The Chartered Insurance Institute has published a new guide to help small and medium-sized brokers develop and incorporate ESG strategies.
Research for the guide was carried out by the 2022/23 CII Broking Community New Generation group, which sought to understand how ESG strategies are being implemented and how they may be adopted by other SME brokers to strengthen their sustainability, accountability and performance.
Results from the group’s research showed the majority of larger brokers already have an individual or committee within their organisation that is responsible for considering ESG, while this was not the case for SMEs.
The understanding of ESG targets was found to be inconsistent across the workforce, with both larger firms and more senior staff significantly more likely to have a meaningful understanding of their firms’ targets than those in entry or intermediate level roles or at SME brokerages.
Some 25% of entry level employees felt confident of their understanding of ESG targets, whilst over a third of those surveyed had no understanding. Only 32% of those at small brokers understood the ESG targets at their firm.
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