Climate Change Data

Proteq Levensverzekeringen N.V.

Climate Impact & Sustainability Data (2020, 2023)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:1905 tonnes (net carbon emissions)
Scope 1 Emissions:509 tonnes
Scope 3 Emissions:1396 tonnes
Renewable Energy Share:100% (electricity and green gas for offices)

ESG Focus Areas

  • Responsible investing
  • Sustainable products
  • Corporate Social Responsibility
  • Sustainable employability
  • Diversity and Inclusion
  • Reduction of carbon emission
  • Financial self-sufficiency of customers
  • Sustainable energy generation
  • Biodiversity

Environmental Achievements

  • Achieved a 45.2% drop in net carbon emissions for its internal organization to 1,905 tonnes. This was mainly due to restrictions on working at the office and minimized travel caused by the COVID-19 pandemic.
  • Offices operate on 100% green gas and electricity.

Social Achievements

  • Continued to promote sustainable employability (vitality, personal development) and sustainable employment relations (flexibility and diversity).
  • Organized a Women in leadership course with over fifty participants.
  • Opened a community for employees on diversity and inclusion.
  • Employee satisfaction increased to 7.6.

Governance Achievements

  • Implemented a consistent and efficient risk management system incorporating Solvency II requirements.
  • Developed a new Diversity & Inclusion policy.
  • Established a new corporate strategy following the acquisition by Athora.

Climate Goals & Targets

Long-term Goals:
  • Achieve climate neutrality.
Medium-term Goals:
  • Reduce greenhouse gas intensity of investments by at least 30% in 2030 compared to 2010 level.
  • Achieve climate neutrality (long-term objective).
Short-term Goals:
  • Finalize new sustainability strategy and approach in 2021.

Environmental Challenges

  • Shrinking market for individual life insurance.
  • COVID-19 pandemic impact on remote working, relationship building, and employee well-being.
  • Turbulent economic environment and capital market.
  • Risks regarding employee turnover and knowledge retention following the acquisition by Athora.
  • Implementation of improved sustainability strategy.
Mitigation Strategies
  • Implemented digital technologies and digitized back-end processes.
  • Mitigated challenges of remote working through interactive digital meetings, a COVID-19 proof studio, and management focus on employee safety and well-being.
  • Close monitoring of investments and business operations.
  • HR monitoring of employee risks.
  • Reviewing and finalizing a new sustainability strategy.

Supply Chain Management

Responsible Procurement
  • All suppliers are requested to comply with Athora Netherlands’ General Procurement Terms and Conditions, minimizing their ecological footprint.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather
  • Scarcity of water
  • Deforestation
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Low-carbon solutions
  • Circular water solutions
  • Improved infrastructure

Reporting Standards

Frameworks Used: UN Global Compact

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:677 tCO2e/year (2023); 834 tCO2e/year (2022)
Scope 1 Emissions:87 tCO2e/year (2023); 161 tCO2e/year (2022)
Scope 2 Emissions:14 tCO2e/year (2023); 0 tCO2e/year (2022)
Scope 3 Emissions:576 tCO2e/year (2023); 673 tCO2e/year (2022)
Renewable Energy Share:100% for own operations (electricity and gas).
Total Energy Consumption:Reduced electricity usage by 69% and gas usage by 45% compared to 2019.
Water Consumption:Data limited to companies, not governments.
Waste Generated:Aiming for zero waste generation in investment portfolios.
Carbon Intensity:0.37 tCO2e per € million turnover (2023); 0.45 tCO2e (2022)

ESG Focus Areas

  • Sustainable investing
  • Climate change
  • Biodiversity
  • Circular economy
  • Human rights
  • Diversity & inclusion
  • Community investment
  • Employee well-being

Environmental Achievements

  • Moved to a new, highly sustainable office building (EDGE Amsterdam West) with high BREAAM and WELL scores.
  • Achieved a 78% drop in net carbon emissions for own operations compared to 2019.
  • Fleet will consist of only fully electric vehicles by 2026.

Social Achievements

  • Maintained the number one position in the VBDO ranking as the most sustainable investor in the insurance sector in the Netherlands.
  • Provided funding to a Dutch company providing smart mounting systems for solar panels.
  • Improved employee satisfaction due to a better work environment and commercial success.
  • Achieved 'Top Employer' certification for the second year in a row.
  • Decreased absenteeism rate to 4.4% (2022: 5.0%).
  • Employee engagement survey showed improvement in several areas.

Governance Achievements

  • Established a new Executive Committee to improve governance.
  • Completed remediation activities to address identified shortcomings in AML/CFT compliance.
  • Implemented a principle-based framework (Covenant) to govern interactions between Athora Netherlands and Athora Group.

Climate Goals & Targets

Long-term Goals:
  • Net-zero greenhouse gas emissions by 2050.
Medium-term Goals:
  • 50% GHG emissions reduction by 2030 compared to 2019.
  • Truly CO2 neutral own housing and facilities by 2030.
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Supply chain disruptions (implied by the need for alternative sourcing strategies)
  • Meeting the 2030 medium-term targets of the Paris climate agreement (implementation lagging behind)
  • Lack of reliable and comparable data on biodiversity impact
  • Insufficient knowledge about the impact of toxic chemical and hazardous waste pollution
  • Addressing shortcomings in AML/CFT compliance.
Mitigation Strategies
  • Developed alternative sourcing strategies (implied)
  • Shifting focus from target setting to implementation of climate transition plans (CA100+ initiative)
  • Anticipating CSRD regulations by including sustainability criteria in supplier contracts.
  • Completed remediation activities to address AML/CFT compliance issues.
  • Strengthening policies and processes to manage sustainability impacts, risks, and opportunities.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Sustainability criteria included in supplier contracts.
  • Suppliers declare steps to minimize ecological footprint.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather (implied)
Transition Risks
  • Regulatory changes, market shifts
Opportunities
  • Development of energy-efficient products (implied)

Reporting Standards

Frameworks Used: GRI Standards, NFRD, CSRD (from 2024)

Certifications: Top Employer

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 7 (Affordable and clean energy)
  • Goal 8 (Decent work and economic growth)
  • Goal 13 (Climate action)

Initiatives contribute to these goals through sustainable investments, employee well-being programs, and emissions reduction targets.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Top Employer
  • VBDO ranking (most sustainable investor)