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Progressive Corp

Common Name
Progressive
Country
United States
Sector
Financial Services
Industry
Insurance - Property & Casualty
Employees
66,308
Ticker
PGR
Exchange
NEW YORK STOCK EXCHANGE, INC.
Description
Progressive Corporation is a major American insurance provider, renowned for its innovative approach to personal and commercial insurance products. The company primarily offers automotive insurance, b...

Progressive's GHG Emissions Data Preview

In 2024, Progressive 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).

Progressive has also provided a category-level breakdown for 2 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.

Metric (tCO2e)2024202320222021 - 2017
Total Scope 1
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a
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b
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c
0000000
Total Scope 2
Market-Based
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a
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b
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c
0000000
Location-Based
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a
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b
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c
0000000
Total Scope 3
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a
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0000000
Total Scope 1 Revenue Intensity (tCO2e/$M)
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a
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b
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c
0000000
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$curl "https://tracenable.com/api/v1/ghg-emissions/absolute?ticker=PGR&reporting_period=2024"

Verified Sources Behind Progressive’s Greenhouse Gas (GHG) Emissions Data

Every figure on this dashboard has a transparent audit trail. With Tracenable, each data point is traceable back to its original source, viewable directly inside our platform. Explore Progressive’s data sources below and access millions more through our Disclosure Search.

a. Progressive's Sustainability Report 2024
a. Progressive's Sustainability Report 2024
b. Progressive's Sustainability Report 2023
b. Progressive's Sustainability Report 2023
c. Progressive's Sustainability Report 2022
c. Progressive's Sustainability Report 2022

Insights into Progressive's Operational Emissions

In 2024, the total operational greenhouse gas (GHG) emissions ofProgressive amounted to68,267metric 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 Progressivedecreased by 8.38%, showing that the company has made progress in taking action to reduce the climate impact of its operations.ab

Progressive's Scope 1 Emissions Over Time

20222023202408.5 k17 k25.5 k34 ktCO2e-1%+2%
  • Total Scope 1
  • Year-over-Year Change

What are Progressive's Scope 1 emissions?

In 2024, the total Scope 1 emissions of Progressive were 32,281 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a

Has Progressive reduced its Scope 1 emissions over time?

Since 2022, Progressive's Scope 1 emissions have increased by 1.21%, reflecting a rising long-term trend in Scope 1 emissions over time.ac

Compared to the previous year(2023), Progressive's Scope 1 emissions increased by 1.96%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.ab

What are Progressive's Scope 2 emissions?

In 2024, Progressive reported Scope 2 greenhouse gas (GHG) emissions of 5,265 tCOâ‚‚e using the market-based method and 35,986 tCOâ‚‚e using the location-based method.a

Has Progressive reduced its Scope 2 emissions over time?

Since 2022, Progressive's Scope 2 greenhouse gas (GHG) emissions (Location-Based)have decreased by 28.8%, reflecting a declining long-term trend in Scope 2 emissions over time.ac

Compared to the previous year(2023), Progressive's Scope 2 emissions(Location-Based) fell by 16.02% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.ab

What methodology does Progressive use for Scope 2 reporting?

In 2024, Progressive reported its Scope 2 emissions using the market-based method and using the location-based method.a

Progressive's Scope 2 Emissions Over Time

202220232024015 k30 k45 k60 ktCO2e
  • Total Scope 2 Location-Based
  • Total Scope 2 Market-Based

Insights into Progressive's Value Chain Emissions

In 2024, Progressive reported 25,763 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 Progressive includes a breakdown across 2of the 15 Scope 3 categories defined by the GHG Protocol,up from 0 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina

Progressive's Scope 3 Emissions Over Time

202406.5 k13 k19.5 k26 ktCO2e
  • Total Scope 3
  • Year-over-Year Change

What are Progressive's Scope 3 emissions?

In 2024, Progressive reported total Scope 3 emissions of 25,763 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

What categories of Scope 3 emissions does Progressive disclose?

In 2024, Progressive reported emissions for 2 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 Progressive's Scope 3 emissions?

In 2024, the largest contributors to Progressive's Scope 3 emissions were:a

  • Employee Commuting (Cat. 7): 14,120 tCOâ‚‚e(54.81%)
  • Business Travel (Cat. 6): 11,643 tCOâ‚‚e(45.19%)

Progressive's Scope 3 Emissions by Categories

Employee Commuting(Cat. 7)(54.8%)Business Travel(Cat. 6)(45.2%)

Insights into Progressive’s GHG Emissions Intensity Compared to Industry Peers

In 2024, Progressive reported Scope 1 greenhouse gas (GHG) emissions of 32,281 tCOâ‚‚e and total revenues of USD 75,335 millions. This translates into an emissions intensity of 0.43 tCOâ‚‚e per millions USD.a

Progressive's Scope 1 Emissions Intensity Compared to Peers

1005005,00020,000200,000Scope 1 Emissions (tCO2e)1001,0005,00050,000200,000Revenues (Millions of USD)HPalomar HoldingsYear: 2024Scope 1: 222 tCO2eRevenue: $M 554Scope 1 Intensity: 0.40 tCO2e/$MMorgan StanleyYear: 2024Scope 1: 19,636 tCO2eRevenue: $M 57,617Scope 1 Intensity: 0.34 tCO2e/$MAmerican ExpressYear: 2024Scope 1: 21,817 tCO2eRevenue: $M 65,952Scope 1 Intensity: 0.33 tCO2e/$MHanover Insurance GroupYear: 2024Scope 1: 4,589 tCO2eRevenue: $M 6,216Scope 1 Intensity: 0.74 tCO2e/$MAllstateYear: 2024Scope 1: 17,485 tCO2eRevenue: $M 64,118Scope 1 Intensity: 0.27 tCO2e/$MHHHorace Mann EducatorsYear: 2024Scope 1: 459 tCO2eRevenue: $M 1,550Scope 1 Intensity: 0.30 tCO2e/$MPrudential FinancialYear: 2024Scope 1: 13,609 tCO2eRevenue: $M 70,659Scope 1 Intensity: 0.19 tCO2e/$MW R BerkleyYear: 2024Scope 1: 10,412 tCO2eRevenue: $M 13,691Scope 1 Intensity: 0.76 tCO2e/$MAssurantYear: 2024Scope 1: 1,282 tCO2eRevenue: $M 11,881Scope 1 Intensity: 0.11 tCO2e/$MCapital One FinancialYear: 2024Scope 1: 7,251 tCO2eRevenue: $M 39,110Scope 1 Intensity: 0.19 tCO2e/$MHartford Insurance GroupYear: 2024Scope 1: 5,981 tCO2eRevenue: $M 26,383Scope 1 Intensity: 0.23 tCO2e/$MIntercontinental ExchangeYear: 2024Scope 1: 5,212 tCO2eRevenue: $M 11,760Scope 1 Intensity: 0.44 tCO2e/$MRLIYear: 2023Scope 1: 304 tCO2eRevenue: $M 1,524Scope 1 Intensity: 0.20 tCO2e/$MMoody'sYear: 2024Scope 1: 641 tCO2eRevenue: $M 7,091Scope 1 Intensity: 0.09 tCO2e/$MWells Fargo & CoYear: 2024Scope 1: 79,285 tCO2eRevenue: $M 82,297Scope 1 Intensity: 0.96 tCO2e/$MPayPal HoldingsYear: 2024Scope 1: 2,100 tCO2eRevenue: $M 31,818Scope 1 Intensity: 0.07 tCO2e/$MCitigroupYear: 2024Scope 1: 53,455 tCO2eRevenue: $M 81,091Scope 1 Intensity: 0.66 tCO2e/$MTruist FinancialYear: 2024Scope 1: 13,382 tCO2eRevenue: $M 13,278Scope 1 Intensity: 1.01 tCO2e/$MKKR & CoYear: 2024Scope 1: 1,860 tCO2eRevenue: $M 21,628Scope 1 Intensity: 0.09 tCO2e/$MSelective Insurance GroupYear: 2023Scope 1: 2,632 tCO2eRevenue: $M 4,232Scope 1 Intensity: 0.62 tCO2e/$MMetLifeYear: 2024Scope 1: 10,611 tCO2eRevenue: $M 69,901Scope 1 Intensity: 0.15 tCO2e/$MCincinnati FinancialYear: 2024Scope 1: 14,273 tCO2eRevenue: $M 11,337Scope 1 Intensity: 1.26 tCO2e/$MTravelers CompaniesYear: 2024Scope 1: 19,069 tCO2eRevenue: $M 46,430Scope 1 Intensity: 0.41 tCO2e/$MBROOKFIELD ASSET MANAGEMENTYear: 2024Scope 1: 322 tCO2eRevenue: $M 482Scope 1 Intensity: 0.67 tCO2e/$MProgressiveYear: 2024Scope 1: 32,281 tCO2eRevenue: $M 75,335Scope 1 Intensity: 0.43 tCO2e/$M

How does Progressive's GHG emissions intensity compare to its peers?

In 2024, Progressive reported a Scope 1 emissions intensity of 0.43 tCOâ‚‚e 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

Where does Progressive rank on GHG emissions intensity within its industry?

In 2024, Progressive ranked 16 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCOâ‚‚e per millions USD).a

Progressive is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a

Insights into Progressive's Total Carbon Footprint

In 2024, Progressive reported a total carbon footprint of 94,030 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 26.2% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.ab

The largest contributor to Progressive's total carbon footprint was Scope 2 emissions, accounting for 38.27% of the company's total carbon footprint, followed by Scope 1 emissions at 34.33%.a

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