In 2024, Migdal Insurance and Financial Holdings 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).
However, Migdal Insurance and Financial Holdings has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 2,939a | 2,516a | 2,608a | |
Total Scope 2 | ||||
Market-Based | 5,665a | 5,235a | 6,628a | |
Location-Based | 5,521a | 5,491a | 6,295a | |
Total Scope 3 | 188a | 109a | 66a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 1.1905a | 0.3187a | 1.4274a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Migdal Insurance and Financial Holdings amounted to 8,460 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 Migdal Insurance and Financial Holdings increased by 5.66%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Migdal Insurance and Financial Holdings were 2,939 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Migdal Insurance and Financial Holdings's Scope 1 emissions have increased by 11.2%, reflecting a rising long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2023), Migdal Insurance and Financial Holdings's Scope 1 emissions increased by 16.81%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Migdal Insurance and Financial Holdings reported Scope 2 greenhouse gas (GHG) emissions of 5,665 tCO₂e using the market-based method and 5,521 tCO₂e using the location-based method.a
Since 2021, Migdal Insurance and Financial Holdings's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 25.8%, reflecting a declining long-term trend in Scope 2 emissions over time.a
Compared to the previous year (2023), Migdal Insurance and Financial Holdings's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Migdal Insurance and Financial Holdings's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Migdal Insurance and Financial Holdings reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Migdal Insurance and Financial Holdings reported 188 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 Migdal Insurance and Financial Holdings includes a breakdown across 0 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, Migdal Insurance and Financial Holdings reported total Scope 3 emissions of 188 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Migdal Insurance and Financial Holdings's Scope 3 emissions have increased by 889.47%, reflecting a rising long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Migdal Insurance and Financial Holdings's Scope 3 emissions increased by 72.48%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, Migdal Insurance and Financial Holdings reported Scope 1 greenhouse gas (GHG) emissions of 2,939 tCO₂e and total revenues of USD 2,469 millions. This translates into an emissions intensity of 1.19 tCO₂e per millions USD.a
In 2024, Migdal Insurance and Financial Holdings reported a Scope 1 emissions intensity of 1.19 tCO₂e per millions USD. Compared to the peer group median of 0.34, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Migdal Insurance and Financial Holdings ranked 24 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Migdal Insurance and Financial Holdings among the least efficient performers, with one of the highest emissions intensities in its sector.a
In 2024, Migdal Insurance and Financial Holdings reported a total carbon footprint of 8,648 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 6.55% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Migdal Insurance and Financial Holdings's total carbon footprint was Scope 2 emissions, accounting for 63.84% of the company's total carbon footprint, followed by Scope 1 emissions at 33.98%.a