The insurance sector (that represents 97% of CCFESA’s AuM as of 31/12/2022) is a key player in supporting the development of Environmental, Social and Governance improvements. Mutual insurers, as a large subsector accounting for 1/3rd of the industry in Europe, are amongst the oldest non-for-profit organizations. These entities are engaged in the Social Solidarity Economy. Increasing asset portfolio exclusions based on environmental / carbon considerations. COP-26 insurer commitment : promote circular economy, “repair rather than replace” and promote recycling. Protection against Accident & Health (A&H) is at the very heart of the insurance business • Supporting and promoting prevention is a natural behavior for insurers • Equal treatment / opportunities and good working environment are deeply established practices in the insurance industry. Adequate governance structures and fit-and-proper requirements are central in insurance regulatory supervision, even more so under Solvency II • In the case of mutual insurers, the absence of shareholders encourage an ethical and value-based approach to economic development that prioritizes the welfare of people and the preservation of the planet, over profits and “blind” growth. We have included the Social Environment and Governance dimensions in our investment analysis since 2019,