The aim of CSRD is that large and mid-sized companies – including insurance companies, at varying stages depending on size – must report and publish their sustainability efforts in accordance with mandatory standards set by the EU.
Here’s a brief overview of how we’re preparing for CSRD and how sustainability is embedded in our work at Scalepoint – because it directly affects our collaboration with insurers.
What CSRD is and how it impacts our work with insurers
CSRD introduces new requirements around risk assessment, value chain follow-up, and reporting on environmental, social, and governance impacts. These requirements will be elaborated through a series of standards adopted over time by the European Commission. We understand that insurance-specific CSRD standards will be introduced between 2024 and 2025.
Scalepoint is actively mapping out how we can support our customers in meeting these new obligations. We’re closely following developments and continuously adapting our services and business practices to align with new expectations.
How we work with sustainability at Scalepoint
At Scalepoint, sustainability is a core part of our day-to-day operations.
The sustainability initiatives that have the most impact for a company like Scalepoint are: using green electricity, choosing the right suppliers, and being a responsible employer to our people.
To ensure a consistent approach to managing and evaluating our sustainability efforts, we work with EcoVadis – the world’s largest and most trusted provider of corporate sustainability ratings. This year again, we completed a CSR report certified by EcoVadis and received a Silver Medal rating. This places us in the 89th percentile of companies rated by EcoVadis. As EcoVadis continuously raises the bar in their medal rating system, maintaining our current level requires ongoing investment in sustainability. So far, we’ve assessed that a Silver Medal is appropriate for Scalepoint, given the nature of our services and our relatively limited (negative) sustainability footprint compared to other industries.
In addition, several of our solutions include built-in sustainable features that support insurers’ CSR strategies. Examples include:
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Setting up special networks of suppliers and service partners (property, motor, contents) that offer greener alternatives
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Labelling of products and suppliers by energy rating and use of digital gift cards
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Supporting repairs instead of replacing products or parts (property, motor, contents)
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Enabling various assessment formats to reduce travel
If you’d like to understand how your risk assessments relate to the services you receive or could receive from Scalepoint, feel free to reach out. Together, we can ensure that we support your compliance with the new requirements.