Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance
• Climate Change

Climate Goals & Targets

Environmental Challenges

• Sustainability risks (climate, environmental, and social risks)

Mitigation Strategies

• Integrated risk management within IRB's Internal Controls System and Risk Management Structure
• Incorporating ESG criteria into asset management, investment decisions, and product development
• Continuous improvement of ESG policy guidelines

Supply Chain Management

Responsible Procurement

• Inclusion of contractual clauses with service providers stipulating obligations related to ESG practices (prevention of slavery, child labor, sexual exploitation, environmental respect, diversity respect, anti-corruption)

Climate-Related Risks & Opportunities

Physical Risks

• frequent and severe bad weather
• long-term environmental changes

Transition Risks

• process of transition to a low carbon economy

Opportunities

• development of insurance products that promote positive impacts on the environment and consider the transition to a low carbon economy

Sustainable Products & Innovation

• insurance products that promote positive impacts on the environment and consider the transition to a low carbon economy

Environmental Metrics

ESG Focus Areas

• Climate change
• Environmental management
• Responsible investment
• Corporate governance
• Transparency and integrity
• Human capital management
• Value chain management
• Financial and insurance education
• Customer relationship and satisfaction
• Data privacy and information security
• Innovation

Environmental Achievements

• 20% reduction in total water consumption compared to 2022.
• 73% reduction in total energy consumption compared to 2022.

Social Achievements

• Inclusion in B3's iDiversa index.
• Launch of the internal campaign “IRB(Re) + Plural, we are equal and different”.

Governance Achievements

• Implementation of the Integrity Program.
• Strengthened corporate governance structure.
• First Investor Day held.

Climate Goals & Targets

Environmental Challenges

• Climate change impacts (severe weather events leading to increased claims).
• Cyberattacks.
• Business not meeting society's needs.
• Inadequate human capital.
• Environmental degradation.
• Water and/or energy scarcity.
• Pandemic outbreaks.
• Economic and financial imbalance.
• Technological/cultural obsolescence.
• Omitting relevant information.
• Relationship with emitters not using sustainable practices.
• Financing terrorism and money laundering.
• Fraud and corruption.

Mitigation Strategies

• Portfolio diversification by geography and business line.
• Compliance due diligence of business partners, suppliers, and employees.
• Technical specialization and high-performance training.
• Information Security Master Plan (PDSI).
• Specialization in traditional coverage and operation in consolidated market portfolios.
• Underwriting risks based on inspection reports.
• Limited exposure to pandemic coverage and adjusted prices.
• Continuous highly specialized technical training.
• Monitoring and awareness-raising initiatives.
• Climate Risk Research Initiative (IRC).

Supply Chain Management

Supplier Audits: 880 analyses in 2023

Responsible Procurement

• Code of Conduct
• Anti-Fraud and Anti-Corruption Policy
• Anti-Money Laundering and Financing of Terrorism Policy
• Risk Management Policy
• Integrity Program
• Sustainability Policy (ESG Policy) commitment clause in contracts.

Climate-Related Risks & Opportunities

Physical Risks

• Severe and/or prolonged droughts
• Floods
• Heavy rainfall
• Hailstorms
• Windstorms

Transition Risks

• Increased cost of energy, transportation, and raw materials
• Additional investments in facilities and equipment due to regulatory pressures.

Opportunities

• Protecting society from negative impacts of physical climate risks.

Reporting Standards

Frameworks Used: GRI Standards (2021), SASB

Awards & Recognition

• GPTW National Certification Seal