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SUSTAINABILITY| 20.04.2021

MAPFRE Global Risks strengthens its commitment to sustainable energy generation

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MAPFRE Global Risks provides markets in Latin America with an insurance solution to underwrite renewable energy risks with a capacity of 100 million US dollars, enabling placement of all risk.

Last year, the business unit analyzed nearly 50 business opportunities related to this renewable energy product in 14 countries, underwriting more than 40 plants, totaling 1,500 MW of installed power.

A recent article published in its Risk and Insurance Management magazine addresses the transformation of the electricity sector and the role of renewable energies. It predicts that decarbonization of the economy will be one of the main challenges this century and this will have an impact on energy generation.

The transformation of the electricity sector to more sustainable sources, implies a gradual change in the mix of generation assets that make up insurance programs, with the divestment and closure of thermal coal plants and the inclusion of renewable energy projects — mainly onshore wind and solar power.

Insurance market players therefore have a great opportunity to make a difference, offering tailored solutions that demonstrate our awareness of the challenges our clients face and show our speed and agility in responding to changes in the renewable energy segment.

In summary, Latin America is a key region that allows us to take advantage of the magnificent platform provided by the group, which offers a lot of potential for this type of project.

At MAPFRE, we play our part in sustainable development, committed to the UN Global Compact and 2030 Agenda Sustainable Development Goals (SDG).

Read the full article here

Other related news

Dedicated to sustainability and driving decarbonization, MAPFRE recently announced a strategic alliance with Iberdrola to invest together in renewable energy in Spain.