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, 12,6 MB).

Principles for Sustainable Insurance Location in MAPFRE’s Annual CSR Report 2016
1. We will embed in our decision-making environmental, social and governance issues relevant to our insurance business

 - Letter from the Chairman

 - MAPFRE and Corporate Social Responsibility

  • The sustainable value creation and stakeholder relations model.
  • Environmental, social and governance (ESG) factors and risks.
  • Prevention and compliance measures.
  • Commitment to sustainable development:
    • Sustainability Plan.
    • Commitments to international initiatives.
    • United Nations Global Compact.
    • United Nations Environment Programme Finance Initiative (UNEPFI).
    • Principles for Sustainable Insurance (PSI).
    • Signatory to Paris Pledge for Action (COP 21).
    • Signatory to the Carbon Disclosure Program; Water Disclosure and Carbon Action programs

 MAPFRE's Social Dimension

  • MAPFRE and its Employees: employment policy; diversity; professional development, flexibility and agility, and employee experience.
  • MAPFRE and its Clients: innovation; communication channels; quality; grievances and complaints.
  • MAPFRE and its Distributors: selection and training.
  • MAPFRE and its Suppliers: supplier relations and support systems; selection and relations criteria; approval; supplier loyalty and evaluation of service quality; training.
  • MAPFRE and its Shareholders: FTSE4good and FTSE4Good IBEX.
  • MAPFRE and Society: Sustainable Development Goals and human rights

 - MAPFRE's environmental dimension:

  • MAPFRE's commitment to the environment and sustainability.
  • Integrated Environmental and Energy Management System: (SIGMAYE).
  • Climate Change.
  • Biodiversity Preservation.
 - Supplementary information: GRI G4 Table of Contents
2. We will 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

  • Environmental, social and governance (ESG) factors and risks.

 - MAPFRE's Social Dimension

  • MAPFRE and its Clients: innovation; communication channels; quality; grievances and complaints;
  • MAPFRE and its Distributors: selection and training.
  • MAPFRE and its Suppliers: supplier relations and support systems; selection and relations criteria; approval; supplier loyalty and evaluation of service quality; training.
  • MAPFRE and Society: Sustainable Development Goals and human rights

 - MAPFRE's Environmental Dimension:

  • MAPFRE's commitment to the environment and sustainability.
  • Objectives Achieved in 2016 and Challenges.
  • Climate Change: Initiatives with Suppliers, Products and Services.

 - Supplementary information: GRI G4 Table of Contents

3. We will 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

  • The sustainable value creation and stakeholder relations model.
  • Environmental, social and governance (ESG) factors and risks.
  • Prevention and compliance measures.
  • Commitment to sustainable development:
    • Sustainability Plan.
    • Commitments to international initiatives.
    • United Nations Global Compact.
    • United Nations Environment Programme Finance Initiative (UNEPFI).
    • Principles for Sustainable Insurance (PSI).
    • Signatory to Paris Pledge for Action (COP 21).
    • Signatory to the Carbon Disclosure Program; Water Disclosure and Carbon Action programs

 - MAPFRE's environmental dimension:

  • MAPFRE's commitment to the environment and sustainability.
  • Integrated Environmental and Energy Management System: (SIGMAYE).
  • Climate Change.
  • Biodiversity Preservation.

Supplementary information: GRI G4 Table of Contents

4. We will demonstrate accountability and transparency in regularly disclosing publicly our progress in implementing the Principles
  • MAPFRE Annual Corporate Social Responsibility Report 2016
  • Integrated Report 2016
  • www.mapfre.com