Climate Change Data

VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe

Climate Impact & Sustainability Data (2022)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:30,293 tCO2e/year
Scope 1 Emissions:15,149 tCO2e/year
Scope 2 Emissions:14,471 tCO2e/year
Scope 3 Emissions:673 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:32,585,266 kWh/year
Water Consumption:Not disclosed
Waste Generated:6.1 tons/year (used IT devices)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Ecological and social criteria in capital investment
  • Responsible corporate governance/compliance
  • Partnerships
  • Product innovation
  • Customer orientation
  • Understandability of products
  • Data protection and security
  • Training and further education
  • Demographic change
  • Climate change
  • Office ecology

Environmental Achievements

  • Increased investments in Green Bonds to EUR 829 million (from EUR 436 million in 2021).
  • Successfully invested the entire EUR 500 million proceeds of its sustainability bond in sustainable projects within one year of issuance.
  • Renovated a 1911 building in Vienna to meet EU Taxonomy Regulation's climate protection requirements.
  • Achieved a Gold ÖGNI certificate for sustainable building operation for a building at Vienna's Rathausplatz.
  • Installation of photovoltaic systems on several buildings, generating approximately 70,000 kWh of clean electricity per year at one location.
  • Reduced coal risks in corporate business by 77% in 2022 compared to 2019.
  • Donated 1.585 used IT devices to AfB, saving resources and supporting people with disabilities.

Social Achievements

  • Established the VIG Family Fund with approximately EUR 7 million for supporting families of Ukrainian VIG employees.
  • Launched numerous support actions for Ukrainian colleagues and their families after the war outbreak.
  • Continued to be recognized as an excellent employer, included in the "Forbes World's Best Employers" list.
  • Implemented various wellbeing initiatives, including the "Keep Moving" program and the "VIG Bike Action."
  • Launched the "FRiDA" women's network to support women's professional exchange and networking.
  • Organized the Social Active Day, with 12,626 employees participating in social engagement activities.
  • Implemented a four-month traineeship for Ukrainian colleagues in Poland.

Governance Achievements

  • Continued development of the group-wide compliance management system.
  • No corruption cases reported in 2022.
  • Implemented a group-wide risk catalog explicitly concerning sustainability risks.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Completely remove existing direct coal investments from the portfolio by the end of 2035.
Short-term Goals:
  • Reduce existing direct coal investments by more than half by the end of 2025.

Environmental Challenges

  • Russian war of aggression in Ukraine.
  • Inflation.
  • Covid-19 pandemic.
  • Increasing storm damage.
  • Data protection breaches.
  • Cyber-attacks.
  • Compliance with numerous regulations.
  • Demographic change and its impact on pension, health, and care systems.
  • Climate change and its impact on insurance business.
Mitigation Strategies
  • Established the VIG Family Fund.
  • Implemented various support actions for Ukrainian colleagues.
  • Strengthened compliance management system.
  • Developed a group-wide risk catalog for sustainability risks.
  • Implemented measures to protect sensitive data.
  • Developed a multi-level security concept for IT risks.
  • Developed measures to adapt to climate change, including scenario analyses and risk reduction recommendations.
  • Developed initiatives to address demographic change, including expanding offerings in pension and health insurance.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Sustainable criteria in procurement (BTA Baltic)

Climate-Related Risks & Opportunities

Physical Risks
  • Flooding
  • Hail
  • Summer storms
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Development of climate-resilient products and services
  • Investments in renewable energy

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001:2015 (BTA Baltic), ÖGNI Gold (Vienna Rathausplatz building)

Third-party Assurance: KPMG Alpen-Treuhand GmbH

UN Sustainable Development Goals

  • SDG 3: Good Health and Well-being
  • SDG 5: Gender Equality
  • SDG 11: Sustainable Cities and Communities
  • SDG 13: Climate Action

VIG's initiatives contribute to these goals through various programs and investments in health, gender equality, sustainable housing, and climate action.

Sustainable Products & Innovation

  • Green Bonds
  • Sustainability bond
  • Funds-linked life insurance with ESG characteristics
  • Green Protect life insurance policy

Awards & Recognition

  • Forbes World's Best Employers
  • Green Insurer and Pension Fund Award (Union Biztosító)
  • Austrian Environmental Label (Wiener Städtische, Donau Versicherung)
  • Insurance of the Year (Kooperativa)
  • Top Responsible Company (Kooperativa)