MAPFRE joins NZAOA

Written by Adam Cadle

12/01/2023

MAPFRE has signed on to the UN-convened Net Zero Asset Owner Alliance (NZAOA) with the aim of transitioning its investment portfolios to net-zero Greenhouse Gas (GHG) emissions and becoming a Net-Zero company by 2050.

In 2022, the insurer developed its own tool for the group’s asset manager to analyse and assess the risks associated with climate change in its investments. This enabled the company to contribute to the reduction of more than a million tons of CO2 emissions associated with its investments.

MAPFRE includes joining the NZAOA in its Sustainability Plan 2022-2024, with which it aims to make progress on strategic objectives such as rating 90% of its investment portfolio with ESG criteria at the global level by 2024, as well as neutralising the company’s carbon footprint by 2030, and not investing or insuring carbon, has, or oil companies that don’t have an energy transition plan.

“It’s another step forward in our commitment to accelerating the energy transition and making progress on the fight against climate change,” MAPFRE CEO Antonio Huertas said.

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