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European Climate Pact

Overview

Location

France

Sector

Banking, Financial and Insurance Services

Organisation type
Business

Company Information

SCOR is a global reinsurance company based n Paris, France. The group has 3,590 employees, and covers risks in more than 160 countries. SCOR generated 17.6 billion Euro in gross written premium in 2021.

Our progress towards decarbonization

 

GHG Emissions

Our actions – the Pathway

  • Scor SE has a target to reduce intensity of scopes 1 and 2 CO2e emissions 35% per unit FTE employee by 2022 from a base year of 2014

MRV: Pact MRV in place

Status date: Submitted (25/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 
  • Take action to align our portfolio to a 1.5°C world
  • Join the NetZero Asset Owner Alliance
  • Assess if  clients/investees’ business strategies are aligned to a well below 2-degree world
  • Have an engagement strategy to encourage our investees to set a science-based GHG emissions reduction targets
  • Have an exclusion policy to phase out all fossil fuels-related industries and activities in our portfolios by no later than 2030
  • Conduct analysis to understand the impact of our investment portfolio on the planet, in line with TCFD recommendations

MRV: Pact MRV in place

Status date: Submitted (25/07/2022)

Data source: CDP Climate Change 2022

 

Energy

Our actions – the Pathway

  • Scor SE has a target to consume 70% of electricity from renewable sources by 2025 from a baseline of 66% renewable electricity consumption in 2021

MRV: Pact MRV in place

Status date: Submitted (25/07/2022)

Data source: CDP Climate Change 2022

 

Governance & Strategy

North Star

  • Scor SE have a publicly available 1.5°C aligned low-carbon transition plan

MRV: Pact MRV in place

Status date: Submitted (25/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have a high-level management position with climate-related responsibilities
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (25/07/2022)

Data source: CDP Climate Change 2022