Climate Change Data

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.

Climate-Related Risks & Opportunities