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Environmental, Social and Corporate Governance Policy

As a well-respected player in the insurance sector, we are aware of the need to demonstrate our Environmental, social, and corporate governance (ESG) commitment and progress.

At Lothbury UK Limited (LUK), we are recognised for our transparent and quality driven approach to our business and staff, and we are determined to keep driving change within the business through open and honest dialog.

ESG is one of LUK’s areas of strategic priority and is represented at Board level by David Howard, LUK Chief Executive Officer.

1. Our commitment

  • Environmental sustainability is an ethical and commercial imperative. Managing our carbon footprint goes hand in hand with the strategic necessity to operate efficiently. Our commitment to tackling climate change at a corporate level is fundamental to our strategic objectives.
  • Our people make up our business, their intellectual capital is core to our clients, our business model, and our long-term sustainability as a business. We aim to foster an environment that values and nurtures unique talents and contributions from every individual within a culture of inclusivity. While we have progress to make, we are committed to cultivating and empowering change by building an inclusive workplace where all talents live.
  • Good governance is foundational to our business, and all aspects of ESG. We cannot thrive without paying attention to our compliance obligations. Our business seeks to go beyond the concept of ‘box-ticking’ and embed compliance into the heart of our business.

2. Our statement on climate change and the environment

  • We are committed to being a socially responsible independent commercial insurance broker.
  • We are committed to driving down our energy and carbon impacts, as we believe that climate change is one of the greatest risks to our world.
  • Our sustainability program is committed to environmentally sustainable initiatives that deliver near-term efficiency, value, and health for our business, our people, and the wider community.
  • We openly encourage our customers to reduce their impact on the environment by providing them with policies, advise, and support services that improve environmental performance.
  • We actively promote a paper-free office and regularly support our clients to avoid printing and we will make all endeavours to be a digital first business.
  • We seek to comply with current environmental legislation and will continue to work to minimise the impact of our activities on the environment.
  • We support the recommendations of the Taskforce on Climate-related Disclosures (TCFD) and measure our progress against the “Lloyd’s of London Environmental Promise” (Lloyds United Nations Global Compact 2021 final.pdf).

3. Our statement on social responsibility

  • We are committed to engaging with our employees to provide a challenging, dynamic, inclusive, and diverse work environment that supports their professional development, as well as promoting a good work-life balance that prioritises their overall health and wellness.
  • We will support initiatives that benefit the environment, human welfare, and education. This includes skills training that advance workforce talent pipelines for customers and economic development in the communities in which we operate.
  • We will engage suppliers, clients, and employees around safety, health, and wellness.
  • We will preserve and promote the protection of human rights and welfare within our own business activities, as well as those of our supply chain.

4. Our statement on ethical governance

  • We will maintain strong corporate governance practises through exemplary board stewardship, management accountability, and initiative-taking risk management.
  • We will mitigate exposure and build the resilience of our business to climate change, and other catastrophic events through smart design and sighting.
  • We are committed to high ethical standards through a strong code of ethics and business conduct , ongoing ethics training, and executive leadership that promotes a culture of integrity.
  • We cultivate strong stakeholder relationships through transparency, open communications, and responding to stakeholder input.
  • We establish clear and effective governance for ESG, set goals and establish accountability, this is set and monitored by the Board.

5. Our responsibility to our clients

  • We have an obligation to our clients to offer them the best service. Clients are at the heart of our business, and without these partnerships our business would not exist. Part of our commitment to clients is about responding to their needs, hearing their concerns, and committing ourselves to client satisfaction.

6. ESG and our value chain

We require our suppliers to:

  • Fully comply with internationally recognised environmental, social, and corporate governance standards and applicable laws.
  • Take a pro-active approach, committing to responsible business initiatives like the United Nations Sustainable Development Goals, the United Nations Global Compact and other national or international positive commitments.
  • Have a responsible business strategy and transparent reporting, and where applicable responsible investment policy, appropriate to the size and nature of the supplier.
  • Ensure that their workforce (including those not directly employed by the Supplier i.e. agency staff, contractors, and subcontractors) are kept aware of the Code or the Supplier’s own policy (if this is to a higher standard) and provide them with the appropriate training and skills to maintain continuous improvement.

7. Monitoring and enforcement

  • Our Management and Board committees collaborate closely with our client facing staff to ensure that we provide the best, ESG compliant, products and services to our clients.
  • Our Management and Board members are held responsible for ensuring that we stay fully compliant with the FCA’s ESG regulatory requirements.
  • Our employees are informed by mandatory training requirements which are completed via on-line platforms and monitored/managed by a senior member of staff.
  • Our Compliance Manager preforms monitoring activities to ensure that our trading entities comply with rules, regulations and legislation governing insurance intermediation.