In 2024, Hiscox 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).
Hiscox 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 | 549.4a | 408.9a | 786.6a | |
Total Scope 2 | ||||
Market-Based | 1,029.4a | 1,043.1a | 926.1a | |
Location-Based | 1,360.6a | 1,441a | N/A | |
Total Scope 3 | 162,557.8a | 164,221.8a | 156,657.3a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.1495a | 0.1142a | 0.3745a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Hiscox amounted to 1,910 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 Hiscox increased by 3.25%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Hiscox were 549.4 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Hiscox's Scope 1 emissions have decreased by 10.68%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Hiscox's Scope 1 emissions increased by 34.36%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Hiscox reported Scope 2 greenhouse gas (GHG) emissions of 1,029.4 tCO₂e using the market-based method and 1,360.6 tCO₂e using the location-based method.a
Compared to the previous year (2023), Hiscox's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Hiscox's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Hiscox reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Hiscox reported 162,557.8 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 Hiscox 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, Hiscox reported total Scope 3 emissions of 162,557.8 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 0% of these emissions originated from upstream activities such as purchased goods and capital goods, while 100% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2020, Hiscox's Scope 3 emissionshave remained relatively stable, indicating that Hiscox's emissions have plateaued with no significant change in its value chain footprint.a
Compared to the previous year (2023), Hiscox's Scope 3 emissions remained relatively stable, indicating that Hiscox's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Hiscox 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 Hiscox's Scope 3 emissions were:a
In 2024, Hiscox reported Scope 1 greenhouse gas (GHG) emissions of 549.4 tCO₂e and total revenues of USD 3,675 millions. This translates into an emissions intensity of 0.15 tCO₂e per millions USD.a
In 2024, Hiscox reported a Scope 1 emissions intensity of 0.15 tCO₂e per millions USD. Compared to the peer group median of 0.43, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Hiscox ranked 5 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Hiscox among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2024, Hiscox reported a total carbon footprint of 164,467.8 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 0.97% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Hiscox's total carbon footprint was Scope 3 emissions, accounting for 98.84% of the company's total carbon footprint, followed by Scope 2 emissions at 0.83%.a