MAPFRE analyzes social and environmental challenges at the third annual United Nations UNEP FI 2023 roundtable
- MAPFRE works in different areas to bridge inequality gaps and help societies develop inclusive, equitable, and fair policies for their people.
- UNEP FI works with more than 400 members, including insurers, banks and investors, to promote a model that helps correct the inequalities that keep society from fulfilling the 2030 Agenda.
- The insurance company is part of this high-level international group of experts that provides recommendations to the United Nations to speed up action for sustainable development.
“Our approach to social sustainability revolves around prioritizing people, bridging inequality gaps both within and beyond the company, developing inclusive, equitable, and fair policies for people. It’s also about caring for the environment, with a justice-minded vision for all generations, acting with high ethical standards in the management and governance of the company.”
These were the words of Antonio Huertas, MAPFRE CEO, during his participation today, September 12, at the UNEP FI European Regional Roundtable. The event was organized by the United Nations Environment Programme’s Finance Initiative (UNEP FI) and marked their inaugural roundtable meeting in Madrid. Notably, Carlos Torres, BBVA CEO, Ana Botín, Chairwoman of Santander, and José Ignacio Goirigolzarri, Chairman of CaixaBank, also took part in the event. The four of them engaged in discussions to evaluate their sustainability commitments and to share their best practices in responsible business within the finance and insurance industries.
Antonio Huertas: “The energy transition must also be fair for people”
During his address, the MAPFRE CEO, who dedicated a significant portion to emphasizing the importance of placing sustainability at the forefront of people and society, called for the energy transition to not only be urgent but also to be fair across generations, considering the impact it has on the generation responsible for its implementation. We cannot deprive them of economic opportunities for environmental reasons without providing a sustainable alternative for them to sustain their livelihoods. That’s why, according to Mr. Huertas, “at MAPFRE, our environmental commitment is to continue raising the standards for sustainability firmly and progressively, guiding society in a fair transition, and helping our customers and people who depend on the company’s activity to also move in the right direction. We have thus made public commitments aimed at supporting the economy’s decarbonization, such as ensuring that the entire Group is carbon neutral by 2030, and achieving zero net emissions in our insurance and reinsurance underwriting portfolios by 2050.”
During his address, Antonio Huertas also highlighted other important sustainability commitments, such as eliminating the gender pay gap; reaching the goal of having 3.5% of the workforce represented by people with disabilities; approving 14,500 providers with sustainability criteria by 2024; and rating 90% of our investment portfolio with ESG criteria.
The multinational is currently implementing its Sustainability Plan 2022-2024, a strategy that has been fully integrated into the business and the decision-making processes of all areas of the company, responding to the needs of all the company’s stakeholders. It’s an extremely ambitious plan, with more than 20 measurable, achievable, and realistic objectives.
UNEP FI: the key to taking action
Throughout its thirty-year history, UNEP FI has worked with financial leaders to create some of the most important sustainability-oriented frameworks within the financial and insurance industry, such as the Principles for Responsible Investment (2006) and the Principles for Sustainable Insurance (2012).