Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Inclusion
• Corporate Governance

Environmental Achievements

• Optimizing paper usage and promoting paperless operations
• Insuring/financing manufacturing companies with reduced carbon footprints
• Extending finance and insurance services to green companies

Social Achievements

• Launched 'Nibedita', a comprehensive insurance scheme for women
• Launched 'Shudin', a health insurance program for garment workers
• Partnered with the Bangladesh government on the 'Shasthyo Suroksha Karmasuchi' (SSK) universal health scheme
• Launched CSR campaign to improve road safety and traffic awareness in Dhaka

Governance Achievements

• Achieved AAA rating for the second consecutive year
• Received numerous national and international awards for corporate governance and reporting excellence
• Implemented robust corporate governance practices and training programs for board members and senior management

Climate Goals & Targets

Environmental Challenges

• Macro-economic challenges in the Bangladeshi insurance industry
• Political instability affecting transport, exports, and investments
• Low insurance awareness and penetration in the population
• Escalating healthcare costs
• Risks associated with natural disasters and climate change

Mitigation Strategies

• Launching innovative products to widen the market and deepen insurance penetration
• Leveraging technology-driven solutions to minimize input and claim settlement time frames
• Decentralizing operations to empower employees
• Developing specialized and complex risk cover through consortia
• Engaging in scientific actuarial practices and simple contract terms
• Maintaining almost 100% claims settlement ratio
• Forging joint associations with partners to offer bundled services
• Investing in human resource capabilities and productivity augmentation initiatives
• Embracing sustainable practices and leveraging technology to enhance customer convenience and environmental sustenance

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Sustainable Products & Innovation

• Nibedita (women's insurance)
• Shudin (garment worker insurance)
• Probashi (migrant worker insurance)
• Weather Index Based Crop Insurance

Awards & Recognition

• ICAB National Awards
• ICMAB Best Corporate Award
• ICSB Corporate Governance Excellence Award
• SAFA Best Presented Accounts Award
• International Quality Crown Award
• The BIZZ Award
• The Diamond Eye Award
• Platinum Technology Award
• International Star Award
• World Finance Award
• IFM Award
• International ARC Award

Environmental Metrics

ESG Focus Areas

• Inclusive insurance
• Sustainability
• Corporate Governance
• Gender Equality
• Climate Action

Environmental Achievements

• Minimized carbon footprint by focusing on digital insurance and conservative use of resources.
• Implemented green office policy.

Social Achievements

• Launched Nibedita, a comprehensive insurance scheme for women.
• Partnered with the Ministry of Health and Family Welfare for the Shasthyo Shuroksha Karmasuchi (SSK) project, providing health insurance to the rural poor.
• Implemented weather index-based agricultural insurance, benefiting farmers.
• Launched livestock insurance scheme.
• Sponsored 40 children's education at Jaago Foundation.
• Contributed to Apasen school for specially-abled children.
• Organized insurance awareness programs.

Governance Achievements

• Maintained AAA credit rating for six consecutive years.
• Received ICSB Gold Award for corporate governance excellence for five consecutive years.
• Established robust internal control and compliance framework.
• Published first UN SDG report in Bangladesh.
• Appointed an Independent Director as Chairman of the Board.

Climate Goals & Targets

Environmental Challenges

• Intensifying domestic competition.
• Escalating regional protectionism.
• Economic deceleration in neighboring economies.
• Lack of insurance literacy and awareness.
• High out-of-pocket healthcare spends.

Mitigation Strategies

• Focus on innovation and product development.
• Expansion of digital insurance.
• Public-private partnerships for awareness and outreach.
• Cost optimization and efficiency improvements.
• Development of simple, easy-to-understand products.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Floods
• Cyclones

Opportunities

• Development of climate-resilient products like agri-insurance.

UN Sustainable Development Goals

• SDG 1: No Poverty
• SDG 3: Good Health and Well-being
• SDG 4: Quality Education
• SDG 5: Gender Equality
• SDG 6: Clean Water and Sanitation
• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation and Infrastructure
• SDG 10: Reduced Inequalities
• SDG 12: Responsible Consumption and Production
• SDG 16: Peace, Justice and Strong Institutions

Green Delta Insurance aligns its business activities with these SDGs through various initiatives and programs.

Sustainable Products & Innovation

• Nibedita
• Eco-plus
• Cattle Insurance

Awards & Recognition

• AAA credit rating (6 consecutive years)
• ICSB Gold Award (5 consecutive years)
• ICMAB Best Corporate Award (3 consecutive years)
• MetLife Foundation Inclusion Plus Award
• Public Trust Award from CII UK

Environmental Metrics

ESG Focus Areas

• Climate change
• Corporate Social Responsibility
• Governance

Environmental Achievements

• Not disclosed

Social Achievements

• Commitment to equal opportunities for all employees, irrespective of gender, race, nationality, ethnic origin, or religion.
• Initiated various projects and programs as part of corporate social responsibility, sponsoring sports and cultural activities.

Governance Achievements

• Compliance with the financial reporting framework as per BSEC Notification No. SEC/CMRRCD/2006-158/207/Admin/80 dated 3 June 2018.
• Protection of minority shareholders from abusive actions.

Climate Goals & Targets

Environmental Challenges

• Global economic slowdown due to the ongoing pandemic (especially in China), the Russia-Ukraine war, and rising inflation.
• Subsequent spike in food grain and gasoline prices in Bangladesh, causing public resentment and impacting political stability.
• Diminishing foreign exchange reserves and balance-of-payment crisis in Bangladesh.

Mitigation Strategies

• Bangladesh government's acquisition of a support package from the IMF, including the Extended Credit Facility (ECF), Extended Fund Facility (EFF), and Resilience and Sustainability Facility (RSF).
• Allowing some national banks to establish Vostro accounts for settling payments in local currency to preserve foreign currency.
• Proactive measures by the government to seek international developmental finance support for post-COVID economic stability and recovery.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: IFRS

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• AAA rating (long-term) and ST-1 (short-term) by Credit Rating Agency of Bangladesh Limited for 9 consecutive years