HAYAH Insurance (HAYAH) has launched its “Aiming HAYAH: 2030” initiative.
For its climate action goals, HAYAH shared that it aims to allocate 10 per cent of its portfolio to green bonds, renewable energy projects, and sustainable infrastructure, concurrently reducing its fossil fuel investments by half.
Further, it aims to achieve carbon neutrality within its operations by the end of the decade, reducing emissions and investing in projects that offset its carbon footprint.
It also noted that HAYAH’s “ethical compass” will guide its underwriting process by 2027, ensuring that environmental and social impacts are integral to its decision-making.
By 2028, HAYAH will also fully integrate Environmental, Social, and Governance (ESG) criteria into its investment policies and risk assessments.
In addition, by 2024, HAYAH Insurance said it will “foster a robust culture of sustainability.”
“HAYAH is committed to educating its employees, promoting green practices in the workplace, and inspiring involvement in the sustainability journey,” it said.
HAYAH has pledged to engage stakeholders comprehensively by 2025, it added.
Financial literacy and inclusion remain “crucial” to HAYAH’s community initiatives, it said. By 2024, HAYAH will offer insurance products designed for those previously without access, facilitating better risk management and financial well-being.
By 2026, HAYAH also aspires to support community projects focusing on sustainability, education, and health.
“Sustainability is more than a goal; it’s a promise for a better tomorrow. At HAYAH Insurance, we are committed to this promise, setting definitive goals that will shape our operations and community interactions for years to come. We invite our partners and customers to join us in this vital transition, as we turn the pledges of today into the achievements of tomorrow,” commented Mohamed Seghir, CEO.