Chaucer, the international specialty (re)insurance group has promoted Simon Tighe to become its Group Head of ESG, in addition to his role as Group Head of Investments & Treasury within the firm. Simon has been instrumental in driving Chaucer’s ESG sustainability strategy, which is committed to embedding ESG into the decision-making process.

Simon has played a crucial role in the development of Chaucer’s major ESG initiative which it developed in partnership with Moody’s. The ESG Balanced Scorecard enables businesses to measure their ESG performance, across up to 158 distinct metrics, enabling them to evaluate business risks and opportunities.

“I am delighted to announce Simon’s new role as Group Head of ESG. He has been a driving force in the evolution of our ESG strategy, in particular the design and development of our ESG Balanced Scorecard with Moody’s allowing an objective measurement of ESG.”

John Fowle, CEO OF CHAUCER

“At Chaucer we are committed to adding meaningful value to all our counterparties as we strive to support transition and deliver on our sustainability goals including becoming net zero by 2050 and carbon neutral by 2030.”

John Fowle, CEO OF CHAUCER

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“I’m looking forward to continuing and building upon Chaucer’s ESG achievements to date. Being a genuine force for good is at the heart of our approach to ESG. I’m excited to lead the tangible impact we can make in the way that our clients and counterparties manage and mitigate their ESG risk.”

Simon Tighe, GROUP HEAD OF INVESTMENTS & TREASURY AND GROUP HEAD OF ESG

Chaucer recently announced it has signed up to the United Nations Principles for Sustainable Insurance (PSI). The principles will serve to address ESG risks and opportunities for the insurance and reinsurance industries.

The ESG Balanced Scorecard which Chaucer developed jointly with Moody’s, the leading global provider of financial intelligence, uses up to 158 metrics to evaluate the ESG performance of a business, based on its disclosures. The design marries Chaucer’s expertise in underwriting risk, with Moody’s data and ESG-modelling expertise, to help businesses identify and manage ESG risks and opportunities, helping them to become more sustainable. The scorecard not only enabling (re)insurers to manage their own ESG profiles but also helps (re)insurers better understand potential risks and areas for improvement related to the ESG of their customers.

Chaucer has also invested in and is providing lead capacity for, carbon credit insurance specialist Kita, whose Carbon Purchase Protection Cover insures buyers of forward-purchased carbon credits. The aim of the product is to incentivise corporates to invest in carbon removal projects, by providing coverage should credits from forestry projects fail to materialise. Increased buyer trust in carbon delivery leads to greater flows of capital to help scale carbon sequestration projects at the rate necessary to fight the climate crisis.