Climate Change Data

Environmental Metrics

ESG Focus Areas

• Business Ethics and Conduct
• Responsible Investments
• Holistic Social Development
• Stakeholder Engagement and Accountability
• Sustainable Operations and Environment Policy

Environmental Achievements

• Adopted digitization initiatives to reduce energy consumption, environmental impact, and greenhouse gas emissions
• Corporate office in a Green-rated building optimizing air conditioning and reducing electricity consumption
• Use of LED light fixtures in corporate office and branches
• Installation of an STP plant at the corporate office for water recycling
• Minimized single-use plastic in day-to-day operations
• Paperless board meetings and digital solutions across customer and employee lifecycle

Social Achievements

• Launched FlexiFirst Hybrid Working Policy for work-life balance
• Provides capability development opportunities to employees
• Offers EAP (Employee Assistance Programme) for psychological safety
• Conducts regular townhalls, webchats, and skip-level discussions for employee engagement
• Formulated a policy against sexual harassment at the workplace
• Participates in financial literacy drives and insurance awareness programs
• Promotes employee volunteering

Governance Achievements

• Corporate Governance framework aligned with Companies Act 2013, SEBI, and IRDAI guidelines
• Implemented Whistle-Blower Policy, Anti-Fraud policy, Anti-money laundering policy, Information Security policy, Business Continuity policy, Grievance Redressal policy, Prevention of sexual harassment policy, Corporate Social Responsibility, Risk management Framework and policy, Stewardship policy, Investment policy, Related Party Transactions policy, and Employee code of conduct
• Established Information Security Committee to oversee cyber risks
• Adopted a four-stage risk management process
• Launched IndiaFirst Sustainable Equity Fund focusing on ESG investments

Climate Goals & Targets

Environmental Challenges

• Balancing fiduciary responsibility to policyholders with ESG risk considerations in investments
• Need to increase insurance awareness among the population, especially in rural areas

Mitigation Strategies

• Incorporating responsible investing principles into investment processes
• Implementing a Stewardship policy for active ownership in investee companies
• Augmenting ESG training and capacity among investment analysts
• Broadening portfolio inclusions to include green bonds and investments in renewable energy
• Conducting ongoing insurance awareness campaigns through various media channels

Supply Chain Management

Responsible Procurement

• Strive to procure recycled, environment-friendly, energy-efficient, and locally sourced products
• Set clear expectations with vendors and suppliers to abide by labor laws, human rights, and regulations

Climate-Related Risks & Opportunities