In our business, we provide protection for people against risks every day – often over a long period of time. We record and evaluate these risks over the long term. Sustainable thinking and action are therefore part of our daily routine. In order to avoid long-term risks, we take account of environmental and social standards, as well as aspects of responsible corporate governance as we transact our business and manage our investments.
With our project “Corporate Responsibility (CR) in Business”, we strive to maintain sustainability criteria along the entire value chain. Here, we focus on the content of the Principles for Sustainable Insurance (PSI). This is a framework from the United Nations Environment Programme to promote the integration of sustainability criteria in the insurance industry.
We pursue a sustainable investment strategy so that we can comply with our commitments to our customers over the long term. The framework for this is provided by the Principles for Responsible Investment (PRI) supported by the United Nations, which we signed in the year 2006.
Furthermore, we made a commitment to complying with the ten principles of the UN Global Compact in conjunction with our parent company Munich Re and. We expect our service providers to commit to similar compliance with these principles. Visionary thinking and actions are consequently an integral part of the approach and strategy of the ERGO Group. We have defined clear targets along our four key areas of action in the sphere of sustainability – Business, Employees, Environment and Society – we pursue these targets by implementing concrete measures.
Our objective is to confront global challenges in a future-oriented approach – identifying the risks involved but also grasping the opportunities they present. For example, the aging of society and the associated burden being placed on social security systems represent challenges for insurers as well as opportunities. The requirements of our customers are increasingly changing. That is particularly the case in the provision of annuities and healthcare where innovative insurance solutions are especially needed. Conversely, climate change and damage caused by climate-related natural catastrophes present a particular challenge to property insurance. We therefore want to make a contribution to climate protection and are developing solutions for our environmentally aware customers, for example with insurance products for renewable technologies.
Targets and measures