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Zurich Insurance Group Case Study

Sustainability is at the centre of the Zurich Insurance Group’s ethos and is part of the Group’s ambition to be known as one of the most responsible and impactful businesses in the world.   The Zurich Group has designed a sustainability strategy based around three transformational themes of which addressing the impacts of a changing climate is a key pillar alongside inspiring confidence in an increasingly digital society and preparing for new ways of working and the skills and solutions needed.

Building on Zurich’s 2017 position on thermal coal and aligned with the announcement that Zurich signed up to the Business Ambition for 1.5˚C Pledge - the first insurance company to do so - Zurich updated its position on some of the most carbon-intense fossil fuels in June 2019. In addition, Zurich has expanded its specialised Natural Hazard Risk Engineering capabilities and was the first insurer to add a dedicated natural-hazard assessment to its standard property risk engineering assessment services to help customers with practical implementation of risk mitigation and adaptation measures. Zurich also launched its Climate Change Resilience Services in 2020 to help businesses better prepare for current and future risks related to climate change.  The service allows Zurich to offer mitigation and adaptation solutions for weather events and climate effects, including wildfires, windstorms, floods, and rises in temperature and sea level. It also helps clients to implement sustainability measures at site level and withstand risks.

In November 2020, Zurich announced it has exceeded the original monetary target for its impact investment portfolio of USD 5 billion, and from now on will prioritise the impact this portfolio generates. This follows the commitment made in 2017 to build a portfolio that avoids 5 million metric tons of CO2 equivalent emissions annually and improves the lives of 5 million people every year.

Zurich measures its sustainability commitments thoroughly in order to ensure confidence in that what they say they do, and these approaches are embedded throughout the organisation.  The Dow Jones Sustainability Index (DJSI) ratings, which evaluates the sustainability performance of thousands of companies, rated Zurich as the number one company in the insurance sector for 2020.

Zurich - Sustainability