GlobalData offers a comprehensive analysis of Swiss Re, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Swiss Re‘s ESG performance. GlobalData’s company profile on Swiss Re 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.

Swiss Re, a leading global reinsurer, has committed to achieving net-zero greenhouse gas (GHG) emissions across its operations by 2050. Swiss Re's latest filings mentioned the keywords 'Emissions' and 'Carbon' most number of times in relation to 'Net Zero'.

In 2022, the company reported Scope 1 emissions at 2,902 tones CO₂ equivalent and Scope 2 emissions at 64 tones CO₂ equivalent (market based) and 26,103 tones CO₂ equivalent for Scope 3 emissions. The company has set near- and long-term, science-based reduction targets aligned with a 1.5°C-compatible pathway, and is supporting the development of carbon removal solutions through early engagement.

Swiss Re has already taken steps to reduce its carbon footprint, including sourcing 100% renewable electricity and cutting air travel. The company has also established a co-investment programme with a German bank to facilitate the financing of renewable energy projects, and has supported six renewable energy projects, contributing 1,300MW of additional power generation. Swiss Re has worked with the International Finance Corporation to structure a five-year parametric earthquake cover for the construction of a 216MW hydropower project in Nepal, which is expected to boost the country's renewable energy production and reduce energy-related GHG emissions. The company has also helped develop an insurance solution for reforestation activities carried out by a Brazilian NGO, providing the client with frost and fire insurance cover for the amount used to finance its reforestation activities. Swiss Re's Responsible Investing strategy is built on three cornerstones: climate action, enhancement, and inclusion.

In conclusion, the company integrates Environmental, Social, and Governance (ESG) criteria along its investment process, aiming to generate higher risk-adjusted returns over the long term. Swiss Re's carbon intensity reduction for its corporate bond and listed equity portfolio relative to 2018 was 42%, and it has deployed additional capital based on original face values relative to 2019 to be achieved by 2024. The company has set targets for listed equity and corporate bond portfolio relative to YE 2018 for Scope 1 and 2 emissions to be achieved by YE 2024. Swiss Re's CO2NetZero Programme focuses on a dual strategy: "Do our best, remove the rest". The company has a triple digit internal carbon price, a Carbon Steering Levy, and engages employees on net zero through its NetZeroYou Programme.

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