Climate Change Data

Environmental Metrics

ESG Focus Areas

• Governance
• Ethics

Governance Achievements

• Established a Code of Business Conduct and Ethics.
• Implemented a ‘speak up culture’ with 24/7 ethics hotline.
• Developed a global compliance and ethics program with periodic risk assessments and regular compliance training.

Climate Goals & Targets

Environmental Challenges

• Covid-19 pandemic.
• Higher than average natural catastrophes (40% higher than the 21st-century average).

Mitigation Strategies

• Globally diversified insurance portfolio to dampen the effect of losses from specific risks or geographic regions.
• Retrocession programs to mitigate result volatility.
• Stringent pricing and underwriting, continued efficiency improvements and sound balancing of risks between insurance and investment operations.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Natural catastrophes (wind, flooding, earthquakes)

Reporting Standards

Frameworks Used: Solvency II

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Social Responsibility

Environmental Achievements

• Reduced carbon footprint by 52% from 2020 baseline through cloud migration and office relocation.
• Relocated New York office to LEED Gold certified building.
• Relocated Stockholm office to a building targeting BREEAM Excellent certification.
• Added electric vehicles to Belgian office fleet and installed charging stations.

Social Achievements

• Maintained a gender-diverse workforce (50% women, 50% men).
• Implemented various employee wellbeing programs (healthcare, life insurance, paid parental leave, etc.).
• Engaged in community initiatives (donations to Red Cross, fundraising for WindReach, volunteering).

Governance Achievements

• Established a Sustainability Council to define sustainability approach and goals.
• Integrated climate risk into Enterprise Risk Management (ERM) framework.
• Reduced exposure to property catastrophe reinsurance.

Climate Goals & Targets

Environmental Challenges

• Exposure to various natural perils (hurricanes, earthquakes, wildfires, etc.).
• Transition risks associated with shifting to a low-carbon economy.
• Litigation risk related to climate change.
• Data limitations in measuring and disclosing climate-related metrics.

Mitigation Strategies

• Materially reduced exposure to property risk globally (from 28% to 17% of gross written premium).
• Developed underwriting guidelines to mitigate climate change impacts.
• Implemented outwards reinsurance and capital management strategies.
• Leveraging annual policies for flexibility in pricing and risk adjustment.
• Investing in tools for automated emissions tracking.

Supply Chain Management

Responsible Procurement

• Vendor Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Hurricanes
• Tornadoes
• Earthquakes
• Floods
• Wildfires
• Droughts

Transition Risks

• Regulatory changes
• Market shifts
• Litigation risk

Opportunities

• Providing reinsurance capacity to renewable energy sector.
• Supporting dislocated markets.
• Providing innovative climate risk transfer solutions.

Reporting Standards

Frameworks Used: TCFD

UN Sustainable Development Goals

• Good Health and Wellbeing
• Gender Equality
• Climate Action
• Decent Work and Economic Growth

SiriusPoint aligns its business with these SDGs through various initiatives.