ICICI Prudential Life Insurance Company has released its first ESG Report for FY2020. The organization firmly believes in ensuring long-term sustainability by undertaking holistic and proactive action. The last two years have been landmark years for ICICI Prudential for their strategic transformation, business aspirations, and value creation for shareholders.
The report is built using the three pillars of sustainability: Environment-Conscious use, re-use and regeneration of our resources, Social – Empathy, and inclusion for all stakeholders, and Governance – Transparency and trust to provide equal development opportunities for everyone.
As the business model is intertwined with the sustainability objectives, ICICI Prudential have now holistically documented objectives and approach on the aspects of the ESG framework i.e. Environmental, Social and Governance making ICICI Prudential Life Insurance the first life insurance company in the country to document ESG.
As a Company, ICICI Prudential Life Insurance is in the business of life insurance which is a unique financial planning tool that provides families with a financial safety-net by enabling them to achieve their long term financial goals and protection of their families in the event of specific exigencies. Life insurance is a key social need in India in the context of the current social security framework for our citizens. The company’s endeavor is to ensure that every Indian family has adequate financial protection whilst taking into account our wider responsibilities to the society and the environment.
ICICI Prudential Life Insurance’s ESG Report highlights below mentioned:
- Waste Management and Reduction
- Water Management
- Customer Centricity
- Employee Diversity and Management
- Inclusive Growth
As our business model is intertwined with the sustainability objectives, we have now holistically documented our objectives and approach on the aspects of the ESG framework i.e. Environmental, Social and Governance, the report said.
Our ESG framework is based on our Company’s vision which is to build an enduring institution that serves the protection and long term saving needs of customers with sensitivity, the report added.
Our Executive Committee comprising the senior leaders of the Company oversee the integration of ESG within the organizational framework and undertakes initiatives to balance the growth and profitability objectives whilst serving the welfare of society and the preservation of the planet and thereby ensuring sustainability, the company said.
To receive e-copy of the report please click here.