- Green investments are to be increased to at least € 1 billion over the next 5 years
- Own Paris climate target pathway set for the entire investment portfolio
- Climate neutrality targeted for 2040
- Product portfolio to become greener
As part of its new corporate strategy “UNIQA 3.0 – Seeding the Future”, UNIQA is doubling down on its efforts to reach new goals in climate protection and sustainability. UNIQA already took action at the beginning of 2019 when it announced and committed to its exit from the coal business. Sustainability – or ESG (environmental, social and corporate governance) as it is known as in the financial industry – is at the core of the new corporate strategy.
UNIQA’s sustainability strategy is built on 5 pillars:
- An ESG-compliant investment policy that supports the Austrian and European pathways to climate neutrality in 2040 and 2050 respectively
- Products that address sustainability
- An exemplary operational management with attention to environmental and social objectives
- Transparent and ongoing reporting on progress in the area of sustainability, and a willingness to undergo rating processes
- A close and cooperative relationship with stakeholders and associations to promote sustainability
Sustainable investment policy
As part of its investment policy, UNIQA is working on the ongoing improvement of the ESG portfolio scoring system that has been introduced in order to consistently continue on the pathway to climate neutrality. In doing so UNIQA relies in particular on international cooperation with recognised associations, unions and societies, and has firmly established the underlying principles of responsible investment in its own guidelines. The Paris climate goals are continuously integrated into the investment process in order to support the European and national climate goals. In order to accompany the real economy en route to truly resource-saving management, UNIQA is further expanding the EU taxonomy-compliant green investments with new investments to the value of at least € 1 billion by 2025.
Green product policy
Regarding own products, UNIQA plans to expand the existing portfolio with additional ecological investment options and push sustainable retirement plans. In addition, UNIQA wishes to motivate customers to adopt more tenable lifestyles and economies and in doing so gradually offer them a completely sustainable product range. As a first step in this direction, UNIQA is focusing on supplementary product modules (e.g. e-Mobility, low-emission households and business operations) and improved consulting quality with regard to resource efficiency and CO2 reduction.
Exemplary operational management
UNIQA has committed itself to the corporate group goal of continuously reducing its own CO2 footprint so that its own operations will be climate-neutral by 2040 at the latest. Particular attention is paid to the ongoing work of making the fleet vehicles and business trips undertaken greener. In Austria, the average CO2 emissions of company cars are to be reduced from the current already exemplary 99g CO2/km, to 80g CO2/km by 2025. In addition, photovoltaic installations, the improvement of heating/cooling systems, the introduction of LED lighting as well as general energy monitoring are all on the agenda. In the future, UNIQA will also pay close attention to international certifications, standards and sustainable operational management among its suppliers.
Transparent and ongoing reporting
The progress UNIQA is making on the path to greater sustainability and climate-neutral operations is fully transparent and disclosed in regularly published progress reports. In active discourse with ESG rating agencies, UNIQA strives to continuously improve its ESG rating through further reporting processes.
Memberships and cooperations
In order to join forces for important ecological and social objectives, UNIQA aims for membership of the UN Global Compact (UNGC), the Principles for Responsible Investments (UN EP-FI) and the Principles for Sustainable Insurance (UN EP-FI) to further contribute to the mutual exchange of information and strategies. In order to consolidate and coordinate positions, objectives and programs, UNIQA will also continue the discourse with representatives of the public (ministries, municipalities, supervisory authorities, NGOs, etc.), as well as with its own employees and investors in the future.
UNIQA Group
The UNIQA Group is one of the leading insurance groups for its core markets of Austria and Central and Eastern Europe (CEE). Around 21,300 employees and exclusive sales partners serve around 15.5 million customers in 18 countries. UNIQA is the second-largest insurance group in Austria with a market share of more than 21 per cent. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Kosovo, Montenegro, Northern Macedonia, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. The UNIQA Group also includes insurance companies in Switzerland and Liechtenstein.