The BMA embraces sustainable success as a critical element of our corporate responsibility. We aim to prioritise good governance to sustain our world-class supervisory and regulatory effectiveness, while also helping to address a myriad of social and environmental issues, both locally and globally.
Regulatory Effectiveness
Sustainable success is a shared responsibility with all our stakeholders as we aim to achieve the best possible outcomes for Bermuda, industry and the BMA. At the BMA, it is driven by smart investment and prudent resource management as we also strive to share new ideas and cultivate the talents of our employees.
Environmental, Social and Governance (ESG) Strategy
As part of our shared responsibility, we are expanding efforts to focus more formally on our ESG strategies. A comprehensive process is underway to define what ESG means for us at the operational level as we continue to develop and embed an ESG and sustainability model for the organisation.
We will then monitor and measure our progress on ESG with the same level of rigour as we have for other organisational goals. As we work towards a comprehensive ESG model, we have also been advancing the below ESG-related initiatives.
Sustainable Building Practices
One way in which the BMA is currently advancing environmental sustainability is through the execution of numerous internal projects and initiatives focused on the adoption of sustainable building practices, including increasing water and energy efficiency and reducing waste and emissions. The ultimate goal is to obtain certification in Leadership in Energy and Environmental Design for our built environment, also known as LEED. As a leading globally recognised symbol of sustainability achievement and leadership, the LEED certification demonstrates an organisation’s commitment to environmentally responsible building practices.
Diversity, Equity and Inclusion (DEI)
Long before DEI became a part of the broader corporate lexicon, the BMA recognised the importance of what we would today call core DEI principles. Historically, the BMA has attracted a high level of diversity in our workforce based on the talents and specialised skillsets required to conduct our work as a regulator. We are now striving to more formally define what all aspects of DEI mean for the BMA as an organisation, establish our goals and bring accountability to them as part of our broader ESG process.
Employee Wellness
The BMA places great importance on improving indoor environmental quality and workplace designs while managing and mitigating risks associated with employee health, safety and wellness, thus ensuring a safe and positive work environment that supports employee wellness.
Strong Governance and Financial Management
To effectively and efficiently fulfil our mandate as Bermuda’s independent prudential regulator of financial services, we must place a heavy emphasis on our people and culture, technology and innovation. Nevertheless, to ensure these performance levers are harnessed sustainably, the BMA understands the criticality of embedding prudent risk-based approaches guided by strong governance within our strategies.
A baseline for this is a sustainable financial framework to support our operations. While the BMA has long incorporated sustainable financial and operational approaches, we now aim to measure, monitor and continue improving by setting enhanced standards and thoughtful protocols that take a wider view of what encompasses financial success.
