By tightening our investment and underwriting guidelines, we are supplementing our ambitions in pursuing our net zero objective, which we essentially reflect through our sustainability program and the portfolio management contained therein. In addition, we are establishing a Group Sustainability Office to comprehensively anchor sustainability in our business model
Hartwig Löger, CEO of the Vienna Insurance Group
Vienna (OTS) – The sustainability declarations in the areas of investment and underwriting that are binding for all companies in the Vienna Insurance Group (VIG) are being expanded. In addition, VIG is establishing its own “Group Sustainability Office” as part of the current VIG 25 sustainability program.
Binding declarations in the areas of investment and underwriting
When implementing its sustainability strategy, VIG attaches particular importance to dialogue with its stakeholders. As a result of these discussions, a declaration with sustainability criteria for the investment process and underwriting was adopted in 2019. This has now resulted in two declarations with expanded regulations:
The declaration “Responsible Investing” contains the revised and expanded criteria for thermal coal and unconventional oil and gas as well as exclusions for banned weapons. VIG also refrains from investing in cases of violations of the UN Global Compact and human rights. VIG also follows a commitment approach to investing. This stands for active exchange and dialogue with companies in order to encourage them to improve their ESG performance in the areas relevant to VIG. In this regard, VIG has been working with the external partner ISS ESG since autumn 2023.
With the declaration decided in March 2024 and now published “Responsible insurance in corporate business” VIG no longer offers risk cover for unconventional exploration of oil and gas. These include shale gas and shale oil, so-called “tight” gas and oil, and all kinds of new deep-sea mining projects.
„By tightening our investment and underwriting guidelines, we are supplementing our ambitions in pursuing our net zero objective, which we essentially reflect through our sustainability program and the portfolio management contained therein. In addition, we are establishing a Group Sustainability Office to comprehensively anchor sustainability in our business model
“, explains Hartwig Löger, CEO of the Vienna Insurance Group.
Eigenes Group Sustainability Office
The “Group Sustainability Office” acts as a proactive coordinator for all sustainability issues within the group. It is primarily responsible for VIG’s sustainability program, which was created in a collaborative process with the group companies. It includes the six areas of activity: investment, underwriting, office operations, employees, customers and society, in which the group implements concrete measures. Klaus Mühleder (55), who has been working at VIG since August 2005, also has responsibility as Group Sustainability Officer within the Opportunity Management department.
The declarations and the first engagement report from VIG with its partner ISS ESG are available on the VIG website https://group.vig/nachhaltigkeit/downloads/ available.
Questions & Contact:
VIENNA INSURANCE GROUP AG Vienna insurance group
Schottenring 30, 1010 Wien
public.relations@vig.com
Wolfgang Haas, Tel: +43 50 390-21029, wolfgang.haas@vig.com