• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Group Charges African Insurers On ESG Adoption

by Zaka Khaliq
3 years ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

ICEA LION Group has charged insurance regulators and operators in Africa to adopt Environmental-Social-Governance (ESG) to drive sustainable growth of the market on the continent.

Speaking at the recent 2022 Insurance Directors’ conference held at the College of Insurance and Financial Management (CIFM) in Lagos, Nigeria with the theme: ‘Transforming the Insurance Industry through ESG Principles: Directors’ Roles,’ the chief executive officer(CEO) of ICEA LION Holdings, Mr. Philip Lopokoiyit, said the key substance of the Nairobi Declaration on Sustainable Insurance was a declaration of commitment by African insurance industry leaders to support the achievement of the UN Sustainable Development Goals (SDGs).

He emphasised that the declaration is “an Africa-focused initiative designed to encourage and support African insurance market players.”

He further added that, “it is a convening tool that signals their willingness to develop ESG principles and solutions within their businesses as insurance players become change agents in light of the biggest challenge facing humanity.”

RELATED

Ogun Gov’t Warns Violators, Vows To Enforce Anti-Open Grazing Law

Ogun Gov’t Warns Violators, Vows To Enforce Anti-Open Grazing Law

41 minutes ago
Developmental Projects: Southern Kaduna Appointees Applaud Governor Sani

Kaduna Gov Sacks Info Commissioner, Names Maiyaki As Replacement

52 minutes ago

The declaration, according to him, is important because, while the UN Sustainable Development Goals (SDGs) are gaining momentum, progress to meet these SDGs from a financial services perspective was not yet at the speed or scale required.

Lopokoiyit added that, the ICEA LION Group went to COP 27 in Sharm El-Sheikh-Egypt 2022 as a founding signatory to the  Nairobi Declaration on Sustainable Insurance (NDSI).

The group co-hosted a  Climate Adaptation event together with UNFCCC, FSD Africa and Namib Re as representatives of the NDSI on 9th November 2022.

At this event, the signatories announced the launch of the Africa Climate Risk Facility.

According to the ICEA LION Holdings CEO, the signatories made a commitment to insure cumulatively more than 1.4 billion people by 2030 as well as provide $14 billion insurance capacity for flood, drought & cyclones in Africa.

He spoke on the $900 million multi-donor-trust fund  facility, which when fully set up and resources mobilized, will be available for NDSI signatories.

The facility is expected to drive premium subsidies, product development and capacity building. According to the executive, other significant milestones for the continent at COP 27 included; the launch of the Africa Carbon Markets Initiative as well as the decision by developed countries to establish a loss and damage fund.

In terms of challenges of enthroning the ESG model in Africa, Philip identified six major roadblocks as heavy carbon-driven economies, few African voices on the issue, considerable lack of knowledge & awareness, uneven playing field for early-adopters of ESG,  short-term planning models and lack of green finance instruments to quickly facilitate adoption of ESG principles.

It is imperative to emphasise that the ESG model suggested by the executive reflected prominently in the 16-point communique released by the event organisers, underlining the importance and strength of the Group’s participation at the event.

The ESG principles canvassed by the CEO of ICEA LION Holdings that got a buy-in in the final communique include: that insurance can serve as a veritable tool to solve sustainable challenges such as: Pollution, Poverty, Social Inequality, Biodiversity, Climate change, among others; that the Nairobi Declaration on sustainable Insurance should be given serious consideration by the Nigerian insurance industry and that the outcomes of COP 27 can facilitate Nigerian market expansion, among others.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

We Have Succeeded In Reducing Crime In Lagos – Taskforce Boss

Next Post

Sovereign Trust Assures Policyholders Of Seamless Services

Zaka Khaliq

Zaka Khaliq

You May Like

Ogun Gov’t Warns Violators, Vows To Enforce Anti-Open Grazing Law
News

Ogun Gov’t Warns Violators, Vows To Enforce Anti-Open Grazing Law

2025/07/29
Developmental Projects: Southern Kaduna Appointees Applaud Governor Sani
News

Kaduna Gov Sacks Info Commissioner, Names Maiyaki As Replacement

2025/07/29
ASUU Awards Scholarships To 7 ATBU Indigent Students
News

ASUU Awards Scholarships To 7 ATBU Indigent Students

2025/07/29
NiDCOM Boss Calls For Calm Over Ghanaians’ Protest Against Nigerians
News

NiDCOM Boss Calls For Calm Over Ghanaians’ Protest Against Nigerians

2025/07/29
PINL Vows To Curb Pipeline Vandalism
News

Group Kicks Over Inclusion Of Urhobo Land In Tantita Pipeline Surveillance Contract

2025/07/29
Stray Elephant Kills Middle-aged Farmer In Ogun
News

Stray Elephant Kills Middle-aged Farmer In Ogun

2025/07/29
Leadership Conference advertisement

LATEST

Ogun Gov’t Warns Violators, Vows To Enforce Anti-Open Grazing Law

Kaduna Gov Sacks Info Commissioner, Names Maiyaki As Replacement

ASUU Awards Scholarships To 7 ATBU Indigent Students

NiDCOM Boss Calls For Calm Over Ghanaians’ Protest Against Nigerians

Group Kicks Over Inclusion Of Urhobo Land In Tantita Pipeline Surveillance Contract

Stray Elephant Kills Middle-aged Farmer In Ogun

Dangote Refinery Withdraws ₦100bn Lawsuit Against NMDPRA, NNPC, Oil Marketers

Tinubu Listens, Adjusts, Responds To Nigerians On Reforms, Says VP Shettima

WAFCON: Morocco Petitions CAF Over Super Falcons’ Victory

Gov Lawal Appoints Abdulkadir Bello As New Emir Of Gusau

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.