Climate Ambition & Reporting

More details, Annual Report from p.89

As a responsible corporate Group, Munich Re endeavours to play its part in meeting the targets of the Paris Agreement. The Group has therefore set itself climate targets for its investments, its (re)insurance activities and its own operations.

Within our Ambition 2025 framework, we have established a series of targets to guide our decarbonisation journey until 2050, with significant milestones set for 2025.

Our reduction targets and the achievement of these targets in the 2024 financial year can be seen in the graph below:

Our integrated climate-related disclosure

When reporting on climate, we prepared a combined non-financial statement in accordance with the requirements of the Corporate Sustainability Reporting Directive (CSRD). Also, we are taking into account the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

More details in our Annual Report, from p. 89

TCFD / SASB Index

Data sharing for analytical research focusing on enhancing adaptation to climate change

The EU taxonomy underpins that the financial sector is playing a key role in the climate transformation, as both investor and risk carrier. In that context it is also acknowledged that the insurance industry is in a leading position to contribute to climate change adaptation with its historic climate catastrophe loss data. For years Munich Re has been supporting the GDV data service for the natural catastrophe report. This report provides insights into natural catastrophe losses based on German insurers’ data and makes it available to all interested parties (please refer to gdv.de). Munich Re is moreover dedicated to support analytical research focusing on enhancing adaptation to climate change by the society in a region, country or internationally and to share relevant loss data requested for that purpose with public authorities, free of charge, in consideration of applicable laws and regulations. For requests covered by the Commission Delegated Regulation (EU) 2021/2139 supplementing Regulation (EU) 2020/852, Annex II, 10.1. Non-life insurance: underwriting of climate-related perils, 4. Data sharing; 10.2. Reinsurance, 4. Data sharing please contact EUTaxonomy-DataSharing-(Pool)