In 2024, Hanover Insurance Group 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).
Hanover Insurance Group has also provided a category-level breakdown for 1 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 | 4,589a | 4,732a | 5,023a | |
Total Scope 2 | ||||
Location-Based | 4,335a | 5,274a | 5,749a | |
Total Scope 3 | 2,014a | 1,516a | 1,294a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.7382a | 0.7935a | 0.9246a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Hanover Insurance Group amounted to 8,924 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 Hanover Insurance Group decreased by 10.81%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Hanover Insurance Group were 4,589 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Hanover Insurance Group's Scope 1 emissions have decreased by 26.74%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Hanover Insurance Group's Scope 1 emissions decreased by 3.02%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Hanover Insurance Group reported Scope 2 greenhouse gas (GHG) emissions of 4,335 tCO₂e using the location-based method.a
Since 2019, Hanover Insurance Group's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 33.61%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Hanover Insurance Group's Scope 2 emissions (Location-Based) fell by 17.8% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, Hanover Insurance Group reported its Scope 2 emissions using the location-based method.a
In 2024, Hanover Insurance Group reported 2,014 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 Hanover Insurance Group includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Hanover Insurance Group reported total Scope 3 emissions of 2,014 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Hanover Insurance Group's Scope 3 emissions have decreased by 18.13%, reflecting a declining long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Hanover Insurance Group's Scope 3 emissions increased by 32.85%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Hanover Insurance Group reported emissions for 1 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2024, the largest contributors to Hanover Insurance Group's Scope 3 emissions were:a
In 2024, Hanover Insurance Group reported Scope 1 greenhouse gas (GHG) emissions of 4,589 tCO₂e and total revenues of USD 6,216 millions. This translates into an emissions intensity of 0.74 tCO₂e per millions USD.a
In 2024, Hanover Insurance Group reported a Scope 1 emissions intensity of 0.74 tCO₂e per millions USD. Compared to the peer group median of 0.35, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Hanover Insurance Group ranked 21 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Hanover Insurance Group among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, Hanover Insurance Group reported a total carbon footprint of 10,938 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 5.07% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Hanover Insurance Group's total carbon footprint was Scope 1 emissions, accounting for 41.95% of the company's total carbon footprint, followed by Scope 2 emissions at 39.63%.a