AIICO Insurance Restates Commitment To ESG Adoption, SDGs Achievement

AIICO Insurance Plc., Nigeria’s leading insurance Company, as a good corporate entity, reiterated its commitment to the Environmental, Social and Governance (ESG) adoption towards the achievement of the 17 Sustainable Development Goals (SDGs) by year 2030.

ESG is a framework used to assess various sustainability and ethical issues. While Environmental (E) focuses on a company’s impact on the planet including how businesses manage energy use, waste, pollution, and compliance with environ­mental regulations; Social (S) refers to a company’s relationship with employees, suppliers, customers, and communities in­cluding issues like human rights, diversity, equity, and employee safety.

Governance (G) concerns leadership, executive pay, audits, internal controls, shareholder rights, and strong governance that ensures a company operates ethically and transparently.

On the other hand, SGDs are a set of 17 global goals established by the United Na­tions in 2015, designed to address pressing global challenges by 2030.

These goals cover a wide range of ar­eas, including poverty, inequality, climate change, environmental degradation, peace, and justice. They are part of the UN’s 2030 Agenda for Sustainable Develop­ment and provide a blueprint for achieving a better and more sustainable future for all.

In her presentation recently at a one-day training workshop organised by the underwriting Company for members of the Nigerian Association of Insurance and Pension Editors (NAIPE), in Lagos, Mrs. Abimbola Shobanjo, Head, Corporate Re­sponsibility, and Sustainability, highlight­ed the Company’s commitment to ESG and contribution to SDGs.

She said AIICO has introduced Cli­mate-smart initiatives, Green office prac­tices and sustainable resource manage­ment e.g. calculating baseline emissions, reducing paper consumption as well as adopting hybrid work arrangements aimed at protecting the environment.

On the Social side, she said Company is ensuringdiversityandinclusionfocus, tak­ing into consideration employee engage­ment, and gender diversity, and fostering a supportive work culture.

She hinted at the Company’s upcoming employee engagement survey to include a diversity and Inclusion section, com­munity programmes and outreach (CSR initiatives like health, education, financial inclusion).

On Governance, she reiterated the firm’s commitment to ethical business practices and transparency, strong lead­ership and internal governance frame­works with regular audits and compliance checks, complying with local and global regulations.

She said the insurer is contributing to SDGs through its various initiatives name­ly: Pink by AIICO, ActionAid Nigeria, AIICO Revive, AIICO Blood Drive, World Malaria Day, Health & Safety at AIICO, Global Money Week, Girls in Tech, Aca­demic Support, School Children Outreach Programmes.

Others are AIICO Graduate Trainee Programme, Diversity & Inclusion, In­ternational Women’s Day, Tree Planting, Agric Support, AIICO Farming Club, Work from Home (WFH), and Centralised Printing.

The Company’s upcoming pro­grammes, according to her include strengthening environmental pro­grammes (More climate action – GHG emission calculations, waste reduction – process digitalization, recycling); Ex­panding social impact programmess (Community outreach, employee well-be­ing); Enhancing corporate governance (More training for leadership, continuous assessment and improvement on inter­nal controls) and ESG Integration (ESG integration into business operations – ISO 26000 SRMS).