Vienna Insurance Group continues to be listed in the Austrian VÖNIX sustainability index for 2020/2021. It has been included since 2005, the year the index was launched.
The sustainability strategy of Vienna Insurance Group (Wiener Versicherung Gruppe) covers all of its business activities, with particular importance given to environmental effects. For example, the VIG Group published its climate change strategy in May 2019, with a strict investment and underwriting guideline for the coal sector that is aimed at promoting the transition to an environmentally-friendly low-CO2 future. VIG Group is gradually withdrawing from the coal sector. It has not concluded any new policies for coal power plants or mines since the previous year, while simultaneously increasing investments in eco-friendly forms of investment.
“We are increasing investments in the areas of rail, wind power and hydroelectric power and will consistently continue our strategy of increasing so-called green bonds, regardless of the current coronavirus crisis,” stressed CEO Elisabeth Stadler. Special importance is given to environmentally relevant companies. “To us, sustainability means supporting innovative, environmentally-oriented sectors by providing protection against risks, such as the timber industry, for which we are one of the most important insurance partners in Austria. We feel this is necessary to promote a circular economy, as provided for in the EU Green Deal. We are also one of the market leaders in insurance for renewable energy generation systems,” explained Elisabeth Stadler.
The two VIG insurance companies in Austria also provide current examples of sustainability. Wiener Städtische's “ECO SELECT INVEST” and DONAU Versicherung's “Green Selection” offer novel unit-linked life insurance that has been awarded the Austrian ecolabel. Both fund policies only contain funds that bear the Austrian ecolabel.
VÖNIX is the sustainability benchmark for the Austrian stock market. The index includes domestic companies listed on the Vienna Stock Exchange that are leaders with respect to environmental and social activities. VÖNIX was launched in June 2005 as one of the first national sustainability indices and demonstrates the long-term benefits of sustainable management and sustainable investment. VÖNIX is based on the assessment of corporate sustainability.