sustainability news

Group Chief Risk Officer Patrick Raaflaub looks back on Swiss Re’s key sustainability achievements in 2023 and discusses the company’s two main ambitions: advancing the energy transition and building societal resilience.

Read the interview.

The Sustainability Report 2023 provides transparency on progress made in implementing the Group Sustainability Strategy during the year.

Read more here.

We have set near-and medium-term targets related to our ambition to reach net zero in underwriting by 2050. The goal of our targets is to increase the share of companies aligned to net zero by 2050 in our single risk re/insurance portfolios. We have set near-and medium-term targets related to our ambition to reach net zero in underwriting by 2050. The goal of our targets is to increase the share of companies aligned to net zero by 2050 in our single risk re/insurance portfolios.

Read more here.

Solar power only functions when there is sunlight. The unpredictability of cloud coverage has cash-flow and revenue implications for solar plant operators. Swiss Re is pleased to have partnered with insurer Etiqa in creating the Solar Energy Shortfall (SESI) parametric insurance cover, the first of its kind in Malaysia. The product provides index-triggered protection against sunlight shortfalls, compensating insured solar farm operators for financial losses due to lower-than-expected levels of sunshine.

Read more here.

We have launched a new Centre of Competence for Renewable Energy, aiming to help clients navigate a complex risk landscape through the energy transition.

The Centre of Competence for Renewable Energy entre builds on Swiss Re's existing expertise to form a dedicated team that can help clients manage their renewable energy portfolios. Working through existing underwriting teams, clients can leverage the centre for efficient capacity coordination and access to cutting-edge knowledge, while maintaining their existing local relationships.

Read more here.

Swiss Re Capital Markets worked with the World Bank and the Republic of Chile to secure USD 630 million of earthquake protection through a combination of parametric cat bond and catastrophe swaps. The transaction provides Chile with financial protection to mitigate the potentially disruptive economic impacts of earthquakes and resulting tsunamis.

Read more here.

Led by Swiss Re Public Sector Solutions in partnership with Guy Carpenter, Swiss Re Corporate Solutions is providing parametric coverage for excess rainfall and storm surge events that can lead to severe flooding in New York City's high-flood-risk neighbourhoods. This pilot programme provides eligible New Yorkers in low- and moderate-income (LMI) communities with emergency cash funds after a major flood.

Read more here.

Together, our Sustainability Report 2022 and climate-related financial disclosures (TCFD), which are fully integrated into our Financial Report 2022, present a detailed account of our company's performance with regard to sustainability, and climate change in particular.

Read more here.

To find out more about Swiss Re's result and the Dow Jones Sustainability Indices, please click here.

As of this year, the world still needs to invest cumulatively more than USD 270 trillion in decarbonisation actions if net-zero 2050 ambitions are to be met. With our industry-first "decarbonisation tracker", we monitor progress on decarbonisation through the lens of investment. The novelty of our approach is that we collate existing estimated investment needs and match this with actual investments in decarbonisation made to date. This provides a window into the progress still needed to get to net zero, as well as the magnitude of the uncertainty.

Read more here.

The First Movers Coalition, a flagship public-private partnership to clean up the most carbon-intensive industry sectors, from heavy industry to long-distance transport, announces a major expansion to more than 50 corporate members worth about $8.5 trillion and a total of nine leading governments, including the US, covering over 40% of global GDP.

Read more here.

Together, our Sustainability Report 2021 and climate-related financial disclosures (TCFD), which are fully integrated into our Financial Report 2021, present a detailed account of our company's performance with regard to sustainability, and climate change in particular.

Read more here.

As part of our Annual Report 2021 package, we recently published our climate-related financial disclosures (TCFD). These disclosures aim to improve investors’ and other stakeholders’ ability to appropriately assess and price climate-related risks and opportunities in Swiss Re's re/insurance business, investment activities and operations.

Learn more about the disclosures here.

Taking our net-zero by 2050 commitment seriously means taking steps to decarbonise now. In 2018, we already communicated how we deal with coal as the largest greenhouse gas emitter and how we transition out of that sector. Oil and gas are the other two key man-made sources of emissions. 

Read more here.

Swiss Re climbs to second rank in the S&P Global Corporate Sustainability Assessment among re/insurers and remains a constituent of the DJSI.

Read more here.

Swiss Re and Climeworks, a leading specialist in carbon dioxide air capture technology, are partnering to combat climate change. The partners signed the world’s first long-term purchase agreement for direct air capture and storage of carbon dioxide, worth USD 10 million over ten years. For Swiss Re, the collaboration marks a milestone towards its goal of reaching net-zero emissions in its own operations by 2030.

Read the full article here.

The current climate crisis requires all hands on deck. Institutional, long-term investors have an important role to play in achieving the net-zero emissions target and can have an amplifying impact with their substantial collective asset base. By outlining the latest considerations on our way to reducing greenhouse gas emissions and financing the transition to a low-carbon economy, we aim to help accelerate the collaboration needed to achieve a 1.5°C world.

Read the full article here.

As a signatory to the Paris Pledge for Action and the UN Global Compact Business Ambition for 1.5°C, as well as a co-founder of the UN-convened Net-Zero Asset Owner Alliance (AOA) Swiss Re is supporting the transition to a low carbon economy and is committed to achieving net-zero emissions on the asset and liability side by 2050 and on the operations side by 2030.

Read the full article here.

To limit global warming to 2015 Paris Accord levels, the world's net emissions of greenhouse gases need to drop to zero by 2050. A new report published by Swiss Re Institute is the first appraisal of the carbon removal topic from an insurance perspective, and further cements Swiss Re's thought-leadership in the climate space.

Read the full article here.

Our Sustainability Report 2020 describes our Group Sustainability Strategy and reviews the actions we have taken to implement it.

Read the full article here.

Our updated coal policy limits coal exposures in treaties and schedules a total phase-out of thermal coal related re/insurance and investments in OECD countries by 2030, and in the rest of the world by 2040.

Read the full article here.

CDP recognises Swiss Re for its actions in cutting emissions, mitigating climate risks and supporting development towards a low-carbon economy.

Read the whole story here.

Dow Jones Sustainability Indices rank Swiss Re fifth in the re/insurance industry in 2020 and leading reinsurer.

Read the full article here.

Last year, we committed ourselves to achieving net-zero emissions in our operations as early as 2030 and are now taking important next steps: Starting in January 2021, we will increase our internal carbon price from USD 8 to USD 100 per tonne of CO2, and have committed to reducing emissions from air travel by 30% in 2021, relative to the 2018 benchmark.

Learn more about these measures and watch a video explaining the concept of net-zero emissions here.

Swiss Re has once again been recognised by the United Nations' Principles for Responsible Investment for its accomplishments in the field of responsible investing.

Read the full article here.

On the journey towards decarbonising our business model, measuring the carbon footprint of our liabilities and assets is a key requirement. In an industry-wide effort we have helped produce a CRO Forum report discussing different carbon footprinting methodologies that re/insurers may apply to their underwriting portfolios.

Read the full article and get access to the report here.

Sustainability is more than tackling climate change or deploying renewable energy. While dealing with the climate crisis is one defining challenge of the century, stopping biodiversity loss and the decline of natural ecosystem services is another. Natural World Heritage Sites (WHS) are a good place to foster protection, as measuring and managing our socio-economic footprint in World Heritage Sites helps us to learn from our experience and apply this to areas outside WHS.

Read the full article here.

In 2019, we made three interlinked commitments to reach net-zero emissions across the whole company. With this comprehensive set of commitments we are dedicated to fully decarbonise our business model in line with climate science and the Paris Agreement.

To explain the concept of net-zero emissions, we have produced a video.

Go to the full article and watch the video here.