Mapfre, officially known as Mapfre S.A., is a leading global insurance and pension funding services provider headquartered in Madrid, Spain. Established in 1933, the company has grown significantly, expanding its operations across Europe, Latin America, and the United States.
Specialising in a wide range of insurance products, including life, health, and property insurance, Mapfre distinguishes itself through its customer-centric approach and innovative solutions tailored to meet diverse client needs. With a strong market presence, it ranks among the top insurers in Spain and has received numerous accolades for its financial stability and service excellence.
Mapfre's commitment to sustainability and social responsibility further enhances its reputation, making it a trusted choice for individuals and businesses seeking comprehensive insurance solutions.
+15 vs industry average
Mapfre’s score of 54 is higher than 68% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Insurance Services is among the least carbon-intensive industries
Industry performance
The Insurance Services industry has reduced its overall emissions by 25% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Mapfre's reported carbon emissions
MAPFRE, a company in the insurance and pension funding services sector headquartered in Spain (ES), has been reporting its carbon emissions across various scopes.
For the reporting year 2024, MAPFRE reported total emissions of approximately 67.4 million kg CO2e. This figure is predominantly comprised of Scope 3 emissions, totalling about 49.5 million kg CO2e, and Scope 1 and 2 emissions, which accounted for approximately 17.9 million kg CO2e.
In 2023, the company's total emissions were around 77.1 million kg CO2e, with Scope 3 emissions at approximately 52.6 million kg CO2e and Scope 1 and 2 emissions at about 24.6 million kg CO2e. The preceding year, 2022, saw total emissions of roughly 80.3 million kg CO2e, with Scope 3 at approximately 54.6 million kg CO2e and Scope 1 and 2 at about 25.7 million kg CO2e.
Looking back to 2021, MAPFRE reported total emissions of approximately 50.5 million kg CO2e. This included Scope 1 emissions of about 10.0 million kg CO2e, Scope 2 (market-based) emissions of approximately 11.2 million kg CO2e, and Scope 3 emissions totalling around 55.6 million kg CO2e. For the same year, Scope 2 emissions on a location-based method were around 24.9 million kg CO2e.
The company's emissions data is cascaded from its ultimate parent organisation, Mapfre, S.A., at cascade level 2, under a current subsidiary relationship.
MAPFRE has previously established climate commitments, including an Energy Efficiency and Climate Change Strategic Plan with a 2020 time horizon. This plan aimed for a 20% reduction in the Group's carbon footprint compared to 2013 levels. This target encompassed reductions in Scope 1 and Scope 2 emissions. For instance, a commitment was made to reduce 9,924 tonnes of CO2e (approximately 9.9 million kg CO2e) by 2020 compared to 2013. Specific targets for energy efficiency included a reduction of 14,710,519 kWh.
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Mapfre’s Climate Goals (2030 & 2050)
3 goals2020
20% reduction in all scopes
MAPFRE has an Energy Efficiency and Climate Change Strategic Plan with a time horizon of 2020, calling for the reduction by 20 percent of to…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Mapfre
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