Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Initiated work on identifying operational emissions and developing reduction initiatives (to continue in 2024)
• Achieved LEED® GOLD certifications for offices in Brazil
• Planted over 3,000 trees in reforestation programs across several countries
• Reduced paper use through digitalization
• Implemented plastic reduction initiatives in several countries

Social Achievements

• Launched Talent Acquisition Hub program for internal recruitment
• Created a tailored Executive Leadership Program
• Ranked among top places to work in several countries
• Received EDGE Asses level certification in Brazil
• Created Regional Committee for Diversity, Equity, Inclusion, and Belonging (DEIB)
• Employees volunteered over 4,600 hours
• Provided assistance to communities affected by natural disasters
• Implemented the “NomadeZS” program to promote work-life balance
• Increased internal development opportunities (30% in Argentina, 57% in Chile)

Governance Achievements

• Updated Anti-Bribery and Corruption Policy
• Provided 100% of employees with training on Code of Conduct, ethics, anti-bribery, anti-corruption, and anti-money laundering
• Implemented mechanisms to address integrity concerns (Zurich Ethics Line)
• Ensured compliance with legal and regulatory requirements across all countries
• Implemented data protection and cybersecurity measures
• Incorporated sustainability risk assessments into operations

Climate Goals & Targets

Environmental Challenges

• High inflation rates in Latin America impacting operating expenses
• Extreme weather events increasing reinsurance costs
• Need to improve operational efficiency
• Fragmented insurance market in Latin America
• Socioeconomic considerations in Latin America
• Cyber-related attacks
• Sustainability risks (human rights violations, arms trafficking, dam construction, oil, gas, and mining sectors)

Mitigation Strategies

• Three-year strategic plan focusing on data governance, customer accessibility, digitalization, and sustainability
• Risk management framework (3LoD model) for identifying, evaluating, and preventing risks
• Business Continuity Plan (BCP) for crisis management
• Sustainability risk assessments at regional and national levels
• Implementation of ESG standards in investments
• Proactive communication and assistance to customers during extreme weather events
• Development of alternative sourcing strategies
• Implementation of various initiatives to improve operational efficiency and reduce costs

Supply Chain Management

Supplier Audits: 35 audits in Mexico in 2023; 100% of suppliers in Brazil evaluated according to social criteria; 38% of key suppliers in Chile evaluated

Responsible Procurement

• Regional Policy on Purchases and Management
• Zurich Group’s Code of Conduct
• Sustainability clauses in supplier agreements
• Due diligence processes for supplier background checks
• Sustainability criteria in supplier selection

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards (2021), Principles for Sustainable Insurance (PSI)

Certifications: LEED® GOLD (Brazil offices), EDGE Asses level (Brazil), AENOR’s Zero Waste (Spain)

Sustainable Products & Innovation

• Complementary Health Insurance (Chile)
• Protected Card Insurance (Brazil)
• Flex Home Insurance (Uruguay)
• Micro-insurance products (Mexico)

Awards & Recognition

• Great Place to Work Certification (Brazil, Mexico)
• Employers for Youth (EFY) (Chile)
• Top Companies Stamp (Mexico)