Marsh and Liberty Mutual roll out ESG risk services

Marsh has launched its Environmental, Social, and Governance (ESG) Risk Rating, an assessment tool that it claims can measure an organisation’s ESG performance.

According to Marsh, the new toll will enable clients to improve their ESG risks, and gain access to additional insurance market capacity.

As part of the offering, Liberty Mutual Insurance will offer its clients in the US and Canada who opt-in to Marsh’s ESG Risk Rating complimentary access to risk advisory services relating to sustainability and climate-related risks and opportunities.

Measured against more than 10 internationally recognized standards and frameworks published by leading organizations – including the Global Reporting Initiative, Sustainability Accounting Standards Board, Task Force on Climate-related Financial Disclosures, and the World Economic Forum – the ESG Risk Rating scores a client’s performance across 18 ESG themes.

On completion of the free assessment, the organization receives an overall ESG risk score, as well as a rating for each ESG component.

Clients will use the results to identify their most critical sustainability and climate-related risks and opportunities to further develop their ESG strategies.

Marsh added that, as organisations are increasingly being asked to provide ESG metrics as part of the procurement process, the rating can be shared with the organization’s external stakeholders.

“Embedding ESG is increasingly a source of competitive advantage to the organizations that do it well,” said Amy Barnes, head of Climate and Sustainability Strategy, Marsh. “With the ESG Risk Rating, we are providing our clients with a clear framework from which to better understand their ESG performance, make more informed investment decisions, and realize better risk management outcomes.”

“Marsh firmly believes that insurers should recognize organizations with strong ESG frameworks as better risks. Liberty Mutual’s risk advisory benefit is a positive step forward on this journey; we look forward to working with other parts of the insurance market on this important initiative.”

Tracy Ryan, president of North America Global Risk Solutions at Liberty Mutual Insurance, added: “We are excited to collaborate with Marsh on this important initiative to help firms improve their understanding of their ESG risks. Our risk advisory offer is in mutual recognition of the importance of ESG and Liberty’s commitment to help clients advance their sustainability journeys.”

Follow us on twitter: @risksEmerging

Rise of Remote Work to Define Future of City of London

SiriusPoint Chairman and CEO Sankaran Resigns

Should a female elephant have some of the same legal rights as humans?

That is the question New York state's top court will consider, the latest development in a years-long push by an animal rights group to free Happy the Elephant from the Bronx Zoo 1/5

Charles and Camilla visit Canada on royal tour to mark Platinum Jubilee

Property casualty insurance advocates are in D.C. sharing how our industry empowers consumers to protect what matters most. Help amplify our efforts by sending a message to your representatives about our policy priorities! #DCLAD22 #InsuringWhatMattersMost

🔲 Dominate the ball, always looking for space
🔲 Ball-playing centre-halves that drive forward
🔲 Carvalho dominated left half-space
🔲 Creative & effective set pieces
🔲 Scored 50+ at home & away

@peterrutzler & @johnspacemuller analyse how and why #FFC stood out this season.

Hindu groups file fresh petitions to stop Muslims from entering historic Indian mosque

On the latest episode of Tug of War, @NicRobertsonCNN explains how Russia's invasion of Ukraine convinced Finland to plan on joining NATO - after decades of neutrality.

Listen here.

Load More...