MAPFRE
Madrid 2,228 EUR 0,03 (+1,55 %)
Madrid 2,228 EUR 0,03 (+1,55 %)

SUSTAINABILITY| 02.22.2024

MAPFRE rises in the CDP and ranks among the leading companies in the fight against climate change

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  • MAPFRE rises to the “leadership” category (A-), recognizing it as one of the most transparent and environmentally friendly companies.
  • In 2023, its global operational carbon footprint decreased by 25%, and it reduced the carbon footprint of its investment portfolio (MAPFRE AM) by 35% compared to 2019.
  • Among its decarbonization commitments, achieving Net Zero by 2050 stands out.

MAPFRE has risen in the prestigious climate change index, the CDP, where it has achieved one of the highest scores, that of “leadership” (A-), surpassing companies in the financial sector, whose average rating is a B. This result represents recognition of its strategy to combat the effects of climate change.                                                  

In this edition, the index has assessed the progress made by the Group regarding energy consumption, indirect carbon footprint emissions, the aim of achieving Net-Zero by 2050, collaboration with the value chain, climate strategy and analysis of climate scenarios

CDP employs a detailed and independent methodology to evaluate companies, assigning a score from A to D based on the comprehensiveness of disclosure, awareness and management of environmental risks, demonstration of best practices, and setting ambitious goals. CDP holds the world’s largest environmental database, whose scores are used to drive investment and acquisition decisions towards a sustainable, resilient, and zero-carbon economy. 

“We are very pleased to have achieved the leadership level in the CDP ranking.” “The fight against climate change is part of the objectives of our Sustainability Plan 2022-2024, which, among other objectives, aims to develop products and services with sustainable criteria and meet increasingly ambitious commitments, such as reducing the Group’s operational carbon footprint by 50% by 2030, qualifying 90% of the investment portfolio with ESG criteria, and not insuring and investing in coal, gas, and oil companies that do not commit to an energy transition plan,” said Mónica Zuleta, Group Head of Sustainability at MAPFRE.

Neutral by 2030 and Net Zero by 2050:

MAPFRE continues to advance towards the decarbonization of the economy through investments and underwriting, with the public commitment of not investing in or insuring coal, gas, and oil companies that do not commit to an energy transition plan. Also, with measures to reduce the footprint of its direct operation, including the reduction of fossil fuels and electricity consumption, the use of renewable energy sources such as solar power, the replacement of its conventional vehicle fleet with hybrid or electric vehicles, and the reduction of business travel and employee commutes to workplaces.

In 2023, the Group reduced its global operational carbon footprint by 25% compared to 2019, thanks to the use of renewables and sustainable mobility. Additionally, it has decreased the carbon footprint of MAPFRE AM’s investment portfolio by 35% compared to the same year.