Climate Change Data

The Company for Cooperative Insurance (Tawuniya)

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:5636.6 tCO2e/year
Scope 1 Emissions:1,850.1 tCO2e/year
Scope 2 Emissions:3,786.5 tCO2e/year
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:6,187,415 kWh/year
Water Consumption:11,600 m3/year
Waste Generated:286,000 kg/year (solid waste)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Diversity & Inclusion
  • Corporate Governance

Environmental Achievements

  • 85%+ virtualization of servers, resulting in a 900,000 kWh consumption reduction
  • 10% of used water captured for plants and cleaning
  • Reduced CO2e total emissions to 5,637 tons

Social Achievements

  • Launched and grew the Vitality Loyalty Program, attracting over 500,000 subscribers
  • Established a new Employee Experience and Engagement Department
  • Increased female employees in the regular workforce to 49%

Governance Achievements

  • Improved MSCI ESG rating from CCC to BBB
  • Became a member of the UN Principles for Sustainable Insurance (PSI)
  • Integrated ESG risks into the risk management framework

Climate Goals & Targets

Long-term Goals:
  • Net-zero emissions (target year 2060)
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Limited availability of recycling service providers
  • Data quality improvement needed in the value chain for Scope 3 emissions
  • Water scarcity in the MENA region
Mitigation Strategies
  • Implemented an intelligent IT system to monitor and adjust energy and water consumption
  • Launched an environmental education campaign for employees
  • Implemented sensor-based faucets and reduced car washes to conserve water

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Pre-qualification process for suppliers
  • Consideration of quality, suitability, payment terms, and delivery time in vendor selection
  • Virtual meetings with vendors to minimize travel

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Extreme heat
  • Sandstorms
  • Windstorms
  • Fires
  • Heavy rains
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Providing insurance products to green transformation players

Reporting Standards

Frameworks Used: GRI Standards 2021

Certifications: ISO 27001 (Information Security)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • SDG 3: Good Health and Well-being
  • SDG 5: Gender Equality
  • SDG 8: Decent Work and Economic Growth
  • SDG 9: Industry, Innovation and Infrastructure
  • SDG 11: Sustainable Cities and Communities
  • SDG 13: Climate Action
  • SDG 17: Partnerships for the Goals

Tawuniya's initiatives in health programs, gender equality, employee development, innovation, community engagement, environmental protection, and partnerships align with these SDGs.

Sustainable Products & Innovation

  • Drive program
  • Vitality program
  • Revamped home insurance product
  • Extended warranty insurance

Awards & Recognition

  • Best Population Health Management Award
  • Best Value Based Healthcare Payment Model Strategy Award
  • Digital Experience of the Year Asian Experience Awards
  • Best Patient Coordination Award
  • General Insurer of the Year / Customer Experience Award
  • Outstanding Organization Award