Here’s to Naturesave 2:0
The Naturesave mission, to make a real difference, has found a new home within the Benefact Group, a charity-owned family of financial services companies that donate all available profits to good causes. The Benefact Group (formerly the Ecclesiastical Insurance Group) has donated over £100 million to charity since 2016, making it one of the UK’s largest corporate donors.
This is a perfect ethical fit for Naturesave and will enable us to further our aims of creating a more sustainable insurance industry and raise even more money for environmental causes. It is also a big step up, as we will be able to draw on the many benefits of being part of larger group, that will enable us to improve our service, strengthen our relationship with insurers and enhance our position as the leading ethical and sustainable insurance provider.
Our ethics are not only safe and secure, they are stronger
The history of ethical brands being acquired is not without negative examples, so why are we so positive about our situation? Well, Naturesave’s ultimate owners are the Benefact Trust, a charitable trust driven by something far greater than the need to satisfy shareholders. They, like us, are motivated to make a real difference to the lives of the people and properties they help protect.
This refreshing ownership structure, ensures that strong ethics run throughout every business that makes up the Benefact Group, whether it is specialist insurance, broking, or investment management. Together the group provides responsible and sustainable investment, protection of iconic buildings and world heritage sites, and trusted insurance advice to people and businesses.
The Naturesave acquisition went through Lloyd & Whyte, a south west based broker within the Benefact Group. This will bring Naturesave multiple benefits, when it comes to running our business efficiently and effectively and also strengthens our insurance underwriter relationships.
Building a Movement for Good
Naturesave has always focused on giving back, with the donation of 10% of all our premiums for home and travel insurance, made to the Naturesave Trust, to which we have donated well over £1 million since the company was founded in 1993.
This good work will continue, but as part of the Benefact group, we will also be donating all remaining available profits to good causes. Donations can be nominated via the Movement for Good Awards, an annual platform for giving that invites anyone to nominate the charity of their choice. The more nominations a charity receives, the greater their chance of winning, so please spread the word and make it a movement!
But, how green are they?
Being green is part of Naturesave’s DNA, so it is important to understand how green the Benefact Group is. The easiest way to determine this is to ask the same questions we ask of our insurers.
Do any parts of the Benefact Group invest in fossil fuels and if so do they have a policy to divest of those assets?
Do any parts of the Benefact Group underwrite any fossil fuel production or associated industries involved in fossil fuel extraction? (This is an important question, as insurers hold an unparalleled influence over whether new fossil fuel projects can go ahead. According to the IEA and the IPCC amongst others, there can be no new fossil fuel developments if we are to stand a chance of limiting global warming to within 1.5 degrees, above pre industrial levels)
Is the Benefact Group taking the necessary steps to address their own operational emissions and do they have a credible net zero plan?
Find out more in the Building a Movement for Good Annual Report
Will Naturesave keep campaigning?
In short, yes and to greater effect.
Naturesave has sought to be a champion of sustainability within the insurance industry for many years, with varying success. We do this, primarily, by highlighting the unparalleled influence that the insurance industry has over progress in tackling the climate crisis. Whether as a result of the scale of the industry’s investments in fossil fuels, or through the act of underwriting fossil fuel production, this is an industry that has the potential to deliver the change we need at the pace we need.
Today, as part of a larger group we now have stronger and more far reaching insurer relationships, making it easier for our voice to be heard. In addition, with more resources behind us, we can grow and achieve our aim of ethical insurance becoming the mainstream.