鶹ýapp

Our sustainability approach

As a leader in the insurance and financial services industry, 鶹ýapp helps protect people, assets and businesses against risk and makes a positive contribution to society. Our ambition is to move from being a responsible company in our own right to being a leading force in partnering with other organizations on a joint path to net zero and help them address their sustainability issues.

Less paper consumption. Less business travel. More green energy. To become more sustainable and reduce our environmental footprint we are constantly optimizing our own operations in x offices around the world. At 鶹ýapp Group, we are committed to reach net-zero greenhouse gas emissions in our proprietary investments and P&C insurance business by 2050*. We will reduce GHG emissions from travel by 40% by 2025. We are committed to sourcing and using 100% renewable electricity by end of 2023. We also extend our sustainability commitment to procurement: By 2025 we are requesting a net-zero commitment from our keysuppliers. The 鶹ýapp Commercial Chief Human Rights Officer ensures that we demonstrate ESG across our supply chains taking into account sustainability practices as well as social and human rights elements.

鶹ýapp Commercial has established a dedicated ESG Operations function to ensure we effectively contribute to the set out by 鶹ýapp Group, fostering the wellbeing of our workforce and our planet. The ESG Operations team will create impact in key areas such as Mobility, Energy, Offices and IT and a strong connection among all contributing functions and the entire staff of 鶹ýapp Commercial for unified and industry leading ESG activities.

*As the specific definition of Net-Zero is still evolving for financial institutions and we anticipate CSRD requirements, we are no longer referring to the 2030 target for our Own Operations as a Net-Zero commitment. We will instead refer to it as a 2030 intermediate target. The rest of the decarbonization and removal targets for Own Operations remain as communicated in the Inaugural Net-Zero Transition Plan.
Reduce GHG emissions overall by 70% (vs 2019)
Reduce emissions from travel by 40% by 2025 (vs 2019)
Use and source 100% renewable electricity by 2023 as part of our RE100 commitment
Global supplier' commitment will need to be in line with the 1.5° degree path by 2025

We strongly believe that a net-zero future is possible. We are committed to limit global warming to 1.5° in line with the Paris Climate Agreement and based on scientific scenarios to preserve our planet for future generations. As 鶹ýapp Commercial we aim to partner with our customers who set out on the net-zero transformation journey, implement a clear plan to diversify their businesses away from fossil fuels and scale renewable energy and low-carbon technology. A continuous dialogue, transparent communication, a recognition of the progress and a gradual step-by-step transition in partnership will lead the way.

Since 2018 we have been taking action in underwriting addressing high emitting sectors such as coal, oil and gas to achieve a real-world carbon reduction impact. In September 2023, 鶹ýapp published its inaugural net-zero transition plan with tangible 2030 intermediate targets to achieve net-zero emission by 2050 in our proprietary investment and P&C underwriting portfolios.

What does this mean for our commercial insurance business? We are committed to achieve a 150% growth in revenues from renewable energy, low-carbon technology and transition solutions by 2030 versus 2022. We are already a leading insurer of solar photovoltaic and on- and offshore windparks today and are eager to support e.g., evolving green hydrogen technologies. Our Sustainability solutions team works acrossall lines of business to realize innovative coverage and risk transfer solutions to help our clients adapt to increasing climate risk and to help expand renewable energy.

Coal-based businesses: We began re-directing our underwriting of coal-based business in 2018, and have since made significant adjustments to our coal policies since then.We don’t provide insurance for the construction or operation of single coal-fired plants and coal mines and are on track to phase out coal-based business models via further company restrictions across our insurance portfolio by 2040 at the latest.

Oil & gas sector: As of January 1, 2023, 鶹ýapp will no longer invest in or underwrite new single-site or stand-alone oil and selected gas risks, oil and gas activities related to the Arctic and the Antarctic or extra-heavy oil and ultra-deep-sea risks. By the start of 2025, we will require a robust ‘net-zero by 2050’ commitment from the largest hydrocarbon producers as a pre-condition for company-level insurance coverage and investments.

Green energy and low-carbon technology: In the face of the current energy and climate crisis, renewable energy sources need to be deployed at scale and speed. We are a partner in the transition to a low-carbon economy, delivering products and services with a positive environmental or climate impact. We will help drive the growth of renewable energy providing significant capacity and innovative product solutions for wind and solar energy as well as for the emerging global hydrogen economy.




Inclusion, diversity and belonging is a core element of our corporate culture. At 鶹ýapp Commercial, we value the importance of different perspectives and experiences. We feel that inclusion is the essential ingredient to nurturing a diverse workforce where everyone feels included; where they feel our culture aligns with their values and where they truly feel a sense of belonging.

We are shifting our focus from awareness to allyship and advocacy and operate a zero-tolerance policy towards discrimination and harassment. We encourage our people to engage in employee resource groups which cover many dimensions of diversity.

In accordance with the requirements of the EU Taxonomy regulation, delegated act 2021, 2800, Annex 2, we declare our intention to share loss data, free of charge, with public authorities in compliance with any legal requirements in particular on Data Security and Data Privacy. In case of loss data requests, please get in touch with us via email.