MAPFRE will neutralize more than 80% of its carbon footprint by 2025 in a total of 13 countries

To mark the International Day of Climate Action, celebrated today, MAPFRE reaffirms its commitment to contribute to the fight against climate change and to firmly and continuously increase the demand for sustainability. 

The insurance company takes on this challenge with numerous measures to reduce the footprint of its direct operations, as well as with public objectives, such as neutralizing more than 80% of its footprint in 13 countries by the end of the year on the way to becoming a neutral company in 2030 in all countries and Net Zero in 2050. It has also set ambitious commitments, such as not insuring or investing in coal, gas, or oil companies that do not have an energy transition plan.

In 2024, the company surpassed all of its objectives set to reduce the carbon footprint generated by its activity and has decreased its global carbon footprint by 25% compared to 2022, which represents 15 points above the target set for 2024 (10%). This decrease is mainly due to the restriction of fossil fuels and electricity (there has been a 27% reduction in energy per year), the use of renewable energy sources, such as solar, and the replacement of its fleet of conventional vehicles with hybrid or electric vehicles.

Commitment to sustainable mobility

Specifically, in 2024, MAPFRE has managed to avoid the consumption of more than 124,000 liters of fossil fuel thanks to the incorporation of ECO vehicles in its fleets. This amount, which is equivalent to 2,500 gasoline tanks of a conventional vehicle, has prevented the emission of more than 450 tons of CO₂, a figure comparable to the absorption capacity of more than 21,000 trees over the course of a year.

This progress has also been made possible thanks to limiting the use of fossil fuels and the commitment to finding cleaner, smarter solutions that promote sustainable mobility, such as shuttle services connecting some offices with central points in the city, bicycle parking, electric vehicle leasing, and charging stations for ECO engines in employees’ vehicles.

Renewable energy

Meanwhile, major electricity supply agreements with certified renewable origins have been established in Brazil, Puerto Rico, Mexico, Peru, and Turkey, further expanding the network of 100% renewable contracts already in place in Spain, the United States, Portugal, and Germany. Sourcing clean energy prevented the emission into the atmosphere of 4,359 tCO2e last year in these countries and ensured that the Group’s total electricity consumption worldwide now comes from renewable sources. MAPFRE has also generated a total of 3.10 GWh of renewable energy through photovoltaic installations in its main buildings in Spain, Mexico, Italy, Peru, the Dominican Republic, and Malta.

Responsible and sustainable investments

The Sustainability Plan 2024-2026 also includes measures to promote responsible and sustainable investments and to develop innovative products that facilitate the transition to a low-carbon economy. In line with this, by 2030, the company will reduce the greenhouse gas emission intensity (tCO₂e per million euros invested) of the Group’s investment portfolio (corporate bonds and equities) by 43%, using 2022 as the baseline year. It will also increase investment in solutions that support the transition toward a low-carbon economy, as well as expand its range of sustainable funds.

Circular economy and waste management

The circular economy is also integrated into the environmental commitments of the company as part of its strategy towards a more sustainable and efficient business model. In 2024, it recycled 4,823 tons of waste, 96% of the annual total of waste managed by the Group.

In this regard, the work of CESVIMAP, MAPFRE’s R&D center, stands out through its Authorized Processing Center, CESVIrecambios, which recovers around 700 tons of parts each year from damaged vehicles to be reused in other vehicles.

This global technology center specializes in vehicle repair and recycling, among other services, and is a reference in how to dispose of vehicles in a sustainable way and, thus, extend the life of parts, facilitate the reuse of raw materials (e.g., plastic and glass), and reduce energy consumption.