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Hanover Insurance Group Inc
Hanover Insurance Group's GHG Emissions Data Preview
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 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 2 | ||||
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Verified Sources Behind Hanover Insurance Group’s Greenhouse Gas (GHG) Emissions Data
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Insights into Hanover Insurance Group's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions ofHanover Insurance Group amounted to8,924metric 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 Groupdecreased by 10.81%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
Hanover Insurance Group's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Hanover Insurance Group's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Hanover Insurance Group were 4,589 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Has Hanover Insurance Group reduced its Scope 1 emissions over time?
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
What are Hanover Insurance Group's Scope 2 emissions?
In 2024, Hanover Insurance Group reported Scope 2 greenhouse gas (GHG) emissions of 4,335 tCOâ‚‚e using the location-based method.a
Has Hanover Insurance Group reduced its Scope 2 emissions over time?
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
What methodology does Hanover Insurance Group use for Scope 2 reporting?
In 2024, Hanover Insurance Group reported its Scope 2 emissions using the location-based method.a
Hanover Insurance Group's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
Insights into Hanover Insurance Group's Value Chain Emissions
In 2024, Hanover Insurance Group reported 2,014 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) 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 1of 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
Hanover Insurance Group's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Hanover Insurance Group's Scope 3 emissions?
In 2024, Hanover Insurance Group reported total Scope 3 emissions of 2,014 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).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
Has Hanover Insurance Group reduced its Scope 3 emissions over time?
Since 2019, Hanover Insurance Group's Scope 3 emissionshave 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
What categories of Scope 3 emissions does Hanover Insurance Group disclose?
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.
What are the main sources of Hanover Insurance Group's Scope 3 emissions?
In 2024, the largest contributors to Hanover Insurance Group's Scope 3 emissions were:a
- Business Travel (Cat. 6): 2,014 tCOâ‚‚e(100%)
Hanover Insurance Group's Scope 3 Emissions by Categories
Insights into Hanover Insurance Group’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Hanover Insurance Group reported Scope 1 greenhouse gas (GHG) emissions of 4,589 tCOâ‚‚e and total revenues of USD 6,216 millions. This translates into an emissions intensity of 0.74 tCOâ‚‚e per millions USD.a
Hanover Insurance Group's Scope 1 Emissions Intensity Compared to Peers
How does Hanover Insurance Group's GHG emissions intensity compare to its peers?
In 2024, Hanover Insurance Group reported a Scope 1 emissions intensity of 0.74 tCOâ‚‚e per millions USD. Compared to the peer group median of 0.38, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
Where does Hanover Insurance Group rank on GHG emissions intensity within its industry?
In 2024, Hanover Insurance Group ranked 20 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCOâ‚‚e 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
Insights into Hanover Insurance Group's Total Carbon Footprint
In 2024, Hanover Insurance Group reported a total carbon footprint of 10,938 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) 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