At Hannover Re responsibility for the topic of sustainability rests with the entire Executive Board. The Environmental Management Officer, the Compliance Officer and a member of staff entrusted with the corporate governance function report on a regular basis to the Executive Board. In addition, the sustainable value creation of Hannover Re is ensured by a comprehensive risk management system with established reporting structures.
In its business operations Hannover Re not only complies with applicable laws but is also guided by voluntary guidelines such as its Code of Conduct, which is applicable Group-wide. Hannover Re takes its lead from the guidelines of the International Labour Organization (ILO) and the principles of the UN Global Compact, most importantly with respect to the observance of human rights and in the management of its investments.
By requiring suppliers to comply with Hannover Re's Code of Conduct for Suppliers, the Group is seeking to promote sustainability throughout its entire value creation process.
An interdisciplinary working group takes responsibility for preparing the orientation of Hannover Re's sustainability strategy and for defining appropriate operational measures. The working group is composed of representatives from various specialist departments at the Hannover location. Its members come together as a whole for the annual strategy review and, on a case-by-case basis, in various constellations depending on the tasks at hand. Each member has committed to advance the goals of the Sustainability Strategy within his or her specialist area.
Hannover Re continuously reviews and reduces the impacts of its business operations on the environment through its environmental management system. Reporting directly to the Executive Board, the Environmental Management Officer is responsible for ongoing refinement of the environmental management system; he also coordinates and advises on compliance with all legal provisions in Germany relating to the environment and takes responsibility for annual conduct of the audits that are obligatory under the management system.
The company's environmental management system, which was certified according to DIN EN ISO 14001, has been in place at the Hannover location since June 2012 to ensure protection of the environment. In 2015 the Group changed over to the more extensive environmental management system EMAS (Eco-Management and Audit Scheme). The annual Environmental Statement in accordance with the EMAS III Regulation is published on Hannover Re's website and in the EMAS Register. In 2016 the environmental management system was validated for the first time by an external environmental verifier pursuant to the more comprehensive EMAS III Regulation.
Major features of EMAS include a rigorous orientation towards continuous improvement of environmental efficiency, the use of consistent performance indicators in relation to key environmental aspects as well as verification of compliance with legal requirements.
The standards set out in Hannover Re's Environmental Management Manual and in the supplementary instructions are mandatory for all managers and staff at the Hannover location.
As part of Hannover Re's commitment to society, an internal national and international Donations Policy ensures that the company's social engagement primarily benefits the common good.