Zurich is a key voice on climate change in the global insurance industry, providing clear leadership and support on the decarbonising agenda and achieves this impact through a range of forums and initiatives.
- For example, Zurich has instigated an innovative programme to enhance resilience in communities most vulnerable to flooding. Zurich employees provide risk management expertise, working alongside the International Federation of Red Cross and Red Crescent (IFRC) and Practical Action in urban and rural locations in the region of Tabasco in Mexico, and in West Java in Indonesia. By increasing skills, knowledge and resources, communities can actively mitigate, prepare for and even prevent some of the impacts of floods. This programme has been recognised by the UN’s Framework Convention on Climate Change as an outstanding “Momentum for Change Lighthouse Activity”.
- Zurich Insurance has designated up to 10 percent of its private equity investments for impact investments that result in positive social and environmental outcomes. Zurich has also committed to invest $2 billion in green bonds and by March 2015 a total investment of $681 million had already been achieved, making it the largest corporate investor in this market.
- Zurich reduced its carbon footprint per employee by 25% between 2007 and 2013. Zurich subsequently set a new target of reducing carbon output by 50% per employee by 2020. In addition, Zurich has become carbon neutral, reaching the milestone at the end of 2014 through ambitious internal carbon emissions reduction efforts and by using a forestry project in Indonesia to offset emissions that cannot be eliminated.