A Systematic Review of ESG Investing and Climate Change as a Sustainable Practice in the Insurance Industry

Inclusion of environmental, social, and governmental (ESG) practices and concern about the climate change while investing finances has evolved as the latest trend among the companies. Thereby, they can analyze the resilience of their firm towards long-term risks, and opportunities. It is therefore, the concept of ESG investment has emerged as one of the most sustainable practices for the firm's survival and thus handling the challenge of climate change and risks involved in the business and hence turning it into opportunities. Apart from the adoption of sustainable business models and thus contributing to the global mission of low carbon emission economy, companies are now drifting their focus towards green economy. Since, insurance industry is one point solution to every business by handling risk in a much efficient manner; by offering provisions of insurance coverage; acting as risk experts thus accessing risks (policy, litigation, market and technological risk) involved in the business and hence is contributing significantly in the field of climate sustainability, and facilitating green investment. The current study is conceptualized with the help of research questions which will turn insightful in discovering the contribution of various authors, nations, journals in the field of ESG, sustainability and climate change. The research will be useful to the persons belonging to the domain of academics, corporate hubs, and representatives of political circle on the verge of making policies.