The PZU Group is engaged in the activity of numerous organizations and associations. PZU is, in particular, active in the following organizations:
- Polish Insurance Association (PIU) – a self-governing organization of insurance undertakings to which all the insurance undertakings operating on the market belong; membership is compulsory;
- Polish Motor Insurers’ Bureau (PBUK) – an organization of insurance undertakings that do business in Poland, membership in PBUK is compulsory;
- Insurance Indemnity Fund (IIF) – its members are domestic and foreign insurance companies that conduct insurance activity on the Polish market in the area of mandatory MTPL insurance and mandatory TPL insurance for farmers, established in 1990;
- Polish Association of Listed Companies (SEG) – a self-governing organization of issuers that represents the interests of the companies listed on the Warsaw Stock Exchange. PZU has been a member since 2010;
- British Polish Chamber of Commerce – PZU has belonged to this business organization since 2016;
- The Heart Corporate Club – brings together companies that want to build strong competences in innovation;
Membership in the organizations listed above is of a strategic nature to PZU. The company supports the activities laid down in their articles of association and takes part in additional projects run by these institutions.
Description of cooperation with international public institutions:
- EBRD – European Bank for Reconstruction and Development. PZU Group companies cooperate with the EBRD and the European Investment Fund in financing projects. Within the framework of the 10-year subordinated bonds (10NC5) series A of PZU with a total value of PLN 2.25 billion, in 2017, the EBRD acquired PLN 300 million in securities;
- Qorus (formerly EFMA) – is a non-profit organization aimed at fostering innovation and cooperation among financial institutions around the world. It brings together banks, insurers, as well as technology and service providers. Membership in this organization gives PZU access to a wide network of contacts from various financial institutions around the world, conferences, reports, which enables the exchange of knowledge in the field of innovation in the financial sector including insurance.
- The Geneva Association – an international association of insurance companies (think tank), whose members are CEOs of insurance and reinsurance companies. PZU participates in events to identify and analyze key trends and areas of risk that may shape or affect the insurance industry, and has the opportunity to contribute to recommendations for the industry and policymakers;
- The World Economic Forum – an international organization for public-private cooperation. PZU’s participation in events dedicated to the exchange of opinions and discussion of contemporary world problems, with the aim of building initiatives for cooperation and global progress.
PZU has also been a signor of the Charter of Diversity since 1 July 2013. This is an international initiative to advance diversity and equal opportunity in employment regardless of gender, race, sexual orientation, ethnic origin, age, disability or religion.
PZU Group participation in sustainable development initiatives
The need to prevent climate change and adapt to the new conditions requires coordinated efforts by decisionmakers, businesses and the financial sector. That is why PZU takes active part in industry initiatives, is engaged in social consultations and issues opinions on draft acts concerning climate protection. In 2023, PZU became significantly more committed to external initiatives for sustainable development:
Since June 2017, PZU has been a signatory to the United Nations Environment Programme Finance Initiative (UNEP Finance Initiative). The global partnership between the United Nations Environment Programme and the financial sector serves the purpose of mobilizing the entire financial system (including the insurance sector) to act towards the achievement of sustainable development goals.
PZU has been working with the UNEP/GRID-Warsaw Center since April 2022. In 2024, PZU joined the next edition of the Climate Leadership program for the third time. PZU’s commitment to the 2024 edition of the Climate Leadership program was to expand educational activities and raise awareness among employees in the area of sustainable development.
Since May 2022, PZU has been a member of the United Nations Global Compact – the largest global initiative supporting sustainable business. Another Member of UNGC is Bank Pekao. PZU was involved in the Climate Positive initiative coordinated by the UN Global Compact Network Poland and participated, among other things, in the Sustainable Finance team.
Since June 2022, PZU has been the Partner for Sustainable Development Goals, initiated by the Ministry of Development and Technology.
PZU continued its participation in the Responsible Business Forum’s Partnership Programme. The program is a platform for development, knowledge acquisition, and networking and sharing of good practices in the area of sustainable development. More than 60 sustainable development leader companies in Poland participate in the Programme. PZU is also involved in the Chapter Zero Poland initiative coordinated by the Responsible Business Forum. It is the Polish branch of the international initiative entitled Climate Governance established by the World Economic Forum. It was formed to raise awareness concerning the consequences of climate change for the business community and its impact on the climate. In addition, since 2013 PZU has been a signatory to the Charter of Diversity, an international initiative under the auspices of the European Commission. The Charter is a pledge signed by employers who choose to prohibit discrimination in the workplace and work to create and promote diversity, and expresses the company’s willingness to involve all employees and business and community partners in these activities.
PZU continues to be involved in implementing the assumptions of the Polish Offshore Wind Sector Deal and Sectoral Agreement for the Development of the Hydrogen Economy in Poland. These projects have been initiated by the Ministry of Climate and Environment. They constitute a platform for inter-sector collaboration for Poland’s economic development, enhancing the competitiveness of Polish commercial undertakings and developing initiatives to ensure Poland’s economic and energy security based on low and zero emission sources of energy. One Member of PZU Management Board serves as member of the Offshore Wind Coordination Council.
The PZU Group systematically takes part in the dialog on sustainable development and finance. A PZU representative chairs the Task Force on Sustainable Finance at the Polish Insurance Association (PIU). PZU also chairs the Natural Disaster Risk Management Team, one of whose tasks is to support the Polish Financial Supervisory Authority (UKNF) in defining climate change stress tests. PZU is also involved in the works of the Polish Sustainable Finance Platform at the Ministry of Finance.
In February 2024, TFI PZU joined the ranks of members of the Sustainable Investment Forum Poland (POLSIF), whose mission is to work for the development of the sustainable investment and finance market in Poland by creating and disseminating best practices in this area. POLSIF is a non-governmental organization founded in 2023 by representatives of leading investment fund companies, banks, private equity funds, industry organizations and chambers, and academia. POLSIF is part of the pan-European organization – The European Sustainable Investment Forum (EUROSIF).
In November 2024, PZU joined an initiative that promotes transparency and accountability of the financial sector on greenhouse gas emissions. The PCAF initiative was established in 2015 by global financial institutions. As a result of this partnership, a common standard for counting the carbon footprint has been developed and tools have been implemented to assess the amount of greenhouse gas emissions associated with insurance, investments and credit.
Furthermore, the PZU Group is monitoring the activities of financial institutions and international organizations, i.e., the United Nations (UN), Organization for Economic Cooperation and Development (OECD) and the European Commission.