[논문]ESG-driven approach to managing insurance companies’ sustainable development

Khovrak, Inna

doi:10.21511/ins.11(1).2020.05

ESG-driven approach to managing insurance companies’ sustainable development
ESG-driven approach to managing insurance companies’ sustainable development 원문보기

Insurance markets and companies : analyses and actuarial computations, v.11 no.1, 2020년, pp.42 - 52

Khovrak, Inna (Doctor of Economics, Associate Professor, Accounting and Finance Department, Kremenchuk Mykhailo Ostrohradskyi National University)

Abstract ▼ AI-Helper

Environmental, social and governance criteria (ESG) are considered to be the main factors in measuring the sustainability and ethical impact of companies. This article focuses on comparing the ability of insurance companies to use an ESG-driven approach to managing their sustainable development. The study is conducted using comparative analysis, statistical analysis, and a case study method. The study compares six ESG Ratings on four main criteria (dependent variables, independent variables, scale type, sample), that allows choosing the most appropriate rating for the analysis of insurance companies. As a result, 156 insurance companies are compared by the level of ESG risk (low ESG risk - 24 companies, medium ESG risk - 111 companies, high ESG risk - 21 companies) and by geographical affiliation (26 countries) using descriptive statistics. The assessment of effectiveness of the ESG-driven approach to managing sustainable development of insurance companies is carried out on the example of 16 companies by comparing their non-financial reporting (the sample is selected based on of the annual report for 2019-2020). The study identifies the most common guidelines for report development, as well as components of the ESG-driven approach: environmental (waste and pollution, climate change, energy efficiency), social (workforce and diversity, customer engagement, communities), governance (code and values, reporting, risk management). The study systematizes the best practices of insurance companies for applying the ESG-driven approach to manage their sustainable development and highlights the need for insurance companies to improve their reporting and disclosure practices related to the development of the ESG-driven approach. AcknowledgmentComments from the Editor and anonymous referees have been gratefully acknowledged.

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ESG-driven approach to managing insurance companies’ sustainable development
ESG-driven approach to managing insurance companies’ sustainable development 원문보기

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연합인증

ESG-driven approach to managing insurance companies’ sustainable development ESG-driven approach to managing insurance companies’ sustainable development 원문보기

Abstract ▼ AI-Helper

참고문헌 (36)

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ESG-driven approach to managing insurance companies’ sustainable development
ESG-driven approach to managing insurance companies’ sustainable development 원문보기