Al Wathba National Insurance Company (AWNIC)

Climate Impact & Sustainability Data (2019, 2023)

Reporting Period: 2019

Environmental Metrics

Total Energy Consumption:3,969,294 kwh (2019)

Water Consumption:11,251 m3 (2019)

ESG Focus Areas

Climate Risk & Opportunities
Digitalization & Paperless Insurance
Data Privacy & Security
Financial Market Stability
Customer Experience
Health & Safety
Governance & Risk Management
Green Products / Sustainable Solutions
Employee Engagement
Diversity & Inclusion
Training & Development

Environmental Achievements

27% saving in water & electricity expenses 2019 vs 2018
27% reduction in water usage and 3% drop in electricity consumption
Insured 90+ Eco-friendly vehicles during 2019
Significant reduction in printing & stationery costs due to 'AWNIC Goes Green' initiative

Social Achievements

Launched mobile application in 2019 improving customer journey
Organized various employee engagement programs (potlucks, celebrations, tournaments, etc.)
Provided trainings for employees (AML/CFT, Anti-Bribery & Corruption, Cybersecurity, etc.)
Initiatives contributing towards treatment and rehabilitation of children with Autism and people with determination

Governance Achievements

Board formally adopted ESG policy and framework
Established a steering committee to report on progress with the alignment with sustainable development goals
Honored by Securities & Commodities Authority as one of the outstanding companies in Corporate Governance compliance

Climate Goals & Targets

Long-term Goals:

ESG Dashboard integration with existing financial dashboard
Increased focus on stakeholder training & campaigns
Enhancing our existing risk management framework through integration of ESG factors, leverage technology expertise and close tracking of ESG KPI’s dashboard
Schedule employee trainings focusing on sustainability related risk management program

Medium-term Goals:

ISO Corporate Carbon Footprint certification
Switching to renewal energy sources
Certified ICV Score - 53.43%

Short-term Goals:

Monitor use of natural resources and set corporate targets on reducing CO2 emissions and optimizing asset performance
Update our supply chain questionnaire to include environmental issues
Introduce self-assessment questionnaire for our suppliers covering compliance requirements, sustainability and anti-bribery & corruption
Encouraging women participation in the Board

Environmental Challenges

Climate change risks and its implications on business operations
Cyber security, data privacy & protection and business continuity risks associated with digital transformation

Mitigation Strategies

Climate risk improvement recommendations to customers
Implementation of mature and robust security management systems
Annual IT audit via external consultant
Business Continuity & Disaster recovery design

Supply Chain Management

Responsible Procurement

Code of conduct
Detailed request for proposal covering scope, social & governance issues and conflict of interest
Minimum three quotations for major Capex and Opex

Climate-Related Risks & Opportunities

Opportunities

Development of green vehicle insurance products

Reporting Standards

Frameworks Used: ADX ESG Disclosure Guidance, UN Environment’s Principles for Sustainable Insurance Initiative (PSI), Global Reporting Initiative (GRI)

Sustainable Products & Innovation

Eco-friendly vehicle insurance

Awards & Recognition

Excellence in Digital transformation & Smart Services 2018 & 2019 (UAE Insurance Authority)
Mid-Size Direct Insurer of the Year United Arab Emirates 2019 (Insurance Asia Awards)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:230.90 tCO2e (2023)

Scope 1 Emissions:41.66 tCO2e (2023)

Scope 2 Emissions:54.72 tCO2e (2023)

Scope 3 Emissions:134.52 tCO2e (2023)

Total Energy Consumption:5,378,858 kWh (2023)

Water Consumption:14,916.66 Liters (2023)

Waste Generated:8,520 kgs (2023)