If P&C Insurance Holding Ltd

Climate Impact & Sustainability Data (2020)

Total Carbon Emissions:4,210 tCO2e/year

Renewable Energy Share:100% of total electricity use

Total Energy Consumption:20,563 MWh/year

Water Consumption:21,095 m3/year

Waste Generated:923 tons/year

Reduced CO2e emissions from own operations by 50% since 2019 (79% reduction compared to 2008 levels, reaching the target set for 2021).
If's house assessments reduced GHG emissions equivalent to 2,630 tonnes of CO2, according to IVL Swedish Environmental Research Institute.
Recycled approximately 1,540 tonnes of waste from damaged properties in Norway.
All electricity comes from renewable sources.
Indirect energy use decreased by 10% since 2019 due to remote working.

Successfully transitioned several thousand employees to remote work in the Nordics and Baltics within 24 hours in If Finland.
Developed the Remote Leadership Toolbox and the Leading in the New Normal Toolbox to support leaders during COVID-19.
Launched HeartBeat, a new employee engagement measurement process.
Reduced employee turnover in several countries.
Significant investments in improving talent acquisition practices, including a new Employer Value Proposition.

Incorporated If’s Supplier Code of Conduct into all claims handling contracts as of January 2020.
Further integrated Environmental, Social and Governance (ESG) factors into investment operations.
Developed a diversity and inclusion maturity model.
Implemented a new whistleblowing system.
Implemented a new Nordic tool for pay gap analysis.

Long-term Goals:

Reduce CO2e emissions from own operations by 60% compared to 2008 levels by the end of 2021 (a new long-term target will be developed in 2021).

Medium-term Goals:

Short-term Goals:

Reduce employee turnover to below 12% by the end of 2021.
Achieve eNPS (employee Net Promoter Score) above 50 by the end of 2021.
Reduce sickness levels to below 3% by the end of 2021.
75% of suppliers to have signed the Supplier Code of Conduct by the end of 2021.

COVID-19 pandemic and its impact on working life, processes, and ways of working.
Challenges related to remote working, including employee isolation and difficulties maintaining progress on collaborative projects.
High employee turnover in customer centers.
Need to expand diversity and inclusion efforts beyond gender equality.

Transitioned employees to remote work, providing necessary equipment and support.
Developed toolboxes for remote leadership and working in the new normal.
Improved recruitment, onboarding, and performance processes to reduce turnover.
Appointed a Diversity and Inclusion Manager and developed a maturity model to systematize diversity and inclusion efforts.
Launched initiatives to improve employee engagement and well-being.

Supplier Code of Conduct covering human rights, labor rights, environment, and anti-corruption.
Sector-specific environmental requirements for property and vehicle repair contractors.
Encouraging use of environmentally friendly and locally produced materials.
Reducing transportation through direct material delivery and use of electric/hybrid vehicles.

Increased demand for insurance products and services related to climate change adaptation and physical risks.
Development of energy-efficient products and services.

Frameworks Used: GRI Standards: Core option

Third-party Assurance: KPMG

The report details how If's initiatives contribute to these goals.