Climate Change Data

Arabian Scandinavian Insurance Company PLC ASCANA Takaful

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Increased energy savings from 66% in 2019 to 82% in 2022 by using power-saving LED lights and implementing lights-off rules after office hours
  • Recycled over 1,000 kg of paper per year through the GreenBox program
  • 70% of employees participated in environmental & social initiatives
  • 22% budget increase for environmental causes

Social Achievements

  • 77% of employees covered by human rights assessments
  • Implemented programs to recruit more racially diverse candidates, resulting in increased diversity at executive, management, and company levels
  • Conducted mentoring and leadership development programs for female employees

Governance Achievements

  • Established a Sustainability Committee
  • Implemented Anti-Fraud and Misconduct Procedure (AFMP) with multiple reporting channels
  • Achieved ISO 27001 and ICV certifications

Climate Goals & Targets

Long-term Goals:
  • Increase the proportion of women in senior management roles to 25 percent
Medium-term Goals:
  • Increase board diversity
  • Implement Carbone program emissions management
Short-term Goals:
  • Reduce 80% manual work in the Customer Care Unit by 2023
  • Implement standardized reporting framework to measure and report carbon emissions
  • Increase facilities’ LEED square footage

Environmental Challenges

  • Reducing manual work in the Customer Care Unit
  • Meeting customer expectations in a price-sensitive market
  • Managing data protection risks in a digitalized environment
Mitigation Strategies
  • Digitalization and development of new systems for the Customer Care Unit
  • Creating an omni-channel customer engagement strategy
  • Developing a “Voice of the Customer (VoC)” program
  • Improving transparency regarding the use of personal data and better understanding of related risks

Supply Chain Management

Responsible Procurement
  • Procurement Policy

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: ISO 27001, ICV