IRB(Re) published its first Annual Sustainability Report for 2023 today (June 28th). The document, aligned with the guidelines of the Global Reporting Initiative (GRI), addresses environmental, social and governance aspects. “In 2024, we celebrate 85 years and the publication of this report is a milestone. Our activities are directly connected to the concept of sustainability, as they represent a risk management tool for the proper treatment and minimization of impacts that may affect the performance of companies and people’s lives”, says Marcos Falcão, IRB(Re) CEO.
According to the report, the purpose of the materiality study completed last year by the reinsurer is to identify potential sustainability risks in the company’s core business and management. “Among other things, sustainability risks include climate, environmental and social risks, and managing these risks is crucial for our operations and the business lines in which we operate. Among all the risks pointed out by the study, the risk of climate change is the one that deserves the most attention. That’s why we have an initiative aimed directly at climate change research. We also address these risks in studies, analysis and monitoring,” says Thaís Peters, IRB(Re)’s director of Internal Controls, Risks and Compliance.
In addition to examining the economic and financial results achieved by IRB(Re) in 2023, when the company returned to profitability, the Sustainability Report highlights non-financial results such as the implementation of the Integrity Program, the strengthening of the corporate governance structure, the 70% reduction in energy consumption, the 20% reduction in water consumption and participation in the B3 diversity index, among other advances.
“We are aware of our role, as a reinsurer, in identifying, assessing, monitoring, mitigating and adequately controlling risks related to sustainability issues, and in inducing the integration of these issues as management practices in the insurance and reinsurance chain. Among the initiatives implemented in 2023, I would highlight our Integrity Program, which also focuses on the sustainability of our business. The program is targeted at all our employees, as well as business partners, suppliers and third parties,” adds Thaís.
IRB(Re)’s 2023 Sustainability Report is available for consultation here on the website, under About us>The Company. Click here.
