Palomar Holdings, a specialty insurance company, is committed to reducing its greenhouse gas (GHG) emissions. The company has conducted its first third-party assessment of its carbon footprint in partnership with ADEC Innovations, a corporate sustainability consultant. The company's analysis addresses both scope 1 and scope 2 emissions, as well as scope 3 emissions generated by suppliers, business partners, and investments.

In 2022, Palomar Holdings reported scope 1 emissions of 98.11 tCO2e/year, scope 2 emissions of 143.71 tCO2e/year, and scope 3 emissions of 6,527.06 tCO2e/year. The cumulative CO2e emissions across Scope 1, 2, and 3 amount to 6,768.88. The company is consulting outside experts and its Board of Directors to understand options for offsetting its carbon footprint. In 2023, Palomar Holdings will focus on reducing its environmental footprint through efficiency measures and new technologies. The company will continue to measure its emissions and set annual goals to reduce waste and emissions.

Palomar Holdings has taken several steps to reduce its emissions and the company has implemented underwriting guidelines and criteria to mitigate climate change risks. It has also employed a robust reinsurance program to address and mitigate the risk of climate change impacting its business. Additionally, the company uses a leading photo and video verification platform for residential inspections, reducing its carbon footprint by eliminating the need for physical inspectors. Palomar Holdings offers a hybrid work environment to its team members, which not only addresses their changing needs but also reduces the company's carbon footprint.

The company recognizes the impact of climate change on extreme weather events and the geographical distribution of such events. Palomar Holdings applies the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) in its corporate reporting on climate change. The company sees an opportunity to lead the industry and partner with stakeholders to build a more sustainable future. It offers climate change-informed products and services to help customers understand and manage their exposure to climate risks. The company has pledged that a minimum of 1% of the overall investment portfolio will consist of "green" investments. In 2023, there is a commitment to double green investments, ensuring that no less than 2% of the overall portfolio is allocated to these instruments.

Overall, Palomar Holdings is committed to reducing its GHG emissions and taking proactive measures to address climate change risks. The company's efforts align with its goal of building a more sustainable and secure future while providing climate change-informed insurance solutions.

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