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RCSF signs Nairobi Declaration on Sustainable Insurance

RCSF signs Nairobi Declaration on Sustainable Insurance

ArabFinance: The Regional Center for Sustainable Finance (RCSF), affiliated to the Financial Regulatory Authority (FRA), signed the Nairobi Declaration on Sustainable Insurance, during the fourth round of the African conference, Al Borsa News reported on May 4th.

The conference was held under the supervision of UNEP’s Principles for Sustainable Insurance (PSI) in April.

Under the Nairobi Declaration, all African insurance industry leaders support the achievement of the UN Sustainable Development Goals.

Signing the declaration comes in line with the FRA’s efforts to support the insurance sector’s achievement of sustainable development goals, which includes ensuring a sustainable recovery from the COVID-19 pandemic.

The authority supported principles of sustainable insurance with total investments worth EGP 309.1 billion during the last three years.

In March, the FRA established the RCSF to focus on strengthening the Egyptian economy’s existence on the global green economy map as the Middle East and Africa (MEA) region’s first sustainable finance center.

The center’s establishment follows the global green bond markets surpassing $1 trillion since the introduction of similar financial vessels in 2007.

 

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