UNEP Finance Initiative

UNEP-Finance Initiative

UNEP FI (UNEP Finance Initiative) is a global association set up by the United Nations Environment Program and the financial sector. UNEP FI works closely with over 170 financial institutions that are signatories to UNEP FI declarations, and numerous associated organizations, with the purpose of developing and promoting links among the environment, sustainability and financial performance. Through regional activities, UNEP F1's broad work, training and research program is accomplishing its mission of identifying, promoting and implementing the adoption of the best environmental and sustainability practices at all operational levels of a financial institution.

MAPFRE, a key player in the insurance sector, recognizes that economic growth needs must be compatible with human welfare and with a healthy environment. Ignoring this need will only increase social, environmental and financial costs. Our sector, in joint collaboration with governments, individuals and organizations, performs a vital role in the management and reduction of environmental risks. We have decided to work together on such crucial issues as contamination reduction, efficient resource consumption and climate change. We are striving to reach realistic sustainable solutions.

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  • 1.1 We regard sustainable development, defined as development that meets the needs of the present without endangering the capacity of future generations to see to their own needs, as a fundamental aspect of rational business management.
  • 1.2 We believe that the best way to achieve sustainable development is by allowing markets to act within a framework of proper regulation and cost-effective economic tools. Government must perform a management role in establishing and applying priorities and long-term values.
  • 1.3 We are of the opinion that a strong, active insurance sector contributes significantly to sustainable development, owing to its interaction with other business sectors and with consumers..
  • 1.4 We believe that our sector's knowledge and current techniques on issues such as grasping uncertainties, risk identification and quantification and risk response are vital factors that help solve environmental problems.
  • 1.5 We recognize the principle of due precaution, since it is impossible to quantify certain interests sufficiently or reconcile all effects pertaining to same in purely financial terms. Research is needed to reduce this uncertainty, but it cannot be entirely eliminated.

  • 2.1 We will redouble the attention given to environmental risks in our basic activities. These activities include risk management, loss prevention, product design, complaints processing and asset management.
  • 2.2 We are firm in our intention to manage our internal operations and the physical assets under our control so that they reflect environmental considerations.
  • 2.3 We will periodically revise our administrative practices so as to integrate pertinent new developments in environmental management to our activities as regards planning, marketing, communications among employees and proficiency, in addition to other basic activities.
  • 2.4 We encourage research into these and related issues. Responses to environmental issues can have variable efficacy and cost. We support research projects that lead to creative, effective solutions.
  • 2.5 We back insurance products and services that promote environmentally rational practices through measures such as loss prevention and contractual conditions. In addition to complying with safety and profitability requirements, we will strive to include environmental considerations in our asset management.
  • 2.6 We will carry out periodic internal examinations of environmentally related subjects and will endeavor to set measurable goals and environmental standards.
  • 2.7 We will comply with all applicable environmental regulations at local, national and international levels. In addition to complying with these regulations, we will make every effort to prepare and adapt best practices to environmental management. We will provide our clients, partners and suppliers with the necessary support so that they can do likewise.

  • 3.1 Although we will respect commercial confidentiality, we are willing to share pertinent information with our interlocutors, including clients, intermediaries, shareholders, employees and regulators, so as to enhance society's capacity to respond to environmental challenges.
  • 3.2 Dialogue with public authorities and other bodies will help create a more effective framework for sustainable development.
  • 3.3 We will work in joint collaboration with the United Nations Environment Program in order to promote the principles and objectives of the present declaration and we will seek its active support.
  • 3.4 We will encourage other insurance institutions to support this declaration. We firmly intend to share our experience and knowledge with them in order to expand best practices.
  • 3.5 We will vigorously communicate our environmental activities to the public, we will periodically revise the efficacy of this declaration and we hope that all signatories will make real progress.