MAPFRE has joined the global network of signatories to the Principles of Responsible Investment (PRI), an initiative in collaboration with the UN Global Compact, which aims to understand the impact of environmental, social and governmental issues on investment and encourages signatories to integrate these issues into their decision-making.
The move by MAPFRE is aligned with its long-standing commitment to social and environmental sustainability.
MAPFRE has been a signatory to the UN Global Compact since 2004, and as an insurance company, it is also adhering to the principles of sustainable insurance developed by the United Nations.
Antonio Huertas, president of MAPFRE, says: “As we strengthen and develop our investment and asset management business we aim to align the interests of our investors with the wider objectives of society, without forgetting that those actions are In line with our fiduciary role of always acting in its best interests in the long term."
The six Principles of Responsible Investment were developed by investors and backed by the UN. There are over 1,400 signatories operating in more than 50 countries and representing assets worth USD59 trillion.
MAPFRE has decided to gradually align its investment policies. Recently, its asset management business, MAPFRE AM launched a fund that invests exclusively in companies with good corporate governance. It did so having published academic research that showed that investing in socially responsible companies with good corporate governance is more profitable in the long term.
