Within the framework of the new Group strategy evolve28, sustainability has been defined as one of the five strategic Group programmes. We are consistently pursuing our sustainability programme, which we implemented in 2023. In the context of evolve28, we are strengthening sustainability as a core, integral part of our business strategy.
For VIG sustainability means creating economic value today without doing so at the expense of tomorrow. In addition to the traditional environmental, social and governance aspects, economic efficiency and a profitable business model remain at the core of all efforts. The Group-wide VIG sustainability programme was developed in a collaborative process with the VIG insurance companies and is therefore well established within the Group. Together the six spheres of impact were defined. In this context “asset management”, “underwriting” and “operations” primarily have an ecological focus, while the spheres of impact “employees”, “customers” and “society” primarily address social aspects.
Sustainability programme
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Asset management
VIG’s investment decisions contribute to the climate transition. By 2050 the greenhouse gas emissions from selected investment portfolios shall reach net zero. Measures such as responsible investment, the application of exclusion criteria, an engagement approach and an increase in the proportion of green investments serve this purpose.
Underwriting
Greenhouse gas emissions in the corporate underwriting portfolio are also to be reduced to net zero by 2050. Accordingly, risks associated with the energy transition are also hedged. In addition, as part of its engagement activities VIG supports companies and helps customers to improve their sustainability performance and better adapt to climate change.
Operations
The emissions from own operations and business travel shall reach net zero by 2050. We envisage achieving these targets through conscious and reduced energy consumption, the increased use of renewable energies and by travelling for business less frequently and in more environmentally friendly ways.
Employees
VIG aspires to be an attractive employer and supports employees, diversity and equal opportunity. As part of the sustainability programme many of the Group companies already measure their attractiveness as employers using the Trust Index™ from Great Place to Work®.
Customers
VIG places a high value on customer satisfaction and established its own competence center for customer experience in 2023 in order to understand their needs even better. It also wants to help close existing insurance gaps, for example for under-served or socially disadvantaged customers.
Society
VIG promotes risk literacy. It supports people in its markets in making well-informed decisions, taking responsibility for protecting themselves against risks and increasing their socio-economic resilience. Furthermore, it promotes the commitment of its employees for causes that benefit society.
Asset management
VIG’s investment decisions contribute to the climate transition. By 2050 the greenhouse gas emissions from selected investment portfolios shall reach net zero. Measures such as responsible investment, the application of exclusion criteria, an engagement approach and an increase in the proportion of green investments serve this purpose.
Underwriting
Greenhouse gas emissions in the corporate underwriting portfolio are also to be reduced to net zero by 2050. Accordingly, risks associated with the energy transition are also hedged. In addition, as part of its engagement activities VIG supports companies and helps customers to improve their sustainability performance and better adapt to climate change.
Operations
The emissions from own operations and business travel shall reach net zero by 2050. We envisage achieving these targets through conscious and reduced energy consumption, the increased use of renewable energies and by travelling for business less frequently and in more environmentally friendly ways.
Employees
VIG aspires to be an attractive employer and supports employees, diversity and equal opportunity. As part of the sustainability programme many of the Group companies already measure their attractiveness as employers using the Trust Index™ from Great Place to Work®.
Customers
VIG places a high value on customer satisfaction and established its own competence center for customer experience in 2023 in order to understand their needs even better. It also wants to help close existing insurance gaps, for example for under-served or socially disadvantaged customers.
Society
VIG promotes risk literacy. It supports people in its markets in making well-informed decisions, taking responsibility for protecting themselves against risks and increasing their socio-economic resilience. Furthermore, it promotes the commitment of its employees for causes that benefit society.