Climate-related metrics for insurance

Since 2018, Swiss Re has been using weighted average GHG emission intensities as proposed by the CRO Forum to identify the most carbon-intense direct insurance portfolios. Gross written premium is used as the weight for calculating GHG intensities relative to the insureds’ revenue.  

In 2023, Swiss Re updated its carbon accounting approach in light of the newly published Global GHG Accounting & Reporting Standard Part C for IAE by the Partnership for Carbon Accounting Financials (PCAF). The scope of the approach was extended to cover all direct and facultative commercial re/insurance portfolios in scope of this Standard. The new methodology was integrated and new and updated data sources were assessed and used for the IAE and WACI calculation.

Swiss Re's absolute insurance-associated greenhouse gas emissions (IAE) for our direct and facultative re/insurance portfolio are available in the Swiss Re Sustainability Report 2023. The GHG-related metrics, along with the Swiss Re Sustainability Report 2023, have been subject to a limited assurance engagement with KPMG.