(Teleborsa) – The insurance company Zurich takes part in SANA, the 33rd edition of the International Biological and Natural Exhibition, of which it is a sponsor and with which it shares attention to organic and sustainable agriculture, with ad hoc coverage for companies in the sector. A commitment that is only the tip of the iceberg of the corporate strategy, aimed at reaffirming the Principles for Responsible Investments (PRI) of the United Nations, with the adherence to Sustainable Development Goals and the signature of Global Compact. An all-round commitment that, starting from the protection of the environment in all its facets, directs the group’s activities in the social and business fields. At the end of 2020, the Zurich Group achieved more than 5.8 billion dollars of impact investments.
He talked about it to Teleborsa Elena Rasa, Chief Underwriting Officer in Zurich, attended the main event of “organic” agriculture, at the Bologna Fair until tomorrow 12 September 2021.
Organic is a constantly growing segment and Italy is one of the European “champions” in the sector. What prospects in the context of the ecological transition strongly desired by the EU?
Italy is the first European country by number of farms dedicated to organic farming, with over 80 thousand operators, and the fourth EU country by area dedicated to organic crops (15,2% of total agricultural land, compared to an EU average of 7.5%). In the last ten years, the areas cultivated organically in Italy are almost double (+ 76% since 2010). Numbers that testify to the increasing importance of this segment for Italian agriculture. We expect this trend continues, strengthened by a new focus on health and well-being that the last few months have made us all rediscover.
Faced with an evolving scenario, however, we need a culture of risk able to adapt to the present: the risks to which companies active in the organic sector are exposed are many and diversified, and only one reduced percentage of the companies active in this sector is insured. We from Zurich We have always been committed to combating the phenomenon of underinsurance, with an ever wider offer and able to respond to ever more numerous and varied needs, sector by sector. Our participation in SANA gives voice, once again, to ours constant commitment for the development of a specific risk culture, which takes into account the characteristics and peculiarities of each activity.
Let’s talk about the risks associated with organic farming and the advantages offered by ad hoc insurance coverage …
From a survey we conducted on a panel of Italian farmers and breeders, i perceived risks as predominant in the agricultural sector are the lack of income, atmospheric events, disease or death of animals, damage to buildings and machinery, fire, theft and difficulty in finding labor. In a context of greater risk awareness Zurich wants to promote greater protection also in this key sector for the Italian economy and made in Italy with its distinctive and qualitative characteristics that make it unique in the world. To protect the operators of the sector in the face of these risks, Zurich Italia has therefore launched Zurich Agricultural Company, a solution co-created with the protagonists of the sector, ie companies and consortia, to respond to all their needs, guaranteeing their activities.
Aware of the specific risks faced day by day by the operators of organic and sustainable agriculture, we wanted to include in this solution a special allowance in the event of damage to products certified as organic. As for sustainable agriculture practices, we protect companies with photovoltaic systems against damage, including those resulting from fire and theft. It is therefore one adaptable solution to the specific needs of the individual operator, therefore able to protect a sector that is made up of unique realities, albeit united by the increasingly significant contribution offered to the country’s economy.
Zurich’s participation in SANA and in the Bio Revolution 2021 panel to emphasize your attention to the environment. How does this translate into your choices and the offer of your insurance products?
As an institutional investor, the group Zurich recognizes that it has a function with a significant impact on the real economy, which allows you to actively influence areas such as environmental protection, respect for human rights and labor rights. The Zurich group has been sensitive to sustainability issues for years being a signatory of the Global Compact and the Principles for Responsible Investments (PRI) of the United Nations and adhering to the Sustainable Development Goals of the United Nations. At the end of 2020, the Zurich Group made more than $ 5.8 billion in impact investments.
As a company we have recently issued new directives for our employees, which aim to reduce CO2 emissions 50% by 2025, with a saving of 40,000 tons per year, equal to what is captured each year by 2 million trees. For example, around the world, Zurich aims to reduce emissions related to air travel 70% compared to pre-pandemic levels, starting in 2022; communication with customers should become completely digital by 2025; the new ones company vehicles will be electric or hybrid, so as to eliminate internal combustion vehicles from our fleet by 2025; or, we will extend our program of sustainable buildings to another 50 properties by the end of 2022. We will then set a new energy efficiency target for our properties once we reach the goal of switching to 100% renewable energy at Group level over the next year.
Another example of our ongoing commitment to protecting the environment is the Zurich Forest initiative, launched in 2020, with the aim of planting more than 1 million trees for the reforestation of forests in Brazil. Our offer can only be marked by the same momentum: in May 2021, for example, we launched two new ones ESG investment lines, included in the unit-linked offer to integrate attention to performance with a responsible investment approach. The same policy Farm, which we present at SANA, has specific protections for those who practice forms of sustainable agriculture, such as the additional protection of photovoltaic systems, also for damage deriving from fires and theft.
Organic is synonymous with a healthy product, but it is often “ugly”. Can you tell us about the #StopFruitShaming campaign?
#StopFruitShaming aims precisely at overturn this conception: it is anti-ecological to demand the highest aesthetic quality in fruit and vegetables, it is to the detriment of the environment and sustainability, increasing food waste. The campaign therefore reworks the concept of “body positivity”, transposing it to the organic universe, playing and enhancing the small defects of organic fruit and vegetables. A pinch of irony, to point out how imperfection be, in this case, not only beautiful, but also healthy and sustainable.
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