Our sustainability strategy is also aligned with seven United Nations Sustainable Development Goals (UN SDGs), giving added purpose to what we do at Income Insurance.
At Income Insurance, we believe sustainability practices build resilience, which is the capacity to withstand or recover quickly from difficulties. This is because sustainable practices build resilience by managing risks, opportunities and resources in a way that protects and grows organisations and communities.
In this same way, our three sustainability pillars build our collective resilience as we embed environmental, social and governance (ESG) considerations into the core of how we operate our business. The three pillars are ‘Action for Environment’, ‘Operate a Responsible Business’ and ‘Build Stronger Communities’ and together, they underpin our sustainability strategy.
Our Purpose and Sustainability Strategy
Our purpose is to offer financial protection that leaves no one behind. It continues to honour the very spirit of our organisation, which was set up five decades ago to plug a social gap by making essential insurance available to every Singaporeans.
Our sustainability strategy is centred on this purpose. For each pillar, we have identified material actions that will allow us to build our collective resilience in the year ahead.
With this framework, we also set priorities and targets that will allow us to create sustainable value and operate in the best interest of the company and our stakeholders.
Our Approach
We create long-term value for all stakeholders and deliver on or sustainability strategy by embedding sustainability in the way we act and operate through our products, services, and people.
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Stakeholder engagement
We believe in working proactively and in partnership with others to achieve our sustainability ambitions and contribute positively to society. Through regular stakeholder engagement, we identify actions and priorities that are material in responding to sustainability and create value for our stakeholders.
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Materiality
We focus our effort and resources on sustainability issues that matter most to our stakeholders and prioritise actions that align to their expectations and our business performance.
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Sustainability governance
We recognise that to have the greatest impact, sustainability needs to be embedded enterprise-wide. Sustainability is embedded in our organisation at the highest governance level. The oversight of our sustainability commitments and actions are integrated into the responsibilities of existing Board-level committees, our Executive Committee.
Income Insurance Sustainability Report 2022
The report provides more information on our sustainability efforts and performance relating to each of our key sustainability pillars.
