Thirty Months On: Assessing Progress and Prospects of the Nairobi Declaration for Sustainable Insurance

Organised by NDSI and its partners this event aims to disentangle out key ambiguities in the contemporary debate and demonstrate that multiple paths to integrating ESG into core business may exist. The objective are to;

1. Explore the capabilities and challenges of the African insurance industry in addressing ESG risks. Highlight specific operational needs hindering local agents and emphasize the commitment to providing $14 billion of climate risk insurance as part of the COP27 2030 initiative.
2. Examine how de-risking and effective risk pooling can integrate ESG-positive activities into core business, even in a less mature and fragmented insurance industry. Identify key areas along value chains to support ESG, especially climate resilience, and explore mechanisms for providing capital to vulnerable communities.
3. Assess insurers’ ability to frame ESG as both a risk and opportunity internally. Explore consumer demand for specific products, ways to generate that demand, and the role of the public sector in creating commercial incentives aligned with social benefits.
4. Reflect on the NDSI’s role, define success for the organization, and discuss the need for a unified ‘African Voice’ on ESG. Encourage diverse voices to contribute, fostering partnerships to unlock more derisking capital.

Date & Time: December 3, 2023; 8:30 am – 9:30am GST

Venue: CARICOM Pavilion