Berkley Insurance Company
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Modern Slavery
- Human Rights
Social Achievements
- Reviewed modern slavery statements of suppliers exceeding A$100K in expenditure.
- Included modern slavery warranty clause in certain contracts.
- Considered third-party ESG providers to evaluate investment portfolio.
Governance Achievements
- Implemented a Code of Ethics and Business Conduct policy.
- Mandated ethics training for all new employees.
- Established procedures for reporting ethical concerns and investigating reports of violations.
Climate Goals & Targets
Long-term Goals:
- Regularly reviewing and assessing (on an annual basis) our practices and procedures against the requirements of the Modern Slavery Act 2018 (Cth).
Short-term Goals:
- Continue to enhance relevant policies and commercial arrangements with the inclusion of a modern slavery warranty clause.
- Improve staff awareness of modern slavery risk.
- Enhance due diligence and risk management processes for selection and screening of potential partners and suppliers to include consideration of modern slavery risks.
Environmental Challenges
- Potential modern slavery risks in suppliers' supply chains.
Mitigation Strategies
- Engaging with reputable companies with strong values.
- Third-party risk management assessment of major suppliers.
- Review of suppliers with expenditure exceeding A$100K.
- Inclusion of modern slavery warranty clause in contracts.
- Consideration of third-party ESG providers for investment portfolio evaluation.
Supply Chain Management
Supplier Audits: Review of suppliers with expenditure exceeding A$100K.
Responsible Procurement
- Inclusion of modern slavery warranty clause in certain contracts.