COP16 in Colombia and UNFCCC COP 30 in Brazil, and the Hemispheric Insurance Conference of the Inter-American Federation of Insurance Companies (FIDES) in Costa Rica e. Development of a sustainable finance taxonomy and a sustainable insurance roadmap in Brazil f. Growth in the V20-SIF’s activities in the region, including developing new proposals and securing funding for their implementation 5. North America a. Semi-annual meetings with members to foster engagement and collaboration. These meetings include updates from the UNEP FI Insurance Team and/or PSI Board members, and opportunities for knowledge sharing and peer exchange b. Semi-annual webinars on topics relevant for the region to support capacity-building efforts c. Further development of the PSI Canadian Insurance Industry Task Force, a platform for peer exchange and knowledge sharing by members of the Canadian insurance industry d. Promotion of the US National Association of Insurance Commissioners (NAIC) Climate Resilience Strategy for Insurance e. Workshop or series of workshops with PSI members in Bermuda to foster engagement and action f. Global Sustainable Insurance Summit in LA hosted by the California Insurance Commissioner leveraged to raise awareness of sustainable insurance and identify opportunities for engagement in the region D. Develop PSI capacity building offering at the regional level 1. Capacity-building efforts through a programme of global and regional webinars focused on relevant topics for the industry 2. PSI capacity building programme in Africa piloted E. Improve governance processes and further empower PSI Board members to become actors of change in the industry 1. Improved governance processes related to Board culture and practice 2. Improved governance processes related to core functions and impact F. Improve transparency and accountability 1. Members supported on the disclosure process by developing further guidance 2. Compliance with disclosure requirements G. Implement communications and outreach strategy to improve internal and external knowledge of the PSI and relevant insurance activities 1. Member hub developed 2. PSI website updated to make it more purposeful, user-friendly and accurate 3. Global and regional communication channels with members maintained 4. Events for participation and outreach identified and tracked 5. Member value proposition supported and achievements of members promoted 6. Social media presence strengthened 7. Communications plan for each PSI publication developed, including social media, regional and media strategy, as well as leveraging and collaborating with communications teams from participating organisations Under the pillar, “System change”: A. Speed and scale up action on climate adaptation, loss & damage and resilience 1. Deeper implementation of the V20 Sustainable Insurance Facility a. Further expansion of project pipeline b. Activities aimed at securing donor funding for project proposals c. Progress report 2. Adaptation and loss & damage finance a. Meetings and events that aim to address barriers and find solutions to accelerate adaptation and loss & damage finance and at scale supported b. Activities and frameworks that advance adaptation and loss & damage finance (e.g. UNEP Adaptation Gap Report, Global Goal on Adaptation, Loss & Damage Fund) supported B. Speed and scale up action on climate mitigation 1. Activities of the UNEP-led and convened forum on net-zero insurance supported C. Promote action on nature-positive insurance 1. Nature-Positive Insurance Working Group established and priority goals and activities identified D. Define sustainable insurance business and explore the development of a “Global Sustainable Insurance Taxonomy” 1. Briefing paper on how to align insurance portfolios with the SDGs produced E. Deepen sustainable insurance by supporting work on other relevant issues for the insurance industry such as human rights, health and insurtech 1. Knowledge on insurance and social issues advanced a. Continue support for UN University’s work on modern slavery and human trafficking b. Continued support for the work of UNEP FI’s social thematic 2. Knowledge on needs, challenges and opportunities related to data, technology and sustainability in the context of the insurance industry advanced F. Support policy, regulatory and supervisory frameworks that enable sustainable insurance 2. Engagement with the UN-convened Sustainable Insurance Forum (SIF), the global leadership group of insurance supervisors and regulators working together to strengthen understanding and responses to sustainability issues; and other relevant forums and associations at the national, regional and global levels 2. Contribution to UNEP FI’s work on sustainable finance policy Specific tasks and responsibilities: Specifically, the Consultant will support the Head of Insurance & PSI Programme Leader in carrying out the following main duties and responsibilities. In doing so, the Implementation Manager will liaise with the wider PSI/insurance/UNEP FI team, particularly the PSI Programme Coordinator, Insurance Communications Lead, Net-Zero Insurance Project Manager, Net-Zero Insurance Project Coordinator, Nature-Positive Insurance Coordinator, PSI Africa Implementation Officer, V20-SIF Global Coordinator and Regional Coordinators (and other V20-SIF roles in the future), V20 Communications Officer, and insurance team interns. Delivering, implementing, promoting, and coordinating priority work areas in the insurance global work programme and their links and contributions to the UNEP Medium-Term Strategy 2022-2025 and relevant global frameworks, particularly the UN Sustainable Development Goals, Paris Climate Agreement, Sendai Framework for Disaster Risk Reduction, Kunming-Montreal Global Biodiversity Framework, and UN Guiding Principles on Business and Human Rights. Assessing the needs and pain points of PSI members in implementing the Principles for Sustainable Insurance and developing the appropriate implementation support services Growing the PSI global membership by identifying and recruiting PSI signatory companies and supporting institutions across developing and developed countries, assessing their applications, and onboarding them to the PSI. Developing, implementing, promoting, and updating strategies, approaches, commitments, methodologies, metrics and targets relevant to achieving net-zero, nature-positive, inclusive and sustainable underwriting portfolios. Developing, implementing, and promoting climate, disaster risk and inclusive insurance solutions to build the resilience of vulnerable communities, primarily via the V20 Sustainable Insurance Facility and its contributions to the goals of the InsuResilience Global Partnership, Global Shield Against Climate Risks, and UNFCCC Loss & Damage Fund. Providing substantive PSI support for and input to the UN process related to the operationalisation of the UNFCCC Loss & Damage Fund; and UN processes relevant to other key sustainability issues (e.g. nature/biodiversity, oceans, plastics) Contributing to, reviewing and editing PSI publications (e.g. reports, guides, studies, white papers, protocols, technical documents). Coordinating PSI, net-zero insurance, nature-positive insurance and V20-SIF communications across projects and activities, including press releases, global announcements, social media promotion; and updating the PSI, net-zero insurance, nature-positive insurance, V20-SIF and UNEP FI websites. Administering funding and legal agreements, publication processes, human resource/recruitment plans, and travel plans and requests Organising, coordinating, and participating in PSI Board, net-zero insurance, nature-positive insurance, and V20-SIF meetings that will shape and monitor the PSI, net-zero insurance, nature-positive insurance and V20-SIF strategy and work programme Coordinating and preparing for elections of PSI/insurance and UNEP FI governance bodies, and coordinating with such governance bodies on activities supporting the implementation of the insurance global work programme. Organising, communicating and participating in PSI, net-zero insurance, nature-positive insurance, V20-SIF and UNEP FI meetings and events (e.g. all-members meetings, market events, anniversary events, global and regional roundtables, AGMs) and knowledge-sharing webinars on best, current and emerging sustainable insurance thinking and practices. Coordinating and working with UNEP FI thematic leads (e.g. climate change, nature, social issues, positive impact), UNEP FI Risk Centre, UNEP FI regional coordinators (i.e. Africa & Middle East, Asia-Pacific, Europe, Latin America & the Caribbean, North America), net-zero alliances (e.g. Net-Zero Asset Owner Alliance, Net-Zero Banking Alliance, Glasgow Financial Alliance for Net Zero, UN Race to Zero campaign), partners and/or donors (e.g. PCAF, SBTi, V20, MCII, BMZ, Sustainable Insurance Forum) on PSI, net-zero insurance, nature-positive insurance and V20-SIF activities and UNEP FI financial sector-wide activities. The Consultant shall be under the overall supervision of Head of UNEP FI and report directly to Head of Insurance & PSI Programme Leader.
