Page 11 - Turkinsurance Digital Magazine
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Environmental and social risks should
also be focused on when designing
products
EY Turkey Tax Department EY's Sustainable Finance for the insur- they have adopted in this regard.
Financial Services Sector ance CFO report has been released. Can
you give us a brief information about From this point of view, sustainable fi-
Associate Company Partner the report? nance issues are coming to the forefront
of the insurance companies' CFO's agenda
Melike Kılınç: “Today, Awareness of institutions in the field of much faster than they had anticipated. As
you can see that insurance ESG and sustainability in the world and in EY, we have prepared our report called
companies have reserved our country is increasing every day. ’Sustainable Finance for Insurance Com-
pany's CFOs' based on this.
special areas on their The insurance sector is also increasingly
websites that detail their facing environmental, social and corpo- In this report, it is emphasized that the im-
rate governance (ESG)-oriented demands portance of the roles of finance managers
approach to sustainability from investors, regulators and the wider in achieving the environmental, social and
and the basic principles community today. These demands, in par- corporate governance goals of companies
ticular, focus on better emphasizing the is increasing every day, and how insurance
they have adopted in this value they provide to society, using their companies can ensure that they achieve
regard.” influence to promote a more sustainable their strategic sustainable finance goals is
world, adopting a business model that highlighted. For this, the priorities of the
generates long-term value. As a result, finance teams, climate reporting that has
sustainability strategies that foresee not turned from a voluntary basis to a necessi-
only financial risks but also environmen- ty, ESG reporting standards, the roadmap
tal, social and social risks and that can that insurance company CFOs can follow
contribute to the management of these in ESG reporting, the difficulties that may
risks take their place among the business be encountered in reporting and the roles
strategies of companies in the insurance that finance teams will play in integrating
sector, whose focus is currently on risk sustainability into existing business pro-
management. Insurance companies make cesses are included.
their strategies on ESG and sustainabili-
ty more visible and share them with their Can you provide information for our
stakeholders on various platforms. For ex- readers about the outstanding and
ample, today, you can see that insurance striking results of the report?
companies have reserved special areas on
their websites that detail their approach It is possible to summarize the outstand-
to sustainability and the basic principles ing findings of the report as follows:
