In 2024, QBE 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).
QBE Insurance Group has also provided a category-level breakdown for 9 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 | 7,746a | 7,832a | 7,179a | |
Total Scope 2 | ||||
Market-Based | 710a | 744a | 1,284a | |
Location-Based | 7,413a | 9,024a | 9,990a | |
Total Scope 3 | 1,902,015a | 22,615a | 19,615a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.4132a | 0.4489a | 0.5357a |
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In 2024, the total operational greenhouse gas (GHG) emissions of QBE Insurance Group amounted to 15,159 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 QBE Insurance Group decreased by 10.07%, 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 QBE Insurance Group were 7,746 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, QBE Insurance Group's Scope 1 emissions have increased by 17.36%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), QBE Insurance Group's Scope 1 emissions decreased by 1.1%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, QBE Insurance Group reported Scope 2 greenhouse gas (GHG) emissions of 710 tCO₂e using the market-based method and 7,413 tCO₂e using the location-based method.a
Since 2019, QBE Insurance Group's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 55.69%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), QBE Insurance Group's Scope 2 emissions (Location-Based) fell by 17.85% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.a
In 2024, QBE Insurance Group reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, QBE Insurance Group reported 1,902,015 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 QBE Insurance Group includes a breakdown across 9 of the 15 Scope 3 categories defined by the GHG Protocol, up from 8 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, QBE Insurance Group reported total Scope 3 emissions of 1,902,015 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 1.01% of these emissions originated from upstream activities such as purchased goods and capital goods, while 98.99% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, QBE Insurance Group's Scope 3 emissions have increased by 11,904.64%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), QBE Insurance Group's Scope 3 emissions increased by 8,310.41%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2024, QBE Insurance Group reported emissions for 9 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to QBE Insurance Group's Scope 3 emissions were:a
In 2024, QBE Insurance Group reported Scope 1 greenhouse gas (GHG) emissions of 7,746 tCO₂e and total revenues of USD 18,746 millions. This translates into an emissions intensity of 0.41 tCO₂e per millions USD.a
In 2024, QBE Insurance Group reported a Scope 1 emissions intensity of 0.41 tCO₂e per millions USD. Compared to the peer group median of 0.4, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, QBE Insurance Group ranked 15 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
QBE Insurance Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, QBE Insurance Group reported a total carbon footprint of 1,917,174 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 4,757.17% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to QBE Insurance Group's total carbon footprint was Scope 3 emissions, accounting for 99.21% of the company's total carbon footprint, followed by Scope 1 emissions at 0.4%.a