GlobalData offers a comprehensive analysis of Fairfax Financial, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Climate Change and associated ESG keywords, GlobalData delivers valuable information on Fairfax Financial‘s ESG performance. GlobalData’s company profile on Fairfax Financial offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Fairfax Financial, a Canadian holding company, has set an emission reduction target for its operations including specific goals related to scope 1, scope 2, and scope 3 emissions. The company has already taken steps to reduce its carbon footprint, including investing in carbon offset projects and implementing carbon footprint management initiatives. Southbridge achieved a significant milestone in 2021, becoming Chile's inaugural carbon-neutral insurance company by measuring and offsetting its carbon footprint. Fairfax Financial's latest filings mentioned the keywords 'Climate Change' and 'Emissions' most number of times.
The company has highlighted that 95% of its companies have at least one or more environmental initiatives in place, such as waste reduction schemes, recycling facilities, and energy-efficient appliances. Fairfax is also preparing for the disclosure of scopes 1, 2, and parts of 3 carbon emissions, which is expected to be mandated by securities law in 2023. The company aims to divert 99.6% of refurbishment and demolition waste away from landfills. Fairfax is also working on calculating its carbon footprint and expects to work with all its operating subsidiaries required to report emissions in 2024.
To achieve its emission reduction targets, Fairfax Financial plans to continue investing in carbon offset projects and implementing carbon footprint management initiatives. The company's subsidiaries have also been proactive in partnering with ecological organizations. Fairfax is also examining both physical and transitional risks associated with climate change and has put in place underwriting guidelines for its Europe and Asia Pacific operations consistent with the Paris Climate Agreement objectives.
In conclusion, Fairfax Financial has set specific emission reduction goals and invested in carbon offset projects. Their focus on waste diversion, disclosure of emissions, and climate risk management showcases their dedication to sustainability.