Swiss Re is a global reinsurance company with a mission to make the world more resilient by providing insurance and other risk transfer products. Swiss Re works with a broad spectrum of stakeholders to develop innovative solutions and quantification methodologies to help predict and prevent risk. The company’s vision is to work with industry partners to achieve their mission of making the world more resilient, and to this end, they are increasingly focusing on quantifying the societal aspects of sustainability.
To update their sustainability strategy, Swiss Re conducted a materiality assessment to determine the financial materiality and impact of their activities on the environment and society. They found that common themes such as climate change and biodiversity were growing stronger, while new areas such as cybersecurity were emerging. Using this information, Swiss Re developed sustainability ambitions to advance the net-zero transition and build societal resilience. They are committed to setting reduction targets for assets, liabilities, and operations, and providing risk transfer solutions and investments to advance the net-zero transition across different sectors, including hard-to-abate sectors.
Swiss Re is also focused on closing the natural catastrophe protection gap and fostering financial inclusion. They have developed an ESG risk management framework and have worked extensively on governance and compliance in recent years. Swiss Re is committed to engaging with clients and stakeholders to build on their risk knowledge and socialise concepts, refine them, and better understand them through an iterative R&D process.
The company has identified the UN Sustainable Development Goals (SDGs) that they can most impact, and they are working together with ICMIF and other industry partners to achieve these goals. Swiss Re’s sustainability enablers include people and operations, and they are continuously working to refine their strategies and build a common language of sustainability through partnerships and collaborations with industry associations and standard bodies.
Swiss Re’s two sustainability ambitions are at the heart of their work. They are committed to the net-zero transition and building societal resilience. Their focus on advancing the net-zero transition is about committing to a decarbonization pathway, providing risk transfer solutions and investments, and engaging with clients and stakeholders to build on their risk knowledge. Their focus on building societal resilience is about closing the natural catastrophe protection gap and fostering financial inclusion.
Swiss Re is dedicated to making the world more resilient and invites everyone to be a part of this mission. By working together with industry partners, such as insurers, cooperatives, and mutuals, they believe that they can achieve their goal of making the world a more resilient place.
