Our ESG Approach
With a broad range of activities in the insurance, agencies, investment, and credit sectors, the Phoenix Group operates in a dynamic business environment that is influenced by the challenges of globalization, technological progress, climate change, and social and cultural changes. As part of our strategic plan, we are deepening our ESG approach in a systematic way across organizational levels and throughout business activities related to our products, investments, and the organization.
We are in the process of developing a broad, sustainable infrastructure to manage ESG issues in a responsible, transparent manner. While we have worked on many of these issues in the past, we are currently building a multi-year work plan to continue our work on the following in a strategic, systematic, measurable approach.
Environment: We invest in protecting the environment through the consideration of environmental issues in our investments. We identify risks that result from the climate crisis and develop products and services that protect the environment and create environmental value. We identify and implement organizational actions to reduce our impact on the environment.
Social: We manage our employees in a responsible manner that takes into consideration diversity, development, and wellbeing. We increase digitalization processes to improve our service for customers, agents, and business partners. We strengthen our involvement in the community.
Governance: We engage with stakeholders in a responsible, transparent manner, according to the highest standards of governance. We aim to integrate these standards into the companies that we invest in and insure.
Strategic ESG Initiatives Across Group
• Long-term strategic program with multi-year workplan
• Covering full activities
- Organization footprint
- Products & solutions
• Broad infrastructure for proactive management and transparent measurement and communications
• Oversight by board of directors ESG committee
Integration into investment processes; identification of relevant environmental and climate risks; promotion of values and services; optimization of organizational footprint
Responsible employee policies (e.g., diversity, promotion, concern); improved service through digitization (including customers, agents, and partners); community involvement
Best practice structure and processes; transparency; ethics; group as example for invested companies
Full ESG report to be published in Q2 2022.