The Triglav Group and Zavarovalnica Triglav d.d. Annual Report 2023

Search the report

The Triglav Group and Zavarovalnica Triglav d.d. Annual Report 2023

Sustainable development at the Triglav Group

  • The integration of the business and ESG strategies was further enhanced by the Sustainable Development Policy of Zavarovalnica Triglav and the Triglav Group, and the Sustainable Investment Policy of Zavarovalnica Triglav and the Triglav Group.
  • In pursuit of its ESG strategic ambitions, the Company entered into a partnership with the Chapter Zero Slovenia platform, became a signatory to the United Nations Principles for Responsible Investing (UN PRI) and a member of CER, the Slovenian Partnership for Sustainable Economy.
  • By redesigning its twelve mutual funds and pursuing a sustainability strategy in the discretionary mandate services segment, the value of assets under management that incorporate sustainability aspects increased significantly; at the 2023 year-end, the value of these assets reached EUR 1.1 billion.
  • Education and training were systematically provided, and a number of activities were implemented to ensure a healthy and safe environment for our employees.
  • Scope 1 and Scope 2 carbon footprint and electricity consumption decreased by 6%.

In the Triglav Group's strategic ambitions for sustainable development (ESG) covering the period of 2021–2025, it is set out that by pursuing sustainability goals the Group is creating a long-term stable basis for its profitable and safe operations, promoting the transition to a sustainable society and reducing its impact on climate change. This approach is pursued across all four key areas: insurance and asset management, own business processes, responsible stakeholder engagement and effective corporate governance. 

In 2023, the Group's strategic ambitions were further developed with the adoption of its Sustainable Development Policy. Serving as the overarching document for the Group's sustainability-related activities, it outlines the method of implementing the strategic ambitions, establishes the system for managing ESG aspects and risks, defines key corporate governance policies and provides guidelines for sensitive economic activities.

Delivering on sustainable development goals

Transition to a climate-neutral and resilient circular economy
 1.54 tCO2e (the carbon footprint) per employee in the Group and 1.46 tCO2e at Zavarovalnica Triglav (Scopes 1 and 2)
99% of electricity consumed at Zavarovalnica Triglav comes from renewable sources (62% at Group level)
19% rise in premium written by the Group from products with environmental and social impacts
Integrating ESG aspects into product development and the execution of own business processes. By 2025, to reduce the carbon footprint (Scopes 1 and 2) of own activities using the location-based method by 15% per employee. Implementing the European Green Deal on carbon neutrality by 2050.

Responsible stakeholder and community engagement
 73 NPS for the Group, ↓ 69 NPS for Zavarovalnica Triglav – high client satisfaction
 3.94 the ORVI index, high satisfaction of the Group's employees
1.4 billion km driven with the DRAJV safe driving apps

Maintaining high employee and client satisfaction. Developing an open culture of diversity and cooperation.
Promoting projects that contribute to the achievement of the United Nations Sustainable Development Goals (SDGs).

Comprehensive corporate governance
 43% share of women at first and second management levels under the Management Board, 25% of women in management and supervisory bodies
Adopted the Sustainable Development Policy and the Sustainable Investment Policy.

A signatory to the United Nations Principles for Responsible Investment (PRI), the United Nations Principles for Sustainable Insurance (UN PSI) and the Partnership for Carbon Accounting Financials (PCAF) initiative.

Upgrading high corporate governance standards by integrating ESG aspects and effectively managing sustainability risks.
Increasing the scope of public disclosures related to main aspects of sustainable business (according to GRI, SASB, CDP/TCFD methodologies).

Sustainable aspects of asset management
11,1% share of social impact, green and sustainable bonds in debt securities of the Group's investment portfolio
12 mutual funds redesigned to incorporate sustainability aspects of investments. The value of these assets under management increased to EUR 1.1 billion.
The Group does not have any investments from issuers at which at least 20% of electricity generation or income stems from coal (Coal Exit List). 
To double the share of social impact, green and sustainable bonds in debt securities by 2025.