Underpinning our core mission
Lloyd's responsible business approach underpins our core mission, which is to support global economic growth, enable human progress, and help nations, businesses and communities recover post disaster by paying claims. We want to be known as a responsible business leader, operating in a way that makes those who work for us feel proud of their contribution to what we do and how we do it.
Our programmes focus on four key themes which are integral to Lloyd’s and the wider insurance sector. These are:
- Managing risk
- Building resilient communities
- Empowering individuals to reach their potential
United Nations Global Compact
As part of our journey to become a more responsible business, we have signed up to the United Nations Global Compact to commit to their sustainability principles. As we publish our second United Nations Global Compact report, we aim to reflect Lloyd’s’ ambition to build sustainability and responsibility into all our core activities.
In publishing this report, we hope to demonstrate that this goal is being achieved and we are developing real momentum across a broad spectrum of activities and delivering on our commitments.
This report sets out our achievements in 2020 and our approach for 2021.
These include the Sustainable Markets Initiative (SMI) Insurance Task Force which commits its participants to provide climate positive financing and risk management solutions to support and encourage individuals and businesses around the world to accelerate their transition to a sustainable future.
In 2020, we also published our first Environmental and Social Governance Report, which recognises that we must go wider if we are to tackle the many challenges society faces, such as inequality, poverty, disease and climate change. As part of that Report, we outlined our six priority Sustainable Development Goals which help maintain our focus and ensure we work consistently towards this ambition. Later in the year, we signed HRH The Prince of Wales’ Sustainable Markets Initiative and simultaneously published our Climate Action Paper.
This report represents a continuation of Lloyd’s journey to become a more responsible organisation. Our clear ambition is to continue to build on our progress and commitments as laid out here to benefit our people, our customers and society. Thank you to everyone across the Corporation who contributed to the report and for your commitment to the principles.