Environmental management

More details in our Sustainability Report 2021, p. 65

Munich Re takes its responsibility for environmental issues arising from our own operations at our numerous sites worldwide seriously. Even though the direct environmental impact of our activities is limited, since our business model is not energy- and resource-intensive, we want to get involved in areas where we can have a positive impact. 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.

Strategic management using the Environmental Management System

Munich Re Group has used an internal environmental management system (EMS) to coordinate environmental activities at all sites since 2012. The EMS is based on the Group’s environmental guidelines and on selected key performance indicators (KPIs) that we use to assess our carbon footprint. It also defines the processes required and our organisational responsibilities. In 2021, 81% of Group´s employees worked at sites integrated into the EMS. In addition, 46% of Group´s employees worked at companies externally certified as DIN ISO 14001.

Bold targets for own emissions 2025 and beyond

Munich Re has chosen to adopt a holistic approach through its Ambition 2025 initiative and, in addition to decarbonisation targets for investments and (re)insurance business, has also set targets for its own CO2 emissions from operational business processes. Our target is to reduce our own CO2 emissions by 12% per employee (2019 to 2025). By 2030, we want to achieve net zero for our ownmCO2 emissions.

Learn more about Groups´ Ambition 2025

12%

less CO₂ per employee 2019 to 2025

100%

green electricity purchased Group-wide in 2025

2030

own emission of the Group are cabon net-zero

Our success

25%

less CO₂ per employee since 2019

We exceeded our reduction target of 12% per employee (2019–2025) by far and achieved 25% less carbon emissions in 2021. While we continued to actively reduce our environmental impact in 2021, the results have to be interpreted against the backdrop of the Corona Pandemic.

92%

Green electricity Group-wide in 2021

In the year under review, we purchased approx. 92% of our electricity requirements Group-wide from renewable energy sources.

> 73,000 t

CO₂ offseted for 2021

Since 2015 Munich Re (Group) has been committed to maintaining carbon neutrality in our business operations. With the climate ambition of the Group, we are aiming for carbon net-zero emissions by 2030. We compensate unavoidable carbon emissions by purchasing carbon certificates. We follow strict requirements when selecting offsetting projects. In addition to avoiding or removing carbon emissions from the atmosphere, we also place a special emphasis on maintaining social standards. We primarily support projects that promote health, facilitate education, develop local infrastructure, avoid deforestation and maintain biodiversity.

View our key data on environmental issues within the Sustainability Report 2021, p. 121