The Horizon East Africa (2019) research report authored by Msingi, Kenya Markets Trust and Gatsby Africa focused closer home and painted a bleak picture for East Africa. The research further predicts that the number of climate refugees in East Africa will rise from about 1.8 million in 2020 to between 6.9 million and 10 million by 2050. Beyond the doom and gloom, the good news is that the launch of “Principles of Sustainable Insurance” (PSI) in 2012 ignited the call to innovate and collaborate for a sustainable world. The four Principles for Sustainable Insurance, including a list of possible actions, provide a common aspiration and global framework for the insurance industry to manage ESG issues, and to strengthen its contribution to building resilient, inclusive and sustainable communities and economies. To date, more than 100 insurance Companies worldwide have signed up to the United Nations Environmental Programme Finance Initiative Principles of Sustainable Insurance.

Source: The Star June 17, 2020 00:56 UTC