Sustainability strategy

Sustainability strategy

For us, sustainability is the capability we have to re-think ourselves, to anticipate, to find new answers and to manage risk to face the challenges of a competitive setting.

Sustainability, purpose of our strategy

Corporate Responsibility is understood as the criteria used to act, an ethical commitment we fully assume to build businesses, our participation in social development projects, and in state-owned dynamics.

Companies are paramount for the development of countries not only because of the economic impact of their operations, but because of their capacity to influence state-owned dynamics and social transformation processes in the regions where they operate.

Indeed, sustainability has been a part of our inception as a general insurance company. This is observed in the vision and philosophy its leaders have had on how to assume corporate responsibility for corporate sustainability. Since it was founded, our Company has been conceived as a social organization with a huge capacity to mobilize to build better settings, which favor social, environmental and economic sectors. With this in mind, the Organization has focused on an ethical, integral and coherent business management, first in Colombia and now in Latin America.

Learn about our President’s insights on Corporate Responsibility

Our objetive

By determining the higher corporate purpose of “creating well-being and sustainable development for individuals, organizations and society”, we have three duties:

  • Understand and meet the expectations of our stakeholders.
  • Be alert to trends and detect opportunities and risks involved, beyond current businesses.
  • Support the transformation inherent to future businesses.

These tasks should always keep in mind environmental, social and governance aspects in the decision-making process, aimed to improve the socio-economic conditions of the communities where we operate and to guarantee our compliance with the purpose mentioned.

For us, sustainability is the capacity to re-think ourselves, anticipate, find new answers and manage risks to face the challenges of a competitive setting.

We leverage the competitiveness of organizations and the well-being of individuals based on our corporate principles. This leads to coherence between what we are, what we say and what we do, all to maximize value generation, responsible growth and exist for a long time.

Working model

To advance in this setting, we have developed a working model aimed to facilitate trend, risk and opportunity management, to keep in mind stakeholders at the time of making decisions, to adopt responsible practices in business deals, and to participate in state-owned dynamics to reach the purpose of this Company.

Learn about our commitment to sustainable development.

Sustainable Development Goals

The U.N. Sustainable Development Goals are part of our corporate strategy and of our business model since September 2015. As a company in the financial services sector, we particularly focus on Goal 8 – Decent Work and Economic Growth.

Nonetheless, the strategy of being a responsible business with projects aimed to boost sustainability allow us to contribute to the other 16 goals, most importantly those related to health and well-being, quality education, and industry and innovation.

Indexes and commitments

Our economic, environmental and social performance is assessed by a good number of organizations, such as rating agencies, which in turn provide information to socially responsible investment entities.

Our efforts to turn sustainability into a core of the Company’s strategy is paying off. Our Company has been recognized by prestigious global indexes, such as the Dow Jones Sustainability Index (DJSI), Carbon Disclosure Project (CDP), and FTSE.

  • Dow Jones Sustainability Index (DJSI) – RobecoSAM, Switzerland: To DJSI, “corporate sustainability is a business focus which seeks to create long-term value for shareholders by managing opportunities and risks inherent to economic, environmental and social development.
  • FTSE4Good Index – Evalueserve, United Kingdom: The FTSE4Good Index analyzes the development of companies in terms of their Environmental, Social and Governance (ESG) practices.

    
Subscribed to this index for over five years, Grupo SURA climbed from 4,4 points to 4,7 over 5, which is the highest score, in the last period. Besides, the Corporation improved the percentile of its sector, from 91 a 95.

    

The development of our performance in environmental practices is worth highlighting whereby we earned 5 points compared to 4 in the previous period.

  • Oekom – Oekom Research Germany: This firm analyzes more than 100 criteria, specifically selected per industry, covering the social and environmental performance of businesses. Grupo SURA received the prime status in the most recent analysis of Oekom which means that our performance is “good” in a scale ranging from D- (poor) to A+ (excellent).
  • Carbon Disclosure Project (CDP) – United Kingdom: We are part of the CDP – Driving Sustainable Economies initiative, which runs the global disclosure system for companies, cities and regions to measure and manage their environmental impacts on climate change, water and forests.

    Its network of investors, representing USD 100 trillion and of different governments uses CDP data and their vision to make informed decisions. Grupo SURA is listed in the global ranking. CDP uses four different categories – from D to A – to classify the companies: Transparency, Sensitization, Management and Leadership.

  • United Nations Global Compact: Grupo SURA signed up to the U.N. Global Compact initiative in 2009. This means that the Corporation ratified its commitment to responsible management, aligning its business strategies and practices with the 10 principles thereof in the areas of: Human Rights, Labor, Environment and Anti-Corruption​​.