Sustainability Framework 

Board of Directors 

Sustainability, including the related strategy for investments, products, and services, is a key responsibility of the Board of Directors. To this end, the Board is supported by four sub-committees: 

1. Nomination and Corporate Governance Committee: provides recommendations regarding environmental, social, and governance matters, as well as for the sustainability key performance indicators (KPIs).  

2. Remuneration Committee: provides recommendations on the remuneration policies, such as adding sustainability to performance indicators for (senior) management. The disclosure of the sustainability KPI and the related variable remuneration for senior management can be found here . 

3. The Risk and Capital Committee is responsible for overseeing and monitors risks, including those related to environmental, social and governance factors. 

4. The Audit Committee: reviews and approves the Annual Financial Statements including the CSRD compliant non-financial information disclosures. 

In addition, dedicated committees are established to oversee the management of the investment portfolio. 

Executive & Management Committees 

Ageas’s sustainability strategy forms   an integral component of the Group’s overall strategy. The Executive Committee is responsible for its implementation, working under the guidance of the Chief Development and Sustainability Office (CDSO. The Business Committee ensures that the sustainability action plans are effectively executed throughout the Group. 

Sustainability department and committees 

For the implementation of the Group’s overall strategy and to achieve the sustainability objectives,) the CDSO oversees all transversal initiatives in the domains of technology, business development and sustainability throughout the Group. As of April 2024, these domains have been consolidated under the oversight of MD Business Development within the Executive Committee. Additionally, Ageas has established dedicated steering committees to integrate sustainability into its operations. Several executive members assume key leadership positions within these committees, ensuring strong senior-level representation throughout the organisation.  

The ESG Steerco at Group level is chaired by the MD Business Development (Exco Member) and co-chaired by the CDSO. This Steerco reviews sustainability KPIs, new initiatives, and the multi-year budget outcome, preparing them for decisions by the Business Committee and Exco.  

In addition, in response to the new CSRD legislation, Ageas established the CSRD Steering Committee in 2023. Chaired by the Group CFO and CDSO, this committee is responsible for overseeing non-financial reporting.  

In daily operations, the group sustainability department is responsible for developing and implementing the sustainability strategy, working alongside local teams and experts in various corporate functions. This embedded approach facilitates the integration of relevant sustainability principles into the daily operating processes. The ESG Steercos brings all these functions together in periodic meetings to discuss progress on the various topics. 

Policies and guidelines 

Environmental, Social and Governance (ESG) factors are receiving increased attention from companies and investors. Information on our approach to various ESG aspects is provided in the policies and guidelines listed below. 

Reports 

To uphold trust in our organisation, we consistently disclose information regarding our ESG practices and performance in a transparent manner.