Insurance Sector ESG Initiative
The Insurance Council of Zimbabwe (ICZ) has partnered with FSD Africa in a transformative initiative to integrate Environmental, Social, and Governance (ESG) principles into the operations of the insurance sector. This collaboration aims to enhance the sector’s resilience, sustainability, and impact by aligning with global ESG standards and supporting Zimbabwe’s broader developmental goals.
Key Objectives
1
Environmental
Promote climate risk awareness and strengthen insurance products like weather-index insurance that protect MSMEs and smallholder farmers against climate shocks such as drought and floods.
2
Social
Deepen financial inclusion by embedding ESG-aligned insurance within informal and underserved communities, empowering youth, women, and vulnerable groups through access to affordable risk protection and training.
3
Governance
Enhance institutional capacity for ESG compliance, data governance, ethical underwriting, and transparent reporting across insurers and reinsurers.
Strategic Impact
NDS1 Goals
Supports NDS1 goals including financial inclusion and sustainable economic growth.
Green Economy
Positions the insurance sector as a key enabler of Zimbabwe’s green economy transition.
Innovation
Fosters innovation and investment aligned with international ESG financing benchmarks.
Explore the ESG Journery
This ongoing partnership underscores ICZ’s commitment to building a future-ready, inclusive, and sustainable insurance industry.
The Insurance Council of Zimbabwe (ICZ) reaffirmed its commitment to advancing sustainable development by signing the Nairobi Declaration on Sustainable Insurance (NDSI) — a pioneering commitment by African insurance industry leaders to integrate environmental, social, and governance (ESG) principles into core business operations
