Speciality re/insurance group Chaucer has promoted Simon Tighe to become its group head of ESG (environmental, social and corporate governance), in addition to his role as Investments & Treasury group head.

Simon has been key in promoting Chaucer’s ESG sustainability strategy.

Chaucer stated that it is committed to having ESG in the decision-making process.

Simon had an important role to play in developing the company’s major ESG initiative, which was developed in partnership with Moody’s.

Its ESG Balanced Scorecard allows businesses to track their ESG performance, across up to 158 unique metrics, allowing them to identify, assess and manage business risks and opportunities in terms of ESG and become more sustainable.

The scorecard brings together Chaucer’s expertise in underwriting risk, with Moody’s data and ESG-modelling expertise.

Chaucer CEO Joh Fowle said: “I am delighted to announce Simon’s new role as Group Head of ESG. He has been a driving force in the evolution of our ESG strategy, in particular the design and development of our ESG Balanced Scorecard with Moody’s allowing an objective measurement of ESG.

“At Chaucer, we are committed to adding meaningful value to all our counterparties as we strive to support transition and deliver on our sustainability goals including becoming net zero by 2050 and carbon neutral by 2030.”

Simon Tighe said: “I’m looking forward to continuing and building upon Chaucer’s ESG achievements to date. Being a genuine force for good is at the heart of our approach to ESG. I’m excited to lead the tangible impact we can make in the way that our clients and counterparties manage and mitigate their ESG risk.”

Chaucer has recently signed up for the United Nations Principles for Sustainable Insurance (PSI), which aims to address ESG risks and opportunities for the insurance and reinsurance industries.

In addition, Chaucer has invested in carbon credit insurance specialist Kita, whose Carbon Purchase Protection Cover solution insures buyers of forward-purchased carbon credits.