Our voluntary commitments: The UN Global Compact, PSI and PRI

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Our voluntary commitments: The UN Global Compact, PSI and PRI

We demonstrate our understanding of corporate responsibility to the outside world by the acceptance of international guidelines. The commitments we have voluntarily undertaken, such as our acceptance of the UN Global Compact, the Principles for Sustainable Insurance (PSI) and the Principles for Responsible Investment (PRI), form the framework of our corporate responsibility strategy.

The UN Global Compact

Since 2007, the Munich Re Group has committed to the ten principles of the United Nations Global Compact. These cover the areas of human rights, labour standards, environmental protection and combating corruption. The signatory companies believe they have a responsibility to meet defined minimum standards in these areas. With its Global Compact, the UN intends to make globalisation more social and more environmentally friendly. The annual Communication on Progress (COP) on the implementation of these principles within the Group (Communication on Progress, COP) is integrated into our Corporate Responsibility portal.

Principles for Sustainable Insurance (PSI)

Munich Re has played an active part in developing the Principles for Sustainable Insurance (PSI) of the United Nations Environmental Programme Finance Initiative (UNEP FI). These were introduced and launched at the UN Rio+20 conference in Brazil in June 2012. Munich Re is one of the initial signatories, and is a member of the PSI's Board. At this point in time, more than 90 companies and institutions around the world have signed up to the PSI. Its resolutions include criteria on environmental, social and governance issues (ESG). The criteria help the signatories' clients to operate in a more sustainable way.

Principles for Responsible Investment (PRI)

With the help of a holistic investment strategy oriented towards comprehensive ESG criteria, institutional investors can integrate into their investment decisions ecological and social aspects, along with topics related to good corporate governance. In 2006, we were the first German company to sign the UN Principles for Responsible Investment (PRI), which facilitate these goals. Implementation of the PRI for Munich Re is managed by our asset management arm, MEAG.

GRI Content Index: G4-15; G4-56; G4-HR1

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