Max Financial Services Limited and Max India Limited
Climate Impact & Sustainability Data (2013, 2015-2016)
Reporting Period: 2013
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Corporate Social Responsibility
- Service Excellence
- Governance
- Employee Well-being
Environmental Achievements
- Not disclosed
Social Achievements
- Ranked 2nd in Insurance Industry for India's Best Companies to Work for 2012 by Great Place to Work and Economic Times
- Won the 6th National Conference & Competition on Six Sigma, 2012, for the Green Belt project "Power of Speed - Settlement of Claims within 10 days"
- Awarded the 6th AIMIA Loyalty Award in the category 'Financials - Non Banking Financial Services Sector'
- Silver EFFIE Award in 2012, for the 'Aapke Sachche Advisor' campaign
- QCI DL Shah Awards for Best Six Sigma Project on economics of Quality - 2012
Governance Achievements
- Well established board governance….internationally acclaimed domain experts inducted
- Disclosures ahead of competition
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Industry slowdown due to regulatory uncertainty in Clinical Research
- Cost overrun in Max Life Insurance
Mitigation Strategies
- Pro-active cost rationalisation in Clinical Research
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: NABH, NABL, ISO 14001:2004 & 18001:2007, ISO 9001:2008
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Golden Peacock Global CSR Award 2011
- Global CSR Awards at the World CSR Day 2012
- Golden Peacock Award for CSR 2012
- Best CSR Practices 2013 at 7th Indy’s Award
- Best CSR Practices 2013 at the World CSR Day
- Golden Peacock Award for CSR 2013
Reporting Period: 2015-2016
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Not disclosed
Environmental Achievements
- Not disclosed
Social Achievements
- Max Life was recognized as the “Life Insurance Provider of the Year” by “Outlook Money”.
Governance Achievements
- Not disclosed
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Increase protection business share in Max Life Insurance to 10% within 3-4 years.
- Double Max Healthcare's bed capacity to over 5,000 beds over 4-5 years.
Short-term Goals:
- Increase protection business share in Max Life Insurance to 6%.
Environmental Challenges
- Regulatory headwinds in the life insurance space.
- Expense overruns in Max Life Insurance.
- Negative non-operating variance due to CSR expenses.
Mitigation Strategies
- Cost rationalization measures in Max Healthcare (Rs. 40 crore in FY16).
- Focus on cost reduction in Max Bupa, reducing losses from Rs. 93 crore in FY15 to Rs. 68 crore in FY16.
- Addressing expense overruns through improved efficiency and cost management.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: Null
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Max Life: “Life Insurance Provider of the Year” by “Outlook Money”