MAPFRE to reduce emissions in group investment portfolio by 43% by 2030

Written by Adam Cadle

15/01/2024

MAPFRE is to reduce the intensity of greenhouse gas (scope 1 and 2) emissions by 43% in the group’s investment portfolio by 2030.

Furthermore, MAPFRE will boost investments in solutions facilitating the transition to a low-carbon economy, exemplified by the MAPFRE Renewable Energies II Fund, FCR. This European project, recently launched, focuses on biomethane investments. Beyond mitigating environmental impact, it actively contributes to improving social and environmental conditions in the communities it invests in.

MAPFRE said it will also “engage in active dialogue” with a minimum of 20 major CO2e emitters within MAPFRE’s investment portfolio, encompassing listed equities and issuers of corporate bonds. This commitment also entails active involvement in consultative working groups focused on the Alliance’s financial transition and the working group set up to foster engagement.

The insurer’s Sustainability Plan 2022-2024 outlines strategic objectives, such as rating 90% of its global investment portfolio ESG criteria by 2024. The plan also aims to achieve carbon neutrality for the company by 2030 and commits to not investing in or insuring coal, gas, and oil companies without an energy transition plan.

Related Articles