Principles of Sustainable Insurance

Principles of Sustainable Insurance

MAPFRE has adhered to the Principles for Sustainable Insurance promoted by the United Nations Environment Program Finance Initiative (UNEPFI), which were presented at Rio+20 Sustainable Development summit in Río de Janeiro (Brazil).

This initiative seeks to bring into business management, as a risk and an opportunity, environmental issues such as climate change, biodiversity and ecosystem degradation damage, water management and pollution; social aspects related to financial inclusion, human rights, health risks arising from development and population aging, and issues related to corporate governance, regulatory compliance, ethical management, conflicts of interest and transparency. These are referred to as the ESG factors, (Environmental, Social and Governance).

The table below shows the correlation among the UNEP FI Principles for Sustainability in insurance and their location in the Social Responsibility Annual Report (PDF, 16,4 MB).

Principles for Sustainable Insurance Location in the MAPFRE 2015 CSR Annual Report
1. Embed in our decision-making environmental, social and governance issues relevant to our insurance business

 - Letter from the Chairman and Ceo

 - MAPFRE and Corporate Social Responsibility (CSR)

  • New CSR Policy
  • The Sustainable Value Creation Model
  • The Relationship with Stakeholders: Relationship Channels and Materiality
  • Commitments to Sustainable Development
    International:
    • United Nations Global Compact . Sustainable Development Goals (SDGs)
    • UNEPFI: Principles for Sustainable Insurance (PSI),
    • Supporting the UN Global Insurance Industry Statement
    • Signatory to the "Paris Pledge for Action" (COP21)
    • Signatory to the Water Disclosure and Carbon Action Programs which form part of the Climate Disclosure Project (CDP)

  • Local:
    • Spanish Green Growth Group;
    • Signatory to the Barcelona Declaration,
    • Signing of the Biodiversity Agreement Adhesion  to the "One Million for the Climate" Initiative

 - MAPFRE’S social dimension

  • MAPFRE and its employees: employment policy; diversity, inclusion and equal opportunities; talent management; pay and recognition policy; well-being and work-life balance; work environment and internal reputation; internal communication; workers' legal representative; corporate volunteering.
  • MAPFRE and its clients: innovation; channels for communication with clients; quality; customer loyalty; complaints and grievances.
  • MAPFRE and its distributors: recruitment and training
  • MAPFRE and its providers: provider relational channels and support systems; provider selection criteria and relations with them; customer loyalty and evaluation of service quality.

 - MAPFRE's Environmental Dimension:

  • MAPFRE's Commitment to the Environment and Sustainability. 
  • Integrated Environmental, Energy and Carbon Footprint Management System.
  • MAPFRE's Strategy for Mitigating and Adapting to Climate Change.
  • Biodiversity Preservation.
 - SUPPLEMENTARY INFORMATION: GRI G4 indicator index
2. Work together with our clients and business partners to raise awareness of environmental, social and governance issues, manage risk and develop solutions

 - MAPFRE and Corporate Social Responsibility (CSR)

  • environmental, social and governance factors and risks (ESG); the importance of turning risks into business opportunities

 - MAPFRE’S social dimension

  • MAPFRE and its clients: innovation; channels for communication with clients; quality; customer loyalty.
  • MAPFRE and its distributors: recruitment and training
  • MAPFRE and its providers: provider relational channels and support systems; provider selection criteria and relations with them; approval of providers; customer loyalty and
    evaluation of service quality; training

 - MAPFRE's Environmental Dimension:

  • MAPFRE's Commitment to the Environment and Sustainability.
  • Initiatives taken 2015: Calculation and reporting of the carbon footprint for products and services for companies in the MAPFRE portfolio, decrease in energy requirements in products and services, assessment of the environmental impact of the organization by client.
  • Climate Change: Initiatives with Providers, Products and Services.

 - SUPPLEMENTARY INFORMATION: GRI G4 indicator index

3. Work together with governments, regulators and other key stakeholders to promote widespread action across society on environmental, social and governance issues

 - MAPFRE and Corporate Social Responsibility (CSR)

  • Commitments to Sustainable Development:
    International:
    • United Nations Global Compact . Sustainable Development Goals (SDGs)
    • UNEPFI: Principles for Sustainable Insurance (PSI),
    • Supporting the UN Global Insurance Industry Statement
    • Signatory to the "Paris Pledge for Action" (COP21)
    • Signatory to the Water Disclosure and Carbon Action Programs which form part of the Climate Disclosure Project (CDP)
    Local:
    • Spanish Green Growth Group; 
    • Signatory to the Barcelona Declaration,
    • Signing of the Biodiversity Agreement Adhesion  to the "One Million for the Climate" Initiative

 - MAPFRE's Environmental Dimension:

  • MAPFRE's Commitment to the Environment and Sustainability.
  • Integrated Environmental, Energy and Carbon Footprint Management System.
  • Environmental Culture.

- SUPPLEMENTARY INFORMATION: GRI G4 indicator index

4. Demonstrate accountability and transparency in regularly disclosing publicly our progress in implementing these Principles