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,” Mónica Zuleta, group head of sustainability at MAPFRE, said.
The fight against climate change is part of our objectives
“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 per cent by 2030, qualifying 90 per cent 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.”
MAPFRE continues to advance towards the decarbonisation 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 per cent 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 per cent compared to the same year.