UNIQA is committed to net zero emissions: a green change begins!

UNIQA is committed to net zero emissions: a green change begins!

UNIQA is emphatically presenting its first transition plan to achieve net zero emissions, with a clear message: Sustainability is not just a trend, but a responsibility firmly anchored in its corporate strategy. Companies have to concretely shape their influence on climate change, and UNIQA, as one of Europe's largest institutional investors with around 9.5 trillion euros in assets under management, takes its role seriously. “We are clearly committed to the Paris 1.5 degree target,” explains the insurer, and announces that all investments in coal will be stopped immediately. Oil will follow from 2025 and natural gas from 2026, as well uniqa-sustainable.com reported.

Ambitious measures for a sustainable business model

The transition plan not only envisages the withdrawal from fossil fuels, but also active support of existing corporate customers in their own transformation towards sustainable business practices. UNIQA began not taking out new insurance policies for companies in the coal sector in 2019 and will no longer offer any new contracts in the oil sector from 2024 and in the natural gas sector from 2025. The introduction of a comprehensive environmental management system in accordance with EMAS and ISO14001 at all sales locations in Austria underlines UNIQA's commitment to systematically reducing environmental impacts. “In a complex business environment, we partner with our customers to identify risks at an early stage and develop sustainable solutions,” says Olivera Böhm-Rybak, CEO of UNIQA Sustainable Business Solutions.

UNIQA has already invested over 2 billion euros in sustainable projects. The proportion of sustainable investments has doubled in the last two years to 10 percent of the total portfolio value. “The exit from fossil energies and the general support of our corporate customers in their climate-friendly transformation are at the heart of our strategy,” emphasizes Knapp. He adds that UNIQA Group is actively working towards reducing the carbon intensity of its investment portfolio and aims to reduce its own emissions to net zero by 2040. This not only represents a significant step towards climate protection, but also shows the company's desire to act as a pioneer in the insurance industry.