Walaa Cooperative Insurance Company
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Customer satisfaction
- Employee well-being and development
- Corporate governance
- Environmental responsibility
- Community investment
Environmental Achievements
- Initiated multiple initiatives to reduce paper consumption through online portals and SMS services.
- Partnered with Ertiqa to reuse and recycle electronic equipment.
- Donated non-sellable items to charity organizations.
- Recycled motor salvage materials.
Social Achievements
- Achieved 83% general customer satisfaction.
- Maintained approximately 18% female workforce representation.
- Conducted 378 training sessions with 93,128 training hours in 2020.
- No reported workplace injuries in 2020.
- Provided life insurance policies to all employees.
- Supported community initiatives through SAR 1 per policy donation.
- Participated in safety events and awareness campaigns.
- Offered internship programs to over 25 students annually.
Governance Achievements
- Established an ESG Steering Committee led by the CEO.
- Implemented business continuity plans during the COVID-19 pandemic.
- Obtained ISO 9001:2015, ISO 27001:2013, ISO 22301:2019, and ISO 45001:2018 certifications.
- Established a code of ethics and a whistleblowing mechanism.
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impact on stakeholders and operations.
- Water scarcity in the operating region.
- SAR 5,000 fine from SAMA for non-compliance with social distancing.
Mitigation Strategies
- Implemented business continuity plans, including work-from-home options and digital service promotion.
- Installing water consumption meters to track and reduce water usage.
- Implementing stricter safety measures to ensure compliance with regulations.
- Contributed SAR 1,000,000 to the Health Endowment Fund.
Supply Chain Management
Responsible Procurement
- Supplier evaluation and monitoring based on social responsibility criteria.
- Vendor and partner code of conduct.