In honour of World Environment Day, MAPFRE has launched an ambitious decarbonisation plan spanning across its operations in 25 countries.
The leading global insurer is steadfast in its commitment to lower its carbon footprint through increased use of renewables and the promotion of sustainable mobility. Notably, business travel-associated footprint has shrunk by a substantial 68%, with particularly significant reductions in countries like Honduras and Paraguay.
MAPFRE’s commitment to sustainable transportation is also evident in its target of achieving a fully hybrid and electric vehicle fleet by 2030. Currently, 65% of the electricity procured by the company is assured by certificates of guarantee of 100% renewable origin. Moreover, the organisation’s consumption of purchased electricity has seen a decrease of 16 Gwh, equating to a 14% reduction.
The firm has also installed 4,700 solar panels in Spain, which has enabled an annual reduction of 3 Gwh at the company’s headquarters. Through these efforts and more, the group intends to slash its operational carbon footprint by half and attain carbon neutrality across all its operational countries by 2030.
MAPFRE’s drive towards a greener future has produced remarkable results. The company has exceeded its self-set targets for reducing the carbon footprint of its activities. The overall carbon footprint of the company is now 26% lower than its 2019 levels, surpassing the goal of a 3.5% reduction set for 2022.
This success can be attributed to the company’s dedicated efforts to decarbonise the economy. MAPFRE has embraced renewable energy sources, limited the use of fossil fuels and electricity, replaced conventional vehicles with hybrid or electric models, and minimised business travel and commuting by employees.
The Group’s direct actions to decrease its carbon footprint resonate with its overarching commitment to fighting climate change and promoting sustainability. They are on track to reach their public goals, which include a 50% reduction in operational carbon footprint by 2030 and achieving carbon neutrality in all their operational countries by 2030.
The use of green electricity purchasing contracts has also contributed to the reduction in the use of fossil fuels. The contracts are in place in several countries, including Spain, Germany, and Paraguay (100%), Portugal (99%), Brazil (70%), and Italy (50%). The firm plans to achieve 100% clean energy consumption by 2030.
MAPFRE has substantially reduced the carbon footprint linked to employee mobility by 29% since 2019. Its new travel policy, which encourages the use of sustainable transport and curtails unnecessary travel, has facilitated a 68% reduction in the carbon footprint from business travel.
In 2022, the company’s total energy consumption dropped by 12% due to hybrid work models, workspace optimisation, investment in energy efficiency, and upgrading automobile fleets to more efficient ECO engines. Moreover, the company’s installation of solar panels has significantly reduced its electricity consumption.
Headquartered in Spain, MAPFRE is a global insurer and leader in the Spanish market. The company’s influence extends to being the largest Spanish insurer globally, the top multinational insurance company in Latin America, and holding the sixth position in Europe’s non-life premium volume ranking. MAPFRE employs close to 32,500 professionals and serves 29 million clients worldwide.
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