Adam Winslow, CEO of Aviva UK & Ireland General Insurance, has commended the headway made by many UK brokers in their efforts to bring forward-facing Net Zero aspirations to life. Aviva’s annual Broker Barometer research has found that over a quarter of brokers are implementing Net Zero plans, indicating a positive shift towards Environmental, Social, and Governance (ESG) considerations. 

However, whilst the research highlighted that 61% of brokers are considering ESG factors when making investment decisions, it also found that only 13% have a formal ESG policy in place, indicating the real need for continued education and awareness around ESG considerations within the insurance industry in the UK, and beyond.

Aviva’s findings come after the British Insurance Brokers’ Association made a recent and explicit push for its members – as well as the wider industry – to be more environmentally conscious. This development is encouraging, as the insurance industry has a significant role to play in promoting sustainable practices and mitigating climate change. 

Of late, the UK insurance industry has made significant progress in response to current issues around ESG investing. The sector has been developing strategies to align with the United Nations Principles for Sustainable Insurance and, according to the EY Sustainable Finance Index, the UK insurance market leads global competitors on governance structures. We look forward to seeing the results of Aviva's next Broker Barometer research and hope to see a continued uptick on the actions taken by UK brokers to integrate ESG considerations into their business practices.