Gjensidige’s sustainability targets focus on three areas: a safer society, reduced carbon intensity and socially responsible investments. Some of the targets support more than one focus area. For example, our work on damage prevention contributes towards both a safer society and reduced carbon intensity by reducing the number of losses.
A safer society
The most important thing we can do to contribute to a safer society is to work on damage prevention activities. Sustainable products shall reflect customer needs, and we shall use our know-how and expertise to put the right price on insurable risks. We shall be a problem-solver that provides our customers with relevant services. We shall utilise the damage prevention opportunities that technology and digitalisation present. Insurance is very important to society and therefore subject to strict regulation. Good corporate governance is decisive to achieving our goals.
We need committed employees to be able to run an efficient business and achieve our goals. Taking social responsibility and supporting underprivileged people in different ways are important ways of creating social commitment and a meaningful workplace.
Reducing carbon intensity
We have ambitious goals of reducing our carbon intensity – meaning greenhouse gas emissions relative to earned premiums – for both our own operations and claims settlements.
For our own operations, our ambition is to be climate neutral by 2030.
Our most important measure to reduce carbonintensity is damage prevention,as the climate footprint of an accident that doesn’t happen is zero.. When a damage has occurred, our greatest opportunity to reduce carbon intensity is to motivate customers and suppliers to make more environmentally friendly choices about claims payments. We see great opportunities for encouraging more reuse, and promoting the circular economy. We will contribute to this in the way we design our products, and through collaboration with suppliers and other partners. Using the resources where they generate the greatest effect is essential, which is why we implement climate accounting as the basis for decisions going forward.
Socially responsible investments
Gjensidige shall help to ensure that the transition to a zero emission-society is a smooth as possible. Our investments shall be in accordance with the Board’s ESG policy (our policy for sustainable operations, of which investments are a part). Furthermore, the investments shall comply with the company’s SRI-policy and strategy to ensure that the investments are in accordance with Gjensidige’s ethical profile, and as far as possible in accordance with the UN Principles for Responsible Investments (PRI).
Read more about our work in ‘Gjensidige’s business model’ in the Annual report 2019