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Sustainability at Munich Re

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    The environmental impact of our activities is limited, since Munich Re does not have an energy- and resource-intensive business model. However, as a large organisation with more than 41,000 employees, we have responsibilities for environmental protection and have involved ourselves in areas that we can influence in practical and positive ways. In determining our goals and activities, we are focusing on reducing energy consumption and the associated carbon emissions, ensuring that business travel is as environmentally friendly as possible, and achieving a higher level of material and resource efficiency for our processes by generating less waste and using sustainable materials. In parallel with these activities, we are sensitising our staff to behaving in an environmentally compatible way.

    Climate-related disclosures

    In its Group Annual Report for FY 2024, Munich Re has, for the first time, prepared a combined non-financial statement (p.59; ff.) under full application of the first set of the European Sustainability Reporting Standards (ESRS).

    OSFI’s disclosure expectations are outlined in Annex 2-2 of B-15. Refer to this index TCFD, OSFI B-15 Index to find the relevant information in the Group Annual Report. The Group Annual Report is in accordance with the European Sustainability Reporting Standards and the Taskforce for Climate-related Financial Disclosures (TCFD) requirements. 

    The report encompasses Munich Re Canada's overall approach to climate-risk related disclosure expectations as set out in OSFI’s Guideline B-15 Climate Risk Management, including our governance structure, strategy, risk management framework, and metrics and targets to measure and manage climate-related risks and opportunities.

    Munich Re Canada Life separately discloses our GHG emissions in our own operations in the table below:
    Care and Protect
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    CO2 Emissions, Canada

    CO2 emissions for Munich Re Canada Offices 2024
    Scope 1 - incl. Company cars and self-generated energy consumption in tCO2 21
    Scope 2 - incl. Green electricity extrapolated in tCO2 200
    Scope 3 - incl. Business travel in tCO2 242
    Total CO2e 463
    Share of green electricity in % 100
    Employees 449
    Intensity of CO2 per employee 1.03

    Climate Ambition 2030 for Munich Re Group

    Non financial ambition 2030 Group Climate ambition 2030
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