If makes sustainability part of its strategy

Today, If presents its sustainability report for 2021. If has joined the Science Based Targets initiative and integrated sustainability in the company’s underwriting. The company focuses on initiatives that prevent damage and reduce emissions for customers and partners. 

If, the largest P&C insurance company in the Nordics, has worked with emission reduction since 2008. During the last years, the intensity and pace of the work has accelerated.

Sustainability is now part of our company strategy. In everything we do, we will continue to work to actively contribute to a more sustainable society

Morten Thorsrud, CEO, If

Last year, If joined the Science Based Targets’ initiative (SBTi), a worldwide initiative to drive ambitious climate action in the private sector by enabling companies to set targets in line with the Paris agreement. If is now working on the target setting to reduce emissions from the company’s investment portfolio, its partners and suppliers and from its daily operations.

Last year, If also incorporated ESG (Environment, Social and Governance) in its underwriting, meaning that corporate clients must respect human rights, labor rights, environment and anti-corruption. Companies that don’t comply, will have to find another insurer.

– We have a responsibility to guide our clients. We want to motivate all our corporate clients to comply with the UN Global Compact principles, Thorsrud states.

Other initiatives described in the sustainability report, are:

  • New goal to reduce business travel by 50% compared to 2019.
  • 32 000 digital photo inspections were conducted in 2021. Digital inspections replace driving to a repair shop to assess car damage. This reduced emissions corresponding to a car driving 25 laps around the Equator (1 million kilometres).
  • 3400 tonnes of metal and plastic were reused by If’s vehicle repair contractors as a result of environmental requirements in If’s Supplier Code of Conduct.
  • 26 000 house assessments were conducted in private households across the Nordics. Since 2012, If has conducted more than 184 000 house assessments, estimated to save 2630 tonnes in CO2 emissions by IVL Swedish Environmental Institute. The reduction corresponds to the avoidance of 14 million kilometres of car driving.
  • A number of other initiatives, such as employees buying used office furniture for their home offices, a new training program (One Responsible If) to educate all If employees in ethics, values and responsible business practices, and a new set of Charging Safety Rules made together with Norwegian authorities to ensure safe device charging and improved safety from fire at home.

If’s sustainability report is published only a day after IPCC’s (Intergovernmental Panel on Climate Change) 3rd global report on climate change. The topic in the report is Mitigation of Climate Change. The IPCC report is made by states that the window of opportunity to mitigate climate change is closing rapidly. 

  Philip Thörn photo.
Philip Thörn, Head of Sustainability , If

– The IPCC report shows that the situation is dire. We must do more. As the largest P&C Insurance company in the Nordics, we want to take leadership and show that it has an impact when huge companies work to reduce emissions in their investments, supply chain and own operations. It is about doing what is right, Thorsrud says.

More information about sustainability work

For the press

Are you a journalist seeking more information?

Please contact

Kristin Grøntoft, Manager for Sustainability Communication
+47 92 06 08 05, kristin.grontoft@if.no

Philip Thörn, Head of Sustainability
+46 10 60 37 768, philip.thörn@if.se