Building sustainability literacy: the essential role of employee training

Insurance can and must play a central role in supporting the transition to a low-carbon world – but improving sustainability literacy within the industry is critical if it is to fulfil this role.

This was part of the rationale behind the creation of a new training solution designed to provide a practical understanding of insurance sustainability.

Antony Ireland, founder of the Better Insurance Network, launched the e-learning platform in August in collaboration with a number of major international carriers. The Better Insurance Network also collaborated with the Lloyd’s Market Association (LMA) to launch its ESG Academy, unveiled last month.

“Our mission is to help people who work in insurance understand the central role insurance can and must play in supporting the transition to a low-carbon, more sustainable world, as well as the game-changing threats and opportunities for (re)insurers that come with this transition,” Ireland says.

“Many leading (re)insurers have made net zero and other climate or sustainability-related commitments, and everyone must adapt to an evolving risk landscape and major economic transformation over the next 10 to 20 years.

“To adapt, innovate and futureproof their businesses, employee training will be essential – but until now, there was very little off-the-shelf, insurance-specific education on sustainability available.”

Ireland believes improving literacy is key to equipping and motivating the people tasked with implementing sustainability on the ground.

“But even at companies leading the way on sustainability there can often be a disconnect between what is pledged at the corporate level and what is understood by employees,” he warns.

“Literacy is particularly poor among brokers who, perhaps understandably, have to date been more focused on serving the insurance needs of their clients. Given the important role our industry must play in accelerating the transition, we need to change this quickly. “

Following the launch of the LMA ESG Academy, Ireland is targeting further broadening the reach of the training solution.

“We have ambitious plans and are seeing strong interest from major carriers and global insurance market associations hoping to raise literacy among their members. This is a unique offering for people who work in insurance, so we hope it becomes the industry standard for foundational sustainability training,” he adds.

If your company is a member of the LMA, you can enrol for training via the LMA ESG Academy. Alternatively, visit the Better Insurance Network’s training site to learn more.