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Overview
What is Sustainability? Why should businesses care? How are businesses responding? How is the insurance industry affected by sustainability issues? What role does the insurance industry play?
What is Sustainability?
The capacity to maintain a certain process or state indefinitely Development which meets the needs of the present without compromising the ability of future generations to meet their own needs
This linear system must be changed to one that is cyclical, and more efficient at every point
U.S. Environmental Protection Agency Undated document downloaded October 22, 2002
WorldPopulationYear18002100
2011
WorldEnergyDemandByFuelSource
Source:HWWI,ifo,IfW,December2007(f: forecast
Source: zfacts.com
http://www.sociologyonline.net/c6b739g.htm
Quiz: What is Sustainability? How do these trends affect sustainability The capacity to maintain a certain process or state indefinitely Development which meets the needs of the present without compromising the ability of future generations to meet their own needs We are using resources at a rate that places future generations in peril
As economy turned south so did investment in sustainability funds but investors returning now
Recycled Materials
Change Distribution
Change Packaging
Construction Industry
Construction in the US is responsible for:
39% of total energy use includes 65% of electricity 39% of municipal solid waste 35% of greenhouse gas 40% of all raw materials which include
25% of timber harvest 12% of potable water usage
GREEN Construction
Whole-building sustainability in key areas of human and environmental health - sustainable site development - water savings - energy efficiency - materials selection - indoor environmental quality
Can benefit from being a green company Has opportunities for new products Loss prevention, insurance products, claims management, services promoting public awareness
NATURAL DISASTERS IN THE UNITED STATES, 19802011 (Number of events, Annual totals 19802010 vs. first six months 2011)
Wejudgeglobalclimatechangewill
IncreasedAgriculturalRiskin DevelopingNations
InsurersNeedtoIdentify,Map,andMitigateRisks
GREEN CONSTRUCTION
Green Features affecting Insurance
Vegetative Roof Systems Alternative Energy Systems
Solar, Wind Bio mass, Bio gas Geo thermal
Green Roofing
Katie School Student and Faculty Project: (Developing Crop Insurance in Ghana)
Received ILO Grant to Study Potential of Developing Insurance for Crops in Ghana Katie School gathered and analyzed via actuarial students assisted by Ag. Business and actuarial, and COB faculty in developing crop insurance product in Ghana
Business&SustainabilityMinor: Milestones&Evaluation
Phase1 Phase2 SeekEmployer SupportandFeedback EvaluateMinorand submitrevisedMinor Reviseenrollmentand admissionsreqs. Developwhitepapers, research,and workshopssupporting minor Basedonsoft moneyevaluate potentialforstudent scholarshipsandfaculty grants Phase3
EvaluateMinor Reviseenrollment ConsiderMajorinB&S Addnewcourses WorkwithCorporate sponsors EstablishB&SStudent Organization ConsiderViabilityofB.E. &SInstituteatISU
Contact Information
Jim Jones, CPCU, ARM, AIC, AIS
James.jones@ilstu.edu
Sustainability Blog
www.Sustainabilityriskmanagement.blogspot.com
Microinsurance Blog
www.illinoisjones.blogspot.com
Exposuresintheriskfield
Physical Environment Economic Environment Social Environment Political Environment Legal Environment Operational Environment Cognitive Environment PhysicalAsset Exposures
FinancialAsset Exposures
HumanAsset Exposures
LegalLiability Exposures
RiskField
MoralLiability Exposures
Insuring livestock
http://www.treasury.gov.za/public%20comments/The%20Future%20of%20Microinsurance%20Regulation%20in%20South%20Africa.pdf
Insuring breadwinner
Quotes
As David Lear, Executive Director of Sustainability at Dell, explains, sustainability has evolved from a sense of doing the right thing just because to a state of doing the right things because doing so reduces risks and costs.He cites the example of Dells recent decision to become the first computer manufacturer to offer bamboo packaging to its customers. Not only does bamboo grow more quickly than traditional organic packaging materials, but it can also be grown adjacent to Dells manufacturing facilities, thereby reducing transport costs and greenhouse gas emissions. By offering our customers bamboo packaging, we also help them avoid disposal taxes levied in certain jurisdictions on traditional packaging waste, explains Lear. The Spanish shoe company Camper offers another example. Its Wabi shoe range is produced from just three components. By cutting down on the materials used, the company made the shoes easier to recycle and cheaper to produce. It also meant that they could streamline the supplier base and gain greater visibility into the costs of production. If you reduce the number of materials and components in your products, you are reducing your costs, as well as your environmental and social risk, says Climent. In that equation, sustainability and profitability go hand in hand.
The Sustainability Imperative CFO Insights: A newsletter from Deloittes CFO Program
The increasing importance of this issue to stakeholders is also not lost on CFOs. In fact, more than three-quarters of survey respondents indicated that it is important or very important to communicate about sustainability to shareholders and institutional investors http://www.deloitte.com/view/en_US/us/Insights/browse-by-role/Chief-Financial-Officer-CFO/CFOInsights/38a611f203483310VgnVCM1000001a56f00aRCRD.htm
GlobalWaterWithdrawals
Irrigationwaterwithdrawal (IWW)andconsumption(IWC) relativetoglobalwater withdrawal(GWW)and consumption(GWC)
Shiklomanov,2000