MAPFRE will approve 14,500 providers with sustainability criteria until 2024
- The company has committed itself to incorporating environmental, social, and good governance practices in all the processes of its supply chain.
- It has developed a methodology for promoting responsible practices in its primary network for home, motors, and health and among its purchase providers.
- Since 2019, it has used ESG criteria to approve over 5,000 providers from various countries.
- The commitment to this approval process is part of its Sustainability Plan 22-24 along with #PlayingOurPart.
MAPFRE has committed itself to making its supply chain more sustainable, meaning that it will gradually incorporate environmental, social, and good governance practices in all its processes. This will help the company reinforce its relationship with its providers, offer better service to its customers, and promote its commitment to sustainability.
The company pledges to approve 100% of its providers in the primary network for home, motors, and health, and its main purchase providers with ESG criteria in 2024. Between companies and freelancers, this would amount to 14,500 providers that carry out operations in countries like Spain, Germany, the USA, Mexico, Puerto Rico, Brazil, and Peru.
To do this, it has developed its own ESG approval methodology that helps encourage providers to maintain business and support practices that are aligned with MAPFRE’s sustainability strategy.
The model identifies the risk factors of aspects related to compliance with environmental regulations, human rights, worker’s occupational health and safety, corruption, and information security, among others. It assigns a score between 0 and 100, which allows it to establish individualized action plans to speed up the adoption of measures to protect the planet, close social gaps, and promote ethics and transparency.
At the beginning of 2019, the company started an approval process in its primary network, which has allowed it to use ESG criteria to approve more than 5,000 providers so far from various countries.
Free of discrimination and corruption
MAPFRE works with nearly 145,000 providers, billing more than EUR 4.44 billion and promoting their ethical and socially responsible conduct.
To achieve this, it has a purchase standard that establishes economic, environmental, social, and governance criteria, as well as the various basic principles they all must comply with, such as rejecting any kind of workplace discrimination, harassment, child labor, and corruption. It also has the Provider Management Operating Model (POM), which ensures supply chain compliance with technical rigor, vocation for service, operational efficiency, and responsibility. It also makes available the training needed for providers to carry out their operations and for them to become companies that are increasingly committed to sustainable development.
ESG in the business
MAPFRE has a sustainability strategy that is completely integrated with its business, a strategy that puts people at the center of everything and responds to the needs of all stakeholders. It is completely committed to Agenda 2030 and focuses its commitments on social, environmental, and corporate governance areas, so that it can keep helping to reduce social gaps, promote insurance accessibility, protect the planet, and have a governance structure that promotes ethics and transparency, among others.