Environment, social and governance

Environmental, social and governance (ESG) issues are a growing part of TT Club’s risk profile. The world’s changing climate and global demands for a kinder, fairer and more transparent society now need to be factored into everything we do.

Effective management of ESG issues will help to ensure our long-term resilience. This in turn will enable us to fulfil our overarching purpose, which is to make the international transport industry safer, more secure and, as a result, more sustainable.

We measure our ESG performance in line with the accounting metrics in the globally established Sustainability Accounting Standards Board (SASB) insurance standard, which is now managed by the IFRS Foundation’s International Sustainability Standards Board.

Find out more about our approach to managing environmental, social and governance risks below.

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Sustainable insurance

Since 2022 the Club has been a signatory to the United Nations (UN) Principles for Sustainable Insurance. These commit us to:

  • embed ESG considerations in all our decision making
  • work with Members to raise awareness of ESG risks and develop solutions
  • work with authorities to promote action across society on ESG issues
  • clearly show our progress in implementing these commitments.

As a sustainable insurer, we aim to reduce risk, develop innovative solutions, improve business performance and contribute to environmental, social and economic sustainability.

Our Board also requires our investment managers at Thomas Miller to be signatories to the UN Principles for Responsible Investment, to embed ESG research in their investment processes, and to report regularly on the ESG profile of our investments. We have set minimum ESG ratings for our corporate bond and equity fund holdings, as assessed by independent agencies such as MSCI and S&P.