The Slovak Insurance Association (SLASPO) presented an initiative in which insurance companies-members of the association adopted a Memorandum on Sustainable Business and its Development, SLASPO said.

The aim of the document is to publicly declare common principles that insurance companies will follow in terms of ​​sustainability, responsible approach to the environment, society and clients.

In the Memorandum, insurance companies undertake to:

• reduce the impact of their operations on the environment
• support energy efficiency and modern standards in accordance with the European Green Deal
• publish sustainability reports and increase transparency
• develop insurance products with respect to sustainability and changing risks
• cooperate with the public, non-governmental and private sectors in meeting climate goals
• support socially responsible and voluntary activities.

The memorandum reflects the principles defined by the European Green Deal, the Paris Agreement and the 2050 Agenda. Insurance companies thus commit to the goal of climate neutrality by 2050 and the need for a fair, inclusive and economically sustainable transition to a low-carbon society, the Association added.