In 2024, PICC Property and Casualty 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).
PICC Property and Casualty 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 | 182.33a | 169.44a | 156.38a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 4,580.34a | 4,863.88a | 4,588.4a | |
Total Scope 3 | 1,286.38a | 953.48a | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.0028a | 0.0027a | 0.0027a |
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In 2024, the total operational greenhouse gas (GHG) emissions of PICC Property and Casualty amounted to 4,762.67 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 PICC Property and Casualty decreased by 5.38%, 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 PICC Property and Casualty were 182.33 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, PICC Property and Casualty's Scope 1 emissions have decreased by 1.49%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), PICC Property and Casualty's Scope 1 emissions increased by 7.61%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, PICC Property and Casualty reported Scope 2 greenhouse gas (GHG) emissions of 4,580.34 tCO₂e without specifying the calculation method.a
Since 2021, PICC Property and Casualty's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have remained relatively stable, indicating that PICC Property and Casualty's emissions have plateaued with no significant change in its energy consumption footprint.ab
Compared to the previous year (2023), PICC Property and Casualty's Scope 2 emissions (Unspecified Calculation Method) have remained relatively stable, indicating that PICC Property and Casualty's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, PICC Property and Casualty reported its Scope 2 emissions using an unspecified methodology.a
In 2024, PICC Property and Casualty reported 1,286.38 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 PICC Property and Casualty 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, PICC Property and Casualty reported total Scope 3 emissions of 1,286.38 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
Compared to the previous year (2023), PICC Property and Casualty's Scope 3 emissions increased by 34.91%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, PICC Property and Casualty 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 PICC Property and Casualty's Scope 3 emissions were:a
In 2024, PICC Property and Casualty reported Scope 1 greenhouse gas (GHG) emissions of 182.33 tCO₂e and total revenues of USD 65,118 millions. This translates into an emissions intensity of 0 tCO₂e per millions USD.a
In 2024, PICC Property and Casualty reported a Scope 1 emissions intensity of 0 tCO₂e per millions USD. Compared to the peer group median of 0.41, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, PICC Property and Casualty ranked 1 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places PICC Property and Casualty among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2024, PICC Property and Casualty reported a total carbon footprint of 6,049.05 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 1.04% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to PICC Property and Casualty's total carbon footprint was Scope 2 emissions, accounting for 75.72% of the company's total carbon footprint, followed by Scope 3 emissions at 21.27%.a