Insurance Overview
Insurance companies supply services to a wide variety of customers, from everyday consumers to large corporations.
But do they have guidelines or policies as to who they will and won't insure? Do green and ethical considerations feature in insurance companies' risk assessments?
Might they, for example, offer coverage to munitions factories or companies with significant operations in countries with oppressive regimes? Or might they insure others with poor labour or environmental records?
Green and ethical insurance products
Green and ethical insurance products
For home, motor, travel, life and health insurance, there is a small but growing number of green and ethical insurance products available. A selection is below:
- Co-operative Insurance
Insurance type: home, motor, life and health
This provider has a comprehensive ethical engagement policy in place that governs all its insurance decisions. The Co-op's 'ecoinsurance' scheme offers cash incentives as well as environmental pledges. It offsets the equivalent of 20 per cent of the CO2 from every vehicle insured and also offers premium discounts for greener cars. - Climate Sure
Insurance type: travel
Climate Sure calculates the CO2 produced by flying overseas and pays for it to be 'offset' by funding sustainable energy projects. - Green Insurance Company
Insurance type: motor
This provider aims to offset your car's carbon emissions and offers discounts on greener cars/lower mileage. - Naturesave
Insurance types: home, travel, personal accident and illness
This company puts 10% of its personal insurance premiums in a fund (Naturesave Trust) to benefit environmental and conservation projects. It also offers a free environmental performance review for commercial clients and aims to use suppliers that support sustainable business practices. - Ansvar Insurance Co Ltd
Insurance types: home, motor, travel
Insurance is sold to individuals and organisations with a not-for-profit remit.
Your next steps
What do you do now? Check out our guide Next Steps - Insurance for suggestions on how to give your insurance policies a green and ethical makeover as well as the questions you should be asking your current or prospective insurance provider.
Insurance Search
Insurance Provider
M&S Bank
Green/Ethical Products
M&S Home Insurance offers old appliance replacement with new ‘A’ rated energy efficient models and ensures extensive home repairs are compliant to level 4 (out of 6) of the Code for Sustainable Homes.
Ethical Lending or Insurance
Not applicable. M&S Bank does not offer commercial lending or insurance services.
Human Rights
Not applicable. The bank does not offer commercial lending or insurance services.
Financial Exclusion
No evidence of any accounts, products or services aimed specifically at the financially excluded.
No evidence that the bank provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
M&S Bank, provides the following services for customers with disabilities:
- Textphone to textphone service
- Statements in Braille and large print
- Hearing loops
M&S Bank is committed to ensuring its websites are accessible to all customers. Where possible, they have followed the Web Content Accessibility Guidelines (WCAG), to ensure that our website is designed and written in a way that makes it easy to access for everyone.
No evidence found of M&S Bank’s involvement in any microfinance or microinsurance projects
No evidence found that the company invests in or lends at lower rates to financially excluded communities.
Environment
M&S Bank is a trading name of Marks & Spencer Financial Services plc, a wholly owned subsidiary of HSBC Bank plc. HSBC has an environmental policy which applies across the group and covers the key areas of climate change/energy efficiency, water use and waste management.
See here for more information.
The bank’s parent company, HSBC, appears to be committed to continued improvement of its environmental performance.
Carbon Neutral
No commitment to become fully carbon neutral was found for M&S Bank, but M&S became carbon neutral in 2012 (M&S operated stores, office, warehouses and delivery fleets in the UK and Republic of Ireland became carbon neutral).
HSBC Group (parent of Marks & Spencer Financial Services plc) was the first bank to become carbon neutral in 2005. However, in 2011, following a review HSBC decided that from 2012 the business will no longer be carbon neutral.
HSBC has a goal to reduce its annual carbon emissions per employee by one tonne from 3.5 to 2.5 tonnes by 2020.
Equal Opportunities
M&S Bank’s parent company, HSBC Bank plc, has an equal opportunities policy that applies across the Group and that takes into consideration the key equality issues gender, race, disability and sexuality.
Women on the Board
M&S Bank
1/5 women hold top level board positions (20%)
Voluntary Standards & Initiatives
The company abides by the 'The Lending Code', a voluntary code which sets the standard for good banking practice.
Charitable Giving
No evidence found for M&S Bank.
HSBC (parent company) invests in educational and environmental programmes around the world through financial support and company volunteering time.
M&S Bank
- Current Accounts
- Savings
- Investments
- Credit Cards
- Loans
- Insurance (Home, Motor, Travel, Pet)
M&S Bank
Customer Services Department
M&S Bank
Kings Meadow
Chester
CH99 9FB
