“Our insurer’s calling, which involves preparing people for unexpected situations, has evolved with our commitment to sustainability: we need to do this while identifying, assessing, and managing ESG risks and opportunities in a responsible and forward-looking manner. Sustainable corporate operations require serious commitment and investment, which we are often tempted to postpone for short-term advantages. I am proud that at the Generali Group, we do not see our corporate transformation as a surrender but as a conscious investment in our future.”
Mihály Erdős, Chairman and CEO, Generali Hungary
Executive Summary of the Application – Original, Unaltered Text
Executive Summary of the Business Transformation:
We believe that securing the future begins in the present, and the focus should shift from short-term gains to creating a sustainable world for future generations. To achieve this, we needed to change our focus within our own operations. At Generali Hungary, we did not have a dedicated organizational unit, resources, or a local sustainability strategy for sustainability. In 2022, we made changes: we developed a local sustainability strategy, and since early 2022, we have had a sustainability officer in the organization, under the direct control of the CEO. We support mindset change through targeted training and dedicated actions, our carbon reduction plan has been completed, and our operational carbon reduction target for 2025 is under review. We are in the process of transforming our vehicle fleet (reducing the number of diesel cars by -60%), and we have initiated a sustainability-focused review of business travel. Sustainability considerations have been integrated into procurement processes. We have taken significant steps towards paperless operations (a -70% reduction in paper usage). In terms of property management, we continue the ongoing energy efficiency investments: solar panels have been installed on 8 existing sites, resulting in annual savings of HUF 6.5 million. Through a comprehensive sustainability organizational review, we plan to further shape sustainable corporate governance processes.