Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Social Responsibility
• Governance
• Cybersecurity

Environmental Achievements

• Reduced energy consumption in operating properties by -1.5% compared to 2020 and in investment properties by -0.9%
• Reduced water consumption by -24.4% compared to 2020
• Recycled 38 tonnes of waste at the Montparnasse site
• Obtained BREEAM certification for Covéa’s Niort sites

Social Achievements

• Launched free home support services for Covid-19 hospitalized members
• Continued support of La Fondation des Femmes to combat violence against women
• Partnered with France Tutelle to support carers of vulnerable individuals
• Signed a new gender balance agreement aiming to increase women in managerial positions to 57% by 2023
• Implemented a new disability agreement aiming to hire 150 people with disabilities by 2023
• Offered 488 work/study contracts to young people

Governance Achievements

• Signed the UN Principles for Responsible Investment (PRI)
• Participated in the Biodiversity Impulsion Group (BIG) research program

Climate Goals & Targets

Environmental Challenges

• Rising costs of car repairs due to vehicle sophistication
• Increased frequency and severity of extreme weather events due to climate change
• Cybersecurity threats and attacks
• Mismatch between supply and demand for sustainable finance products

Mitigation Strategies

• Training 2,000 partner experts and mechanics annually to prioritize repairs over replacements
• Developing Coventéo and Covisiomap for climate risk management and better risk assessment
• Investing €200 million in digitization and IT security by 2024
• Promoting sustainable finance products and educating financial advisors

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Drought
• Hailstorms

Awards & Recognition

• Argus d’Or award for Fidélia Assistance

Environmental Metrics

ESG Focus Areas

• Climate change
• Social inclusion
• Governance
• Cybersecurity
• Sustainable finance

Environmental Achievements

• 3% reduction in greenhouse gas emissions across the scope of operating properties
• 45% of commercial properties obtained environmental certification
• €5 bn of green or sustainable investment
• 97% of assets under management subject to ESG analysis

Social Achievements

• Launched "Bien dans ma tête" program for mental health support
• Partnership with Fédération Française Handisport
• Donation to Protection Civile to aid Ukraine
• Support for Fondation des Femmes
• Sponsorship of My Human Kit

Governance Achievements

• Acquisition of PartnerRe
• Implementation of the "Covéa 2024 – Growing together" strategic plan
• Improved employee experience, ranked 17th best employer by Capital

Climate Goals & Targets

Environmental Challenges

• High inflation affecting overheads and claims costs
• Increased frequency and severity of extreme weather events
• Economic and geopolitical uncertainty
• Recruitment difficulties
• Cyber risk

Mitigation Strategies

• Acquisition of PartnerRe to absorb shocks and diversify risk
• Implementation of exceptional measures to help policyholders
• Investment in digital technology and AI to improve efficiency and customer service
• CyberSafe program to improve IT security
• ESG integration into investment decisions

Supply Chain Management

Responsible Procurement

• Sustainable procurement policy in relation to organizations employing people with disabilities and small businesses

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (hailstorms, storms, flooding, drought)

Sustainable Products & Innovation

• Insurance for electric bicycle and scooter batteries
• Cyber risk insurance solution for businesses

Awards & Recognition

• Capital "Best Employer 2023" award (17th place overall, 3rd in insurance)
• MMA and GMF won bronze award for life insurance self-care service at CX Paris 2022

Environmental Metrics

ESG Focus Areas

• Environment
• Risk prevention
• Equal opportunities
• Knowledge
• Local economies and communities

Environmental Achievements

• Reduced the Group’s emissions by 3% annually (across ESU operations) since 2019.
• Achieved a 21% saving on French central sites energy consumption in a single year (based on 2019 figures).
• More than 69,500 m2 of Covéa Immobilier’s operating property are BREEAM Refurbishment and fit out certified, and more than 76,000 m2 are BREEAM In-use certified.
• 17.6% of vehicle repairs included at least one used part (personal and light commercial vehicles less than five years old, eligible for repair and excluding weather events).

Social Achievements

• Contributed €5 million to its foundation to support sponsorship and general interest partnerships.
• The Covéa corporate foundation supports close to 50 partners in women’s rights, inclusion, and knowledge.
• 96 women employees volunteered to provide educational and career guidance to female high school students.
• 6.74% of the workforce was made up of people with disabilities in 2023. 53 people with disabilities were recruited during 2023.

Governance Achievements

• Strengthened its governance framework in sustainability with a new Sustainability Sponsors Committee.
• Directors participated in training on strategic and regulatory challenges relating to sustainability.
• Implemented a corruption prevention and detection programme, including an anti-corruption code of conduct and training.

Climate Goals & Targets

Environmental Challenges

• High number of significant weather-related events impacting claims experience.
• Rising average costs due to high inflation.
• Very competitive market and high inflation in the UK.
• High claims experience in the US.

Mitigation Strategies

• Implemented a plan to return to breakeven in the UK, including gradual withdrawal from loss-making businesses.
• Increased rates credited on flagship products to protect savings.
• Implemented energy consumption reduction strategies.
• Promoted sustainable repair options and limiting the environmental impact of claims.

Supply Chain Management

Responsible Procurement

• Overarching third-party supplier management strategy; CSR questionnaire for suppliers; purchases from sheltered employment sector.

Climate-Related Risks & Opportunities

Physical Risks

• Storms, drought, flooding, hail

Sustainable Products & Innovation

• Coverage for renewable energy installations; insurance for electric vehicles; services for shared childcare.

Awards & Recognition

• Forbes Magazine: 1st in the world in the insurance sector; Capital Magazine: 13th in the 500 best employers in France.