Company aligns investment policies with its commitment to responsible social action
MAPFRE has joined the global network of signatories to the Principles of Responsible Investment (PRI)
PRI is an initiative in collaboration with the UN Global Compact, which aims to understand the impact of environmental, social and governmental issues on investment and encourages signatories to integrate these issues into their decision-making.
The move by MAPFRE is wholly aligned with its long-standing commitment to social and environmental sustainability – commitments which are deeply embedded in the DNA of the company. MAPFRE has been a signatory to the UN Global Compact since 2004, and as an insurance company, it is also adhering to the principles of sustainable insurance developed by the United Nations.
Antonio Huertas, President of MAPFRE said,
“As we strengthen and develop our investment and asset management business we aim to align the interests of our investors with the wider objectives of society, without forgetting that those actions are In line with our fiduciary role of always acting in its best interests in the long term."
The six Principles of Responsible Investment were developed by investors and backed by the UN. There are over 1,400 signatories operating in more than 50 countries and representing assets worth $59 trillion. (see notes to editors)
In line with its long-standing support for the UN principles of sustainable insurance, the Group has decided to gradually align its investment policies. Recently, its asset management business, MAPFRE AM launched a fund that invests exclusively in companies with good corporate governance. It did so having published academic research that showed that investing in socially responsible companies with good corporate governance is more profitable in the long term.
Notes to Editors
1.The six Principle for Responsible Investment (PRI) are:
i.We will incorporate ESG issues into investment analysis and decision-making processes.
ii.We will be active owners and incorporate ESG issues into our ownership policies and practices.
iii.We will seek appropriate disclosure on ESG issues by the entities in which we invest.
iv.We will promote acceptance and implementation of the Principles within the investment industry.
v.We will work together to enhance our effectiveness in implementing the Principles.
vi.We will each report on our activities and progress towards implementing the Principles.
2.MAPFRE
MAPFRE is a global insurer, headquartered in Madrid, with presence in the five continents. It is the first
multinational insurance group in Latin America and one of the 10 largest European groups by
premium volume. MAPFRE has approximately 37,000 employees and 37 million customers worldwide. In 2016, its revenues exceeded 27,000 million euros and net profit stood at 775 million euros.
For further information:
UK
John Morgan
Fortuna AMC
Mob: +44 7769 262272
Email: john@fortunaamc.co.uk
Spain
Juan Frances Escudero
MAPFRE
Tel: 91 581 91 68, 91 581 87 14
juanfrances@MAPFRE.com