The sustainable development practices of the insurance industry in UAE

Abdulla Al Jeaidi, Toufic Mezher

    Research output: Contribution to journalArticlepeer-review

    1 Scopus citations

    Abstract

    The objective of this research is to investigate the current sustainable development practices of the insurance industry in UAE. The methodology used in this study was designing a survey questionnaire that included questions related to: awareness of insurance companies to environmental issues; environmental leadership; internal environmental practices; climate change, global warming and environmental concerns; strategies to mitigate environmental effects; engagement with external stakeholders; improving business opportunities; and potential stewardship role. The survey targeted 60 UAE insurance companies and 56 responded. The results indicated that there were increased awareness of insurance companies to environmental issues and showed energy saving culture and proper water usage. Legislation, environmental groups, and advances in technology were found to be the most important drivers for environmental awareness. In addition, insurance companies showed that they were more proactive when it comes to environmental concerns.

    Original languageBritish English
    Pages (from-to)226-241
    Number of pages16
    JournalInternational Journal of Sustainable Society
    Volume9
    Issue number3
    DOIs
    StatePublished - 2017

    Keywords

    • Climate change
    • Financial sector
    • Insurance industry
    • Stakeholders
    • Sustainable development
    • UAE

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