GA Insurance Limited, a leading insurance provider in Kenya, has announced its membership in the African Natural Capital Alliance (ANCA) and its signing of the Nairobi Declaration on Sustainable Insurance (NDSI). These strategic moves affirm GA Insurance’s commitment to sustainability and position it as a pioneer in advancing sustainable insurance practices across Africa.
The African Natural Capital Alliance (ANCA) is a collaborative, multi-stakeholder initiative focused on promoting nature-related financial disclosures and fostering coordinated advocacy across the continent. By becoming a member, GA Insurance gains:
- Technical support to integrate sustainable practices into its operations.
- Networking opportunities with industry leaders advocating for sustainability.
- A platform for championing sustainable insurance practices.
Dorothy Maseke, Lead, Nature Finance & TNFD at FSD Africa, praised GA Insurance’s leadership:
“GA Insurance’s forward-thinking approach to sustainability reporting, including preparation for the IFRS S1 and S2 standards, sets a pioneering example. Their leadership in initiatives like the Eco-Drive product showcases a deep commitment to embedding nature-positive practices across Africa’s financial landscape. We look forward to driving transformative change together.”
The Nairobi Declaration on Sustainable Insurance (NDSI) is a global pledge to address pressing sustainability challenges such as climate change, ecosystem degradation, and poverty. By signing the declaration, GA Insurance solidifies its dedication to these critical issues and aims to contribute to a sustainable and resilient future.
Vijay Srivastava, CEO of GA Group, emphasized:
“Sustainability is not just a corporate social responsibility issue; it’s a fundamental aspect of our business. Joining ANCA and signing the Nairobi Declaration demonstrate our commitment to driving sustainable insurance practices and contributing to a more resilient and equitable future for Africa.”
GA Insurance has already implemented several impactful sustainability initiatives, including:
1. Eco-Drive Cover
- Kenya’s first motor insurance product designed specifically for electric vehicles.
- Recognized with the PAS 2060:2014 Carbon Neutral Certificate, making GA Insurance the first insurer in Africa to achieve this milestone.
2. Tree Planting Initiative
- A commitment to planting 10,000 trees as part of its carbon neutrality journey.
- The program commenced with a tree planting drive at Osupuko Primary School in Upper Kajiado, contributing to habitat regeneration and community engagement.
Zillah Malia, Senior Manager – Climate Finance at FSD Africa, commended GA Insurance’s leadership:
“GA’s commitment to embedding sustainable practices exemplifies the forward-thinking approach needed to drive sustainability in Africa’s insurance sector. Their initiatives are setting a strong example for advancing climate resilience across the continent.”
GA Insurance is actively preparing for the IFRS S1 and IFRS S2 standards, which will mandate sustainability reporting. Through its ANCA membership, the company will gain critical insights and support to meet these regulatory requirements, reinforcing its position as a leader in the sustainable insurance space.
GA Insurance’s proactive measures underscore the transformative role that insurance providers can play in addressing Africa’s sustainability challenges. By embedding eco-conscious practices into its core operations, GA is not only meeting emerging regulatory demands but also inspiring a new era of innovation and resilience in the insurance industry.
Key Highlights:
- Membership in ANCA and signing the Nairobi Declaration solidify GA Insurance’s sustainability leadership.
- Milestones include Africa’s first carbon-neutral insurance product and a 10,000-tree planting initiative.
- Commitment to mandatory sustainability reporting standards positions GA Insurance as a pioneer in transparency and resilience.
GA Insurance’s journey reflects a blueprint for how insurers can drive sustainability and inspire transformative change across the continent.
