UNIQA to increase Green investments to at least EUR 1 billion over the next 5 years

14 December 2020 —
Austrian insurer UNIQA announced the ESG (environmental, social and corporate governance) becomes a core element of its new strategy. Thus, as part of its new corporate strategy "UNIQA 3.0 - Seeding the Future", UNIQA informed is doubling down on its efforts to reach new goals in climate protection and sustainability.

"For us, sustainable business is a central and absolutely critical part of our corporate orientation for success", comments Rene KNAPP, Chief HR & Brand Officer, on the role of sustainability at UNIQA.

The insurer mentioned the 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 EUR1 billion by 2025.

"We will work to continually reduce our direct emissions in the fight against climate change. As part of our financial assessments we will introduce indirect CO2 monitoring in order to advance the reduction of CO2 emissions of the companies we invest in," explains Andreas RAUTER, Head of Sustainability & Public Affairs.

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.