Marsh’s new ESG tool to help improve critical sustainability & climate-related risks
Global insurance broker Marsh has launched an environmental, social, and governance (ESG) risk rating tool that measures an organisation’s ESG performance against more than 10 internationally recognised standards and frameworks.
The tool enables organisations to identify their most critical sustainability and climate-related risks and opportunities to further develop their ESG strategies, and gain access to additional insurance market capacity.
As part of the offering, Liberty Mutual Insurance will provide its clients with Marsh’s ESG-related risk advisory services in the US and Canada.
“Embedding ESG is increasingly a source of competitive advantage to the organizations that do it well,” said Amy Barnes (pictured), head of climate and sustainability strategy, Marsh. “With the ESG Risk Rating, we are providing our clients with a clear framework from which to better understand their ESG performance, make more informed investment decisions, and realize better risk management outcomes.”
“ Marsh firmly believes that insurers should recognise organisations with strong ESG frameworks as better risks. Liberty Mutual’s risk advisory benefit is a positive step forward on this journey; we look forward to working with other parts of the insurance market on this important initiative.”
Tracy Ryan, president of North America Global Risk Solutions at Liberty Mutual Insurance, added: “We are excited to collaborate with Marsh on this important initiative to help firms improve their understanding of their ESG risks. Our risk advisory offer is in mutual recognition of the importance of ESG and Liberty’s commitment to help clients advance their sustainability journeys.”
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