Environmental, Social and Governance issues at the forefront of our sustainability strategy
The world around us is changing we are about to face great challenges among others climate change, human rights policies, labor rights, accessibility. At American Hellenic Hull Insurance Company (AHHIC) we believe in being proactive to achieve a more sustainable future. This is particularly important in our sector, given the essential role of insurance in the maritime adventure.
In order to implement sustainability strategies and pioneer in new business models that embrace ESG risks, we need to invest in partnerships towards this direction. Therefore, we are proud to have entered into the United Nations family through our co-operation with United Nations Environment Programme Finance Initiative, Principles for Sustainable Insurance and Sustainable Blue Economy Finance Initiative, whilst we are members of the United Nations Global Compact initiative. Furthermore, we have invested in education via our institutional co-operation with World Maritime University, founded by International Maritime Organization.
United Nations Environment Programme Finance initiative, Principles for Sustainable Insurance (UNEPFI PSI)
Endorsed by UN Secretary – General and insurance industry CEOs, the Principles for Sustainable Insurance (PSI) serve as a global framework for the insurance industry to address ESG risks and opportunities – and a global initiative to strengthen the insurance industry’s contribution as risk managers, insurers and investors to building resilient, inclusive and sustainable communities and economies.
AHHIC is the exclusive marine insurance company to sign the United Nations agenda and support the United Nations Environment Programme Finance Initiative, Principles for Sustainable Insurance (UNEPFI PSI). Therefore, we are committed to support the Principles, aiming to incorporate the social, environmental and business emerging issues into our sustainable and holistic approach, while working together with the insurance industry and the United Nations.
Furthermore, AHHIC is the sole marine insurance company, among world’s insurers and institutions, participating in the development of the first global guide, which provides the framework for the insurance industry to manage Environmental, Social and Governance issues.
World maritime University (WMU)
In 2019, AHHIC entered into a unique Memorandum of Understanding with the World Maritime University to cooperate in the field of marine insurance. Under the MoU, both sides recognize their mutual interest in the field of maritime and oceans, and the development and protection of the marine environment. A marine insurance post graduate diploma, professional development courses, and marine insurance related events are among the aspects for cooperation between the WMU and AHHIC.
Sustainable Blue Economy Finance Initiative
American Hellenic Hull embraces all initiatives undertaken towards adopting and implementing ESG strategies, not least among others those deriving from United Nations Environment Program Finance Initiative. Therefore, AHHIC is the exclusive marine insurance company to support the Sustainable Blue Economy Finance Initiative. Sustainable Blue Economy Finance initiative, provides the framework within which Financial institutions, Investment and Insurance Companies will address collaborative actions, will adopt Blue Economy’s principles and endorse ESG issues in the international shipping community.
United Nations Global Compact
We align with the 2030 United Nations Agenda, as we believe that the SDGs are the blueprint to achieve a better and more sustainable future for all. For this reason, we have joined the United Nations Global Compact community adopting the SDG Action Manager. The SDG Action Manager is a tool that helps organisations assess their impact relative to the various SDGs and to help them improve.