MAPFRE to refrain from investing in coal, gas and oil companies

Written by Adam Cadle

11/03/2022

MAPFRE is to refrain from investing in coal, gas and oil companies that are not committed to an energy transition plan that limits global warming to around 1.5⁰C.

Revealing its new Sustainability Plan that will accompany the business strategy for the next three years, MAPFRE said its other objectives include extending by 2024 the carbon neutrality already achieved in Spain and Portugal to the main MAPFRE countries around the world, achieving global neutrality by 2030; continuing with inclusive labour policies so that people with disabilities make up at least 3.5% of the company’s workforce; and granting sustainability approval to all preferred providers in homeowners, automobile, health and procurement in MAPFRE’s main markets.

Also detailing its business strategy today, MAPFRE said it aims to maintain its solvency ratio at a level of 200%, with a mergin of tolerance of approximately 25 percentage points. In addition, it is targeting a payout ratio of more than 50% and a debt ratio of 23 to 25%.

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