Product sustainability

Integrating ESG factors in underwriting

At GCO, we have strengthened our commitment to integrating sustainability into the underwriting process by creating a declaration of environmental and social underwriting commitment. This is why we meet one of the key objectives set out in our 2024-2026 Sustainability Master Plan. 

This statement is aligned with our goal of being carbon neutral in our insurance portfolio for 2050, by excluding activities with high exposure to carbon emissions from the portfolio or with a negative environmental impact. We are also committed not only to not engaging in environmentally harmful activities, but also to excluding activities that are not aligned with our ethical and social values.

We also believe that having an ongoing dialogue with customers is key to creating a sustainable future. For this reason, we have strengthened our ties with our customers by highlighting environmental awareness. We also support them in their own transition, helping them to understand how ESG factors and issues can translate into risks and what sustainable practices they can implement to reduce their environmental impact.

Sustainable products

Part of our commitment to sustainability consists of offering solutions that help address new environmental and social challenges, thus creating a more resilient world. We are committed to innovative solutions that reduce greenhouse gas emissions, thus supporting a fair transition towards a low-carbon economy. Through financial inclusion, we strive to build a more inclusive and egalitarian society, guaranteeing protection for vulnerable groups against certain risks. 

Our overall commitment to sustainability is not only reflected through our insurance products, but also through the investments we offer. Thus, 100% of our investment fund products and unit linked products, and 99% of our pension funds/EPSVs are covered by Article 8 of the Sustainable Finance Disclosure Regulation (SFDR), as they explicitly incorporate environmental and/or social considerations in their management.

The funeral business likewise offers alternatives that help to conserve natural resources and preserve ecosystems, such as sustainable coffins and oxo-biodegradable shrouds. We also promote financial inclusion by supporting families with limited resources, offering them a funeral service that is subsidised or free of charge.

Sustainable service management

Sustainable claims management is a priority for us, and this is reflected by the creation of new sustainable practices in dealing with our customers' claims. This strategy seeks not only to optimise operational efficiency, but also to make a positive contribution to the environment and society. 

The vehicle repair service that we offer through the AutoPresto garage network has become the first to receive "CZ Sustainable Garage Network" certification. This seal guarantees that its activity respects sustainability and environmental care criteria.

We also recognise the importance of sustainable management in funeral services, and seek to have facilities and services that reflect our commitment to sustainability, including the use of sustainable materials and more environmentally-friendly options for our fleet of vehicles.

Finally, we have a network of specialist professionals who are committed to our environmental and social values. We work closely with our professionals to move towards a responsible supply chain, transforming our relationships with suppliers into strategic partnerships that focus on sustainability.