GlobalData offers a comprehensive analysis of MGIC Investment, 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 MGIC Investment‘s ESG performance. GlobalData’s company profile on MGIC Investment 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.

MGIC Investment, a leading provider of private mortgage insurance, has committed to continuing to evaluate and evolve its understanding of the increasing impacts of climate change on its business, its customers, and homeowners. MGIC Investment's latest filings mentioned the keywords 'Climate Change' and 'Emissions' most number of times.

The company completed its first GHG emissions assessment in 2022 to understand its baseline Scope 1 and 2 emissions. In 2021, the company reported Scope 1 emissions at 662 tones CO₂ equivalent, Scope 2 (market based) at 3,022 tones CO₂ equivalent, and Scope 2 (location based) at 2,865 tones CO₂ equivalent. The company has identified electricity and purchased steam as top emission sources, with emissions associated with its home office accounting for around 81% of its total GHG emissions, followed by its vehicle fleet (approximately 11%) and its distribution center (approximately 7%).

MGIC Investment is committed to continuing to evaluate and evolve its understanding of the increasing impacts of climate change on its business. It has taken steps to assess and implement energy reduction strategies throughout its real estate footprint. Through its diligent efforts to make improvements in its operations, the company has reduced its electricity usage by 37% since 2010. Recycling is a continuous effort, and the company has made strides to increase communication and awareness of recycling in its facilities. Recycling bins are available in all offices, conference rooms, communal kitchens, and co-worker lounges. The company works with a third party to collect and recycle hardware and equipment such as batteries, toners, laptops, monitors, computers, and other IT hardware.

MGIC Investment has described its approach to the incorporation of environmental risks into the underwriting process for individual contracts and the management of firm-level risks and capital adequacy. It has also identified non-modeled natural catastrophes by type of event and geographic segment (net and gross of reinsurance) and probable maximum loss (PML) of insured products from weather-related natural catastrophes.

In conclusion, MGIC Investment has continued to assess and implement energy reduction strategies throughout its building footprint. The company has made advances to improve communication and knowledge of recycling at its facilities.

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