

ESG risks (sustainable risks) refer to environmental issues, social responsibility and corporate governance issues. The integration of ESG factors helps to identify and manage risks linked to: climate change, working conditions, human rights, corporate governance, business ethics and other relevant factors.
At the beginning of 2023, Sustainability development department, with support of Risk department, has its first ESG risks assessment.

ESG Risks are a derived component of the DMA analysis that was created in the process of interviewing all involved departments in the process of detecting key issues related to some of the E, S or G aspects.
A strategic and proactive approach to managing operational and reputational risks aims not only to assess the scope of risks but also the scope of opportunities, within the context of reputation protection and the Group’s strategy.
In last several years, sustainability, besides digitalization, is confirmed as the main driver of innovation in the insurance sector, giving rise to specific opportunities and risks.