MAPFRE offsets approximately 80% of its global footprint with projects to protect biodiversity

MAPFRE generated an operational carbon footprint of 52,866 tCO2e in 2024, 25% less compared to 2022. About 80%, that is, 41,996 tCO2e, has been offset through projects of reforestation, avoided deforestation, regenerative agriculture, enhanced forest management and renewable energy.

This decrease surpassed the challenge set for 2024 (10%) by 15 points. It was due to the Group’s efforts to continue moving toward decarbonization of the economy, not only through investment and underwriting, but also steps to the direct footprint of its operations. These include a restriction on the use of fossil fuels, the use of renewable energy sources, the replacement of its fleet of conventional vehicles with hybrid or electric ones, the reduction of business trips and employee travel to work centers.

Avoid deforestation

A total of ten countries where MAPFRE operates have been involved in projects to offset its operational carbon footprint. Noteworthy is the “Envira Amazonia Project” being carried out on the banks of Río Jurupari in the Amazon rainforest of Brazil, in an area degraded by the extraction of rubber and subject to intense deforestation. Germany, Spain, United States, Italy, Mexico and Puerto Rico have offset their operational carbon footprint via this project. The project aims protect the biodiversity of the area and generate additional income for families by implementing sustainable agricultural practices. A total of 30,881 tons of carbon have been offset by the project.

Peru and Brazil have also played a leading role in projects to avoid deforestation. They have offset a total of 6,032 tons of carbon, thus helping prevent logging or destruction of forests, assist farmers transition to sustainable crops and preserve the environmental integrity of high quality tropical forests.

Restore agricultural ecosystems

The company has also supported initiatives of regenerative agriculture, which aims to help farmers in Spain, Italy and Germany make the transition from conventional intensive agricultural practices to regenerative agriculture and reduce greenhouse gas (GHG) emissions with practices to improve soil health, biodiversity and reduce use of fertilizers. By means of this project, these countries have offset a total of 2,139 tons of their operational footprint.

Also significant is a project for the ecological and landscape recovery in the Serra do Caramulo in Portugal, through which MAPFRE Portugal has offset 972 tons of carbon; in addition to a wind power project with which MAPFRE Turkey has offset a total of 622 tons of carbon.

Improve forest management

The rest of the footprint has been offset by improved forest management projects aimed at optimizing the sustainable use of forests, conserving biodiversity, reducing greenhouse gas emissions and improving social and economic benefits for the local community.

All these projects are selected in accordance with the Corporate GHG Compensation Strategy, which prioritizes projects for nature-based solutions that promote biodiversity conservation and regeneration, in addition to generating a positive impact on local communities.