Driving sustainable operations

2021 highlights:

Introduced our Carbon Steering Levy, setting an initial internal carbon price of USD 100 per tonne of CO₂


Entered into a partnership with Climeworks, signing a ten-year purchase agreement for direct air capture and storage of CO₂


35%

Share of carbon removals achieved in our emissions compensation mix


100%

Proportion of our Tier 1 and Tier 2 suppliers that have completed their ESG assessment


Launched our NetZeroYou2 Programme, resulting in more than 126 000 climate actions by our employees

We strive to minimise the environmental impact of our operations. Bringing operational CO₂ emissions to net-zero by 2030 is our key target.

As a knowledge company in the financial services sector, we do not cause significant environmental or social impacts through our own operations. Nonetheless, we believe that as a company committed to sustainability, we should minimise our operational footprint and lead by example through ambitious targets and measures.

For our core re/insurance business, climate change represents a key topic. For around 20 years, we have therefore focused on reducing our own CO₂ emissions and energy consumption.

We recently made a commitment to achieve net-zero emissions in our operations by 2030. Through our CO2NetZero Programme, we are taking continuous action both on emission reductions and carbon removal.

Furthermore, we apply sustainability guidelines to our supply chain activities and involve our employees in the Group’s net-zero efforts.

Sustainable operations: past milestones

The following selected milestones have marked Swiss Re’s journey to drive sustainable operations:


Achievements of our Greenhouse Neutral Programme:

  • Cutting CO₂ emissions

    Reduced our per-capita CO₂ emissions (Scope 1, Scope 2 and parts of upstream Scope 3) by more than half between 2003 and 2019 (ie pre-COVID level)

  • Carbon neutrality

    Compensated all remaining CO₂ emissions from Scope 1, Scope 2 and parts of upstream Scope 3 (in particular business travel) since 2003

  • Reducing energy intensity

    Reduced our energy intensity by almost 70% between 2003 and 2019 (ie pre-COVID level)

  • Full switch to renewable power

    Were using 100% renewable power by 2020

Carbon-cutting subsidies for our employees

Through our COᵧₒᵤ₂ Programme, which ran from 2007 to 2020, granted more than 33 000 subsidies to our employees for emissions-cutting investments


Driving sustainability in our supply chain

Completed an ESG assessment of all our Tier 1 and Tier 2 vendors and started an improvement dialogue

Additional information

Driving sustainable operations
Our CO2NetZero Programme
Focus: Partnering with Climeworks
Sustainability in our supply chain
Our NetZeroYou2 Programme