MAPFRE supports the Circular Economy

MAPFRE aims to become a leader in its support for the circular economy.

As such, the Group is pursuing several initiatives in order to achieve this goal, which is yet another example that illustrates how the company is playing its part.

The circular economy is a model of production and consumption that allows organisations to optimize their use of materials and waste, which instead of being viewed simply as disposable, are subject to reuse, repair, reduction, and recycling, all with the goal of giving these materials a second life. Consequently, adopting a circular economic model aims to reduce waste to a bare minimum. Moreover, the circular economy aims to tackle global challenges such as climate change, biodiversity loss, waste, and pollution.

In this context, MAPFRE is demonstrating its strong commitment to promoting the circular economy, as reflected in the following initiatives that contribute to UN Sustainable Development Goals (SDGs) 11, 12, 13, 14, and 15.

Agreement on the Circular Economy: In 2020, MAPFRE joined this project developed by Spain’s Ministry of the Ecological Transition and Demographic Challenge to reduce the use of non renewable natural resources and raise awareness about the importance of moving from a linear economy towards a circular economy. MAPFRE also signed an agreement with the Spanish Chamber of Commerce to provide consultation to small businesses and help them calculate their carbon footprints with a tool that allows them to evaluate their energy efficiency and the degree to which they have implemented the circular economy in their organization.

MAPFRE Middlesea, forming part of MAPFRE Malta, has also contributed towards reducing the company’s carbon footprint by introducing electric vehicle insurance to its product portfolio in order to promote a greener environment and fight against climate change. With the introduction of this product, MAPFRE Middlesea hopes to lead a wider market transition by setting a strong example and continuing to develop and invest in its strategy towards the promotion of green organisational practices. The company is tirelessly working towards this goal due to its commitment to environmental sustainability.

Less waste: the company has taken on the challenge of making its corporate headquarters a ZERO WASTE FACILITY in 2021. This project was recently launched at the company’s offices with a focus on appropriate sorting of the various types of waste produced there, including organic materials (food remains), disposable masks, cups and containers, paper, toner, etc. Proper sorting of this waste will allow them to be reused and given a second life, instead of going directly into a landfill.

Plastic-Free MAPFRE: This campaign was launched in 2019 has allowed the company to replace all single use plastics previously found in vending machines and food service areas of MAPFRE headquarters in Spain and the head office in Portugal with containers made with 100% sustainable materials. Another purpose of this initiative has been to raise awareness among employees about better use of resources, while also encouraging reuse and recycling. So far, it has prevented generation of 25.8 tons of plastic waste and atmospheric emission of 104 tons of CO2.

CESVIMAP, sustainable vehicle repairs: MAPFRE’s Centre for Road Use Experimentation and Safety (CESVIMAP) is designing methods to repair vehicles sustainably, and contributing to the improvement of vehicle design to make cars safer and easier to repair. When vehicles have been declared a total loss, it also properly handles the disposal of hazardous components such as batteries and fluids, and recycles elements made from steel, aluminium, plastics, copper, and glass, giving a second life to thousands of vehicle parts.

MAPFRE’s activities will continue to remain centred around the contribution towards Sustainable Development Goals such as promoting one’s health and wellbeing, encouraging the use of clean and affordable options for energy consumption, fighting climate change, and cultivating new partnerships and relationships in order to achieve these goals.