Our topics, targets and achievements

For all of our Sustainability Topics we have set targets – some of them quantitative, others qualitative. Below, we briefly describe why these topics are important for Swiss Re, the targets we have set for them, what we achieved during the reporting year, and their principal links to the SDGs.

Mitigating climate risk and advancing the energy transition

The effects of climate change and global warming are already evident and shaking up our risk landscape: warmer average temperatures, rising sea levels, longer and more frequent heatwaves and more weather extremes. We continue to evolve our way of doing business towards a low-carbon economy in line with our net-zero commitments and the Paris Agreement. Our key objectives are:

• We aim to become the leading re/insurance company on physical climate risk.
• We aim to become a leading provider of re/insurance solutions for low-carbon transition opportunities.
• We build partnerships to develop scalable solutions to mitigate and adapt to climate change.

Links to the UN Sustainable Development Goals*

Building societal resilience

Technological and economic development, population growth, ageing populations and other societal trends are putting people and assets in jeopardy. With our re/insurance solutions and investments we help reduce societal vulnerabilities. Our key objectives are:

• We provide affordable health and longevity solutions to our customers to ensure healthy lives and to promote wellbeing across all age groups.
• We support sustainable agriculture and enhance livelihoods across the re/insurance value chain through our risk knowledge and solutions.
• We facilitate sustainable and resilient infrastructure through our risk transfer products.

Links to the UN Sustainable Development Goals*

Driving affordable insurance with digital solutions

Our customers are seeking quick, intuitive and streamlined digital experiences to make their lives safer and healthier. With our digital solutions we increase the availability and affordability of re/insurance and risk knowledge worldwide. Our key objectives are:

• We leverage technology to provide affordable cover for more types of risks across all income levels and ensure efficient claims handling.
• We apply smart analytics and devices to enhance our risk knowledge and advice to improve risk prevention, mitigation and crisis management.
• We develop digital best practices, integrate ethical aspects into our digital business and provide solutions to manage the risks of digital societies.

Links to the UN Sustainable Development Goals*

Managing sustainability risks

Sound risk management is essential for a re/insurer. Besides the core categories of our risk landscape (insurance, financial market and credit risk), we also pay attention to other significant risks we may be exposed to, including sustainability risks. Even when absolutely legal and economically beneficial, any business activity we undertake may also have unintended social and environmental consequences, which we define as sustainability risks. We manage these risks through our Sustainable Business Risk Framework, an advanced risk management instrument. The assessments flow directly into our re/insurance and investment decisions.

Links to the UN Sustainable Development Goals*

Investing responsibly

Institutional investors such as re/insurers are naturally suited to investing responsibly because of their businesses’ long-term nature. Swiss Re systematically integrates environmental, social and governance (ESG) considerations along the investment process through its three-cornerstones approach: Enhancement, Inclusion and Exclusion.

Links to the UN Sustainable Development Goals*

Driving sustainable operations

As a leading global re/insurer, we are directly affected by the consequences of climate change. Based on our strong commitment to sustainability, we consider it important to reduce the environmental impact caused by our own operations, thus leading by example. Tackling our CO₂ emissions and reducing energy consumption have been key targets across the Group, reflected by our pioneering initiatives such as the Greenhouse Neutral Programme, the CO_you2 Programme and co-founding RE100. In 2019, we took another major step by committing to reach net-zero emissions in our operations as early as 2030.

Links to the UN Sustainable Development Goals*

Engaging our people

We are an organisation where diverse talents come together globally to apply fresh perspectives and knowledge to “make the world more resilient”. For this it is imperative that we build an engaged, inclusive and adaptable organisation. Throughout the year, we check in with our employees through pulse surveys to measure progress, which also gives them an opportunity to engage in dialogue and share ideas for improvement.

Links to the UN Sustainable Development Goals*

Ensuring good corporate governance and compliance

We consider good corporate governance a key precondition to ensure sustainability throughout the Group’s activities and indispensable to maintaining long-lasting, valuable relationships with our stakeholders. We conduct business ethically and with integrity, applying the principles of our Code of Conduct and complying with all applicable laws.

Links to the UN Sustainable Development Goals*

Fostering resilient societies: the Swiss Re Foundation

The Swiss Re Foundation partners with NGOs, social entrepreneurs, foundations and academic institutions. To help build resilient societies, the Foundation offers its partners tailored grant funding and access to Swiss Re’s expertise. Its initiatives address three focus areas: natural hazards and climate risk management, access to health and income opportunities, and innovation to build resilience. The Foundation operates in regions where the protection gap is biggest – in emerging and developing countries and where Swiss Re has offices.

Links to the UN Sustainable Development Goals*