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European Climate Pact

Overview

Location

Spain

Sector

Banking, Financial and Insurance Services

Organisation type
Business

Company Information

Mapfre is a multinational group that is operating in the insurance and reinsurance sectors. Headquarter is in Madrid, Spain. In 2021, the company obtained consolidated earnings exceeding 27.2 billion Euros. Mapfre has more than 36,000 employees.*

*Source

Our progress towards decarbonization

 

GHG Emissions

Our actions – the Pathway

  • MAPFRE has a target to reduce absolute scopes 1, 2 and 3 CO2e emissions 50% by 2030 from a base year of 2019. This is a year-on-year reduction rate of 4.5% over the next 9 years

Pledge: Have a short-medium term GHG emissions reduction target (scope 1+2) with a 2.1% year-on-year reduction at a minimum

MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have an internal price on carbon 
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 
  • Take action to align our portfolio to a 1.5°C world
  • Assess if  clients/investees’ business strategies are aligned to a well below 2-degree world
  • Have an exclusion policy to phase out all fossil fuels-related industries and activities in our portfolios by no later than 2030
  • Have an exclusion policy to phase out all coal-related industries and activities in our portfolios by no later than 2030

MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

 

Governance & Strategy

North Star

  • MAPFRE have a publicly available 1.5°C aligned low-carbon transition plan

MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

 

Buildings

Our actions – the Pathway

  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in buildings

MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

 

Value chain engagement

Our actions – the Pathway

  • Have an ongoing and transparent dialogue with our value chain around climate-related issues

MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022