In 2024, Ageas completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Ageas has also provided a category-level breakdown for 9 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 16,238a | 11,342a | 10,309b | |
Total Scope 2 | ||||
Market-Based | 5,368a | 934a | 760b | |
Location-Based | 35,153a | 4,666a | N/A | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 5,290,964a | 961,552a | 10,624b | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.8067a | 1.3004a | 1.9759b |
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In 2024, the total operational greenhouse gas (GHG) emissions of Ageas amounted to 51,391 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Ageas increased by 221.03%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Ageas were 16,238 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Ageas's Scope 1 emissions have increased by 27.11%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Ageas's Scope 1 emissions increased by 43.17%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Ageas reported Scope 2 greenhouse gas (GHG) emissions of 5,368 tCO₂e using the market-based method and 35,153 tCO₂e using the location-based method.a
Compared to the previous year (2023), Ageas's Scope 2 emissions (Location-Based) rose by 653.39% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energya
In 2024, Ageas reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Ageas reported 5,290,964 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Ageas includes a breakdown across 9 of the 15 Scope 3 categories defined by the GHG Protocol, up from 7 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Ageas reported total Scope 3 emissions of 5,290,964 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 1.09% of these emissions originated from upstream activities such as purchased goods and capital goods, while 98.91% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Ageas's Scope 3 emissions have increased by 33,995.66%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Ageas's Scope 3 emissions increased by 450.25%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Ageas reported emissions for 9 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Ageas's Scope 3 emissions were:a
In 2024, Ageas reported Scope 1 greenhouse gas (GHG) emissions of 16,238 tCO₂e and total revenues of USD 8,988 millions. This translates into an emissions intensity of 1.81 tCO₂e per millions USD.a
In 2024, Ageas reported a Scope 1 emissions intensity of 1.81 tCO₂e per millions USD. Compared to the peer group median of 0.3, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Ageas ranked 23 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Ageas among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, Ageas reported a total carbon footprint of 5,342,355 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 446.5% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Ageas's total carbon footprint was Scope 3 emissions, accounting for 99.04% of the company's total carbon footprint, followed by Scope 2 emissions at 0.66%.a