’Many brokers are struggling to take their first steps towards net zero,’ warns chief executive
Biba has teamed up with carbon accounting firm Flotilla to offer brokers a new sustainability package as ”many are struggling” to make their first steps towards net zero.
The package includes a £1,500 initial sign up and carbon reporting fee, plus £375 per month for net zero planning, delivery and ongoing support, a statement released today (15 June 2023) said.
Firms will receive a 20% reduction if they sign up by September 2023, while those who sign up in November or December 2023 will receive a 10% discount.
Flotilla founder and chief executive John Rastrick highlighted that “many brokers are struggling to take their first steps towards net zero”.
“Our offer to Biba members addresses this, providing simple yet robust and authentic net zero plans that any business of any size can achieve,” he said.
Challenges
In addition to Biba, Flotilla works with several insurance companies – namely Aviva’s Wealthify, AllClear Travel Insurance and JMG Group.
Read: Brokers lack urgency and interest in net zero transition – Ecclesiastical Insurance
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AllClear started working with Flotilla earlier this year to calculate the company’s carbon footprint.
Discussing brokers’ struggle, AllClear’s head of corporate affairs Garry Nelson said that “big players in the insurance industry are leading the charge on sustainability and their focus is inevitably on addressing the issues that matter most to clients”.
“This leaves many smaller brokers asking themselves ‘what can I do?’ and ‘where do I start?’,” he said.
Earlier this year (28 April 2023) Ecclesiastical Insurance revealed that the number of brokers saying they were too small for net zero to concern them rose from 3% to 12% year-on-year.
However, the research also found the main barrier to setting a target was that brokers do not have the resources to focus on net zero right now, with 51% feeling this way.
Nelson added: “Based on our experience so far at AllClear, I’d say to other brokers that because our industry is so strictly regulated, you are probably further along on your ESG journey than you think.
“I would also say that when it comes to environmental sustainability, business size isn’t important.
“There are things we can all do – from big corporates making big changes to small high street brokers taking action at a local level – which will have a positive impact.”
‘Big difference’
Rastrick noted that taking action on sustainability can help brokers solve “key challenges” that the cohort is currently facing in insurance – including “attracting and retaining the best talent, taking advantage of technology, reducing costs, identifying business opportunities and gaining competitive advantage”.
Nelson added: “Having the opportunity to work with Flotilla enables brokers to see what their carbon footprint looks like now, helps them establish where they want it to be and supports them through a realistic plan for getting there.
“It will make a big difference to many businesses in our sector.”
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