Principles for Sustainable Insurance (PSI)
Voluntary framework launched by UNEP in 2012 to embed environmental, social and governance issues into insurance business.
The Principles for Sustainable Insurance form a voluntary framework launched in 2012 by the United Nations Environment Programme Finance Initiative. They set out four commitments: embedding ESG issues into decision-making, working with clients and partners to manage these risks, collaborating with governments and regulators, and reporting publicly on progress. The framework provides the conceptual basis on which more demanding initiatives such as the Net Zero Insurance Alliance were built. Its scope remains declarative and unenforceable, making it a soft law instrument rather than a prudential standard. For an underwriter, an insurer's adherence to the PSI signals strategic intent but does not guarantee a verifiable alignment trajectory, which is why it matters to distinguish surface commitment from credible transition plans.
Launched by UNEP FI in June 2012, at the Rio+20 conference, the PSI framework inspired the sustainability reporting that major reinsurers such as SCOR and Swiss Re now publish alongside their prudential accounts.
PSI, Principles for Sustainable Insurance, UNEP FI PSI
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