In 2024, Swiss Re 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).
Swiss Re has also provided a category-level breakdown for 7 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 | 1,728a | 1,726a | 2,520a | |
Total Scope 2 | ||||
Market-Based | 84a | 57a | 64a | |
Location-Based | 7,438a | 6,903a | 7,868a | |
Total Scope 3 | 148,967a | 148,811a | 140,202a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.2457a | 0.049a | 0.0679a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Swiss Re amounted to 9,166 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 Swiss Re increased by 6.22%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Swiss Re were 1,728 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Swiss Re's Scope 1 emissions have decreased by 59.32%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Swiss Re's Scope 1 emissions remained relatively stable, indicating that Swiss Re's emissions have plateaued with no significant change in its operational footprint.a
In 2024, Swiss Re reported Scope 2 greenhouse gas (GHG) emissions of 84 tCO₂e using the market-based method and 7,438 tCO₂e using the location-based method.a
Since 2019, Swiss Re's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 34.5%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Swiss Re's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Swiss Re's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Swiss Re reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Swiss Re reported 148,967 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 Swiss Re includes a breakdown across 7 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, Swiss Re reported total Scope 3 emissions of 148,967 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 99.47% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0.53% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Swiss Re's Scope 3 emissions have increased by 69.73%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Swiss Re's Scope 3 emissions remained relatively stable, indicating that Swiss Re's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Swiss Re reported emissions for 7 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 Swiss Re's Scope 3 emissions were:a
In 2024, Swiss Re reported Scope 1 greenhouse gas (GHG) emissions of 1,728 tCO₂e and total revenues of USD 7,033 millions. This translates into an emissions intensity of 0.25 tCO₂e per millions USD.a
In 2024, Swiss Re reported a Scope 1 emissions intensity of 0.25 tCO₂e per millions USD. Compared to the peer group median of 0.48, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Swiss Re ranked 7 out of 21 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Swiss Re is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Swiss Re reported a total carbon footprint of 158,133 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 0.44% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Swiss Re's total carbon footprint was Scope 3 emissions, accounting for 94.2% of the company's total carbon footprint, followed by Scope 2 emissions at 4.7%.a