The Costa Rican Insurance Sector in the Face of Climate Change: Actions for Transformation

In 2022, representatives of the Costa Rican insurance sector developed a sectoral protocol for responsible business behavior, with the aim of achieving responsible and sustainable management of their businesses, in line with the country's vision of sustainable development. The main areas in which actual or potential impacts exist along the insurance value chain and in which companies and organizations in the sector are committed to work were identified as part of this process of building the protocol, with the facilitation of the Business Alliance for Development (AED). The signatories chose the adoption of a climate strategy as the number one priority to work on.

To respond to this urgency, the document identifies a series of actions at a technical, regulatory and commercial level, and which are necessary to achieve a relevant and effective approach to the climate crisis on behalf of the different organizations that make up the Costa Rican insurance sector.