MAPFRE Malta is joining forces with a number of Maltese business leaders as part of the Malta ESG Alliance, with the first aim being that of putting forward a climate change initiative.
MAPFRE is one of 13 business organisations that have come together to announce the launch of Malta ESG Alliance (MESGA) – a private sector initiative to tackle local environmental, social and governance priorities.
CFO and acting CEO James Mallia was present at the launch featuring all founding members, CEOs and top representatives. The Alliance members are being supported by David Xuereb and consultancy firm EY Malta.
The founding members aim to attract other committed members from all economic sectors to join such an alliance, by acting as credible leaders and acting on sustainable matters first hand.
The first ESG theme chosen is that of climate change and decarbonisation.
During the launch, Mallia explained how through its own environmental policy, the MAPFRE Group assumes a firm commitment to pollution prevention, environmental conservation and the preservation of biodiversity, the promotion of energy efficiency and climate change management.
Firm commitment to pollution prevention
He said MAPFRE implemented its environmental actions according to guidelines defined in the triple Integrated Environmental, Energy and Carbon Footprint Management System (SIGMAYE), in accordance with ISO international standards.
At MAPFRE, both in Malta and at group level, waste management protocols are implemented to ensure that the treatment, storage and removal of waste is being done properly. A new electric vehicle insurance policy has been introduced to promote a greener environment. Through their remote working hybrid model, they are also hitting multiple targets due to saving on travel costs and significantly reducing their carbon footprint.
Along with other decarbonisation projects by Alliance members, the private sector is taking steps to contribute to a more sustainable and less carbon-intensive future.
As part of this initiative, MAPFRE Middlesea is introducing renewable energy sources via the installation of a PV system in the region of 180 panels of around 400W each, which will generate around 100MWh of electricity annually. Carbon footprint will be reduced by 40 tons of CO2 annually.
More information on MAPFRE sustainability initiatives can be found on www.mapfre.com.mt/about-us/mapfre-middlesea/sustainability/.