Santam ClimateWise progress report
The Santam Group has been a proud member of ClimateWise since 2009, and as South Africa’s leading short-term insurer, was the first African insurer to mobilise the industry in response to increasing climate and weather risks.
We recognise that climate change poses serious risks to the stability and quality of human society, and the global economy. The consequences of global warming are already evident in more extreme weather events as highlighted in the Intergovernmental Panel on Climate Change (IPCC) special report released in October 2018. Through our membership, we are committed to demonstrate our leadership in the SA short-term insurance sector by incorporating the newly updated seven ClimateWise principles in our business and decision-making. This is demonstrated in our annual Integrated Report and our public Climate Change Positioning Statement.
We further acknowledge that Santam has a responsibility to respond to climate change and remain committed to finding ways for our actions, products and solutions to reduce the risks that climate change poses for our industry, our business and society at large.
In this vein we annually report to ClimateWise on the incorporation of their seven principles in our business and decision-making, which is evident in our annual integrated report, and particularly in our Climate Change Positioning Statement. These principles have been reviewed and updated to include the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
We are pleased to present a summary of the progress report listing our actions over the year 1 January to 31 December 2018 against the ClimateWise principles
Our approach to climate change
Incorporate climate related issues into our strategies and investment
Lead in the identification, understanding and management of climate risk
Reduce the environmental impact of our business
Inform public policy making
Support climate awareness amongst our customers/clients