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Global Commitments and Sustainability Indices

Our international and local commitment to sustainable development is strong and reflected by the company’s voluntary compliance with benchmark international and local initiatives in this area, in which we actively participate.

We have integrated the ten principles of action covered by this pact, which we have been part of since 2004, into our management. These consist of topics relating to human rights, labor rights, the environment and the fight against corruption. The results have been very satisfactory. In 2020, MAPFRE’s Progress Report has again awarded the maximum score of Advanced by the United Nations.

This develops and promotes links between the environment, sustainability and financial performance, identifying and encouraging the adoption of best environmental and sustainability practices at all levels of the financial institution’s operations.

We work to integrate these insurance industry-specific principles into our activity, which seek to incorporate environmental, social and corporate governance aspects into business management, in terms of both opportunities and risks. Within this framework, we have adhered to the general insurance industry commitment to support the United Nations in disaster risk reduction (United for disaster resilience).

The commitment to achieve a safe, stable climate in which the rise in global temperatures does not exceed 2ºC and to immediately adopt measures to bring greenhouse gas emissions down to a safe level.

We are a signatory to the Carbon Disclosure, Water Disclosure and Carbon Action programs which form part of the Climate Disclosure Project (CDP).

MAPFRE has adopted the Women’s Empowerment Principles established by UN Women, the UN organization dedicated to promoting gender equality and women’s empowerment. Through its participation in this initiative, MAPFRE is contributing to the fifth Sustainable Development Goal (Gender Equality) of the Agenda 2030, which aims to achieve gender equality and empower all women and girls. Through its Diversity and Equal Opportunities Policy, MAPFRE aims to build a culture of respect for people, consolidate favorable behaviors and promote an openness to diversity.

These Standards of Conduct are based on the Guiding Principles on Business and Human Rights and the Global Compact. By adopting these Standards of Conduct, MAPFRE has taken a step further in its commitment to human rights, the Sustainable Development Goals (SDG 10 — Reduced Inequalities), diversity and equal opportunities, this time in relation to sexual orientation. This commitment to human rights is reflected in MAPFRE’s Institutional, Business and Organizational Principles and, explicitly in its Code of Ethics and Conduct and prevailing Corporate Social Responsibility Policy.

For the fourteenth consecutive year, MAPFRE is once again a part of the Financial Times and Stock Exchange (FTSE) 4Good, one of the leading international barometers for measuring the performance of companies in terms of sustainability, and which recognizes the company’s excellence in relation to environmental, social and corporate governance practices. Companies included in this index, designed by the FTSE Russell group, meet very demanding, fully transparent and public criteria relating to best sustainability practices, in areas such as environmental sustainability—in particular the fight against climate change—good stakeholder relationships, and the support of and respect for universal human rights.
A prestigious annual publication by S&P Global that ranks the most socially responsible companies. To appear in the Yearbook, companies must be among the top 15 percent in their sector and must achieve a score that is within 30 percent of the best performing companies in their industry in terms of environmental, social and governance matters. For this 17th edition of the Yearbook, S&P analyzed a total of 7,032 companies across 61 sectors. Among those selected are 24 Spanish companies. MAPFRE is the only insurer among this group, which highlights the international recognition that the multinational has received for the effort it has made in recent years on its sustainability strategy.

We have become a member of the global network of signatories to the Principles for Responsible Investment, a United Nations initiative that aims to understand the impact of environmental, social and governance issues on investment and take these into account when making decisions.

We are part of 380 companies from 11 sectors that are make up the Bloomberg 2021 Gender Equality Index (GEI: Global Gender-Equality Index) which measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and pro-women brand.

The integral and transparent GEI classification methodology facilitates investors in evaluating performance within this scope and establishes comparisons in all the groups of industry pairs.