ICLEI insurance and cities summit creates “Insurance Development Goals for Cities”

Bonn, 18 May 2017 – The first-ever summit on insurance industry-city collaboration towards a resilient and sustainable urban future concluded with a set of ambitious goals.

The “Insuring Resilient and Sustainable Cities Summit” held on May 5 in Bonn, Germany, was convened by the UN Environment’s Principles for Sustainable Insurance (PSI) Initiative and ICLEI – Local Governments for Sustainability.

The Summit was held as part of ICLEI’s 2017 Resilient Cities Congress, which gathered more than 400 urban leaders and experts from government, business, academia and civil society to address key resilience and sustainability challenges and opportunities in urban environments worldwide. It was supported by the Climate Risk Insurance Initiative, InsuResilience, which was launched in 2015 by the G7 under Germany’s Presidency. The initiative was represented at the Summit by Dr. Astrid Zwick, Head of the InsuResilience Secretariat.

The main outcome of the PSI-ICLEI Summit was the “Bonn Ambition”, which aims to achieve three goals by June 2018, when ICLEI hosts its World Congress in Montréal, Canada. The Bonn Ambition is strategically linked to the 17 UN Sustainable Development Goals (SDGs):

1. Create “Insurance Development Goals for Cities”, which would harness the insurance industry’s triple role as risk managers, risk carriers and investors in the context of the SDGs, focusing on SDG 11—“Make cities inclusive, safe, resilient and sustainable”. The overall target for the Insurance Development Goals is to set the long-term global agenda for the insurance industry and cities.

2. Develop city-level sustainable insurance roadmaps to drive strategic approaches and collaborative action led by insurers and local governments. This could be linked to the Insurance Development Goals for Cities, and would complement ongoing efforts towards developing national sustainable insurance and finance roadmaps.

3. Organize the first-ever roundtable of insurance industry CEOs and city mayors at the 2018 ICLEI World Congress, to accelerate global and local action.

Please find the full press release of ICLEI and PSI here: http://www.unepfi.org/psi/wp-content/uploads/2017/05/Bonn-Ambition-Press-release-final.pdf