Insurance Agreement addresses companies where abuse occurs
The insurance sector, social organisations, the trade unions and the Dutch government are working together to prevent and tackle problems such as human rights violations, environmental damage and animal suffering. The Dutch Insurance Sector Agreement on International Responsible Investment (IMVO Convenant Verzekeringssector) was signed today by the Dutch Association of Insurers, also on behalf of a.s.r.
The Dutch insurance sector invests around € 500 billion in companies and governments worldwide and can thus exert influence. The agreement on international responsible business conduct (IMVO) goes beyond the Sustainable Investment Code of the Dutch Association of Insurers of 2012, with a broader scope and higher level of ambition. Through this cooperation, the parties hope to gain more insight and to achieve a positive impact on the environment, social conditions and corporate governance. The arrangements laid down in the Agreement are based on the OECD guidelines for multinational organisations and the UN Guiding Principles for Business and Human Rights. In addition, the parties will launch joint projects on a specific theme, starting with climate change and energy transition. They also call each other to account for achieving the objectives of the agreement.
In addition to the Dutch Association of Insurers and the Association of Dutch Health Insurers, the FNV, Natuur & Milieu, World Animal Protection, Amnesty International Nederland, PAX, Oxfam Novib and Save the Children Nederland will sign the agreement. On behalf of the central government, Minister Hoekstra of Finance and Minister Kaag for Foreign Trade and Development Cooperation will sign the agreement. The Social and Economic Council will facilitate the agreement and compliance with the arrangements.