Climate Change Data

Environmental Metrics

ESG Focus Areas

• Good business conduct, ethics and governance
• Managing the impacts of climate change across liabilities, assets and corporate operations
• Community support and wellness
• Diversity and inclusion

Environmental Achievements

• Employees reduced 28,660 lbs (13,000 kg) of CO2, 1,565 lbs (710 kg) of waste, and saved 30,380 gallons (115,000 L) of water during the Carbon Cutting Challenge.
• Offset 100% of its operational carbon footprint and provided funding to help the Haiti Clean Water Project.

Social Achievements

• Donated to Women for Women International and Doctors without Borders.
• Implemented programs facilitating company matching for employees’ donations of money and time.
• Introduced a Diversity and Inclusion scorecard.
• Hosted an internal webcast series on topics important to PartnerRe.

Governance Achievements

• Integrated ESG into the ERM Framework.
• Documented and approved an ESG policy by the Board.
• Approved an ESG policy for Investments.
• Established an ESG Taskforce.

Climate Goals & Targets

Environmental Challenges

• Quantifying ESG risks, including climate change risk, for reinsurance.
• Industry-wide challenge of fully considering and understanding ESG risks.

Mitigation Strategies

• Employing multiple climate scientists to build and review views of catastrophe risk.
• Adapting underwriting and investment guidelines to account for ESG considerations.
• Implementing an ESG scoring system and framework for determining exposure to greenhouse gases.
• Engaging with investees on ESG issues to encourage sustainability.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Hurricanes
• Extreme rainfall
• Wildfires
• Rising sea levels
• Droughts
• Intensifying heat waves

Transition Risks

• Repricing of carbon-intensive financial assets
• Regulatory changes

Opportunities

• Renewable energy

Reporting Standards

Frameworks Used: UN Global Compact

Environmental Metrics

ESG Focus Areas

• Good business conduct, ethics, and governance
• Managing the impacts of climate change
• Community support and wellness
• Diversity and inclusion

Environmental Achievements

• Presented GHG emissions for scopes 1, 2, and 3 for 2021, aligned with GHG Protocol and TCFD recommendations.
• No longer (re)insures new coal-based power plants and/or thermal coal mines on a facultative basis.
• Avoids (re)insuring companies that derive a significant part of their revenue or energy production from thermal coal on a direct and facultative basis (exceptions reviewed).

Social Achievements

• Implemented programs facilitating company matching for employee donations of money and time.
• Hosted a panel discussion on Building an Inclusive Culture.
• Formed a D&I Advisory Council.
• Increased percentage of women in senior leadership roles to 23% (up from 19% in 2021).

Governance Achievements

• ESG policy documented and approved by the Board.
• ESG Investment Policy approved by Chief Investment Officer and overseen by the Board.
• Integration of ESG into the ERM Framework.

Climate Goals & Targets

Environmental Challenges

• Continued evolution of the regulatory environment on ESG issues.
• Industry-wide challenge of enhancing quantitative approaches to fully consider and understand ESG risks.
• Quantifying the impact of climate change on all areas of the business model.

Mitigation Strategies

• Annual review and adjustment of ERM policies in accordance with evolving understanding of climate risks.
• Use of third-party data providers to identify investments that are rated as ESG stragglers.
• Semi-annual positive and negative screening for internally managed assets.
• Engagement with investees on ESG issues to encourage strategies that increase sustainability and raise ESG standards.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Increased rainfall from tropical cyclones
• Increased intensity of hurricanes
• Increased number of large forest fires
• More rainfall-induced flooding
• Higher storm surge
• More flash floods
• Increased coastal flooding
• Increase in duration and severity of droughts

Transition Risks

• Rapid falls in valuation of carbon-intensive assets

Opportunities

• Renewable energy as a potential growth segment

Reporting Standards

Frameworks Used: TCFD, SASB, UN PRI

Environmental Metrics

ESG Focus Areas

• Good business conduct, ethics and governance
• Managing the impacts of climate change across liabilities, assets and corporate operations
• Community support and wellness
• Diversity and inclusion

Environmental Achievements

• Migrated all infrastructure, applications, and data from on-premises data centers to the cloud, significantly reducing carbon emissions.
• Underwriting guidelines adapted to account for ESG; no longer (re)insuring new construction of coal-based power plants and/or thermal coal mines on a facultative basis.
• Achieved all ESG Investment Targets, exceeding the goal for a Sustainable Portfolio of $898 million.

Social Achievements

• Offered targeted leadership programs for women (Cohort 5 of In Touch commenced).
• Increased retention rate for female employees in 2023.
• Increased female representation in succession planning from 28% in 2022 to 32% in 2023.
• Annual Day of Giving enables employees to make an impact through charitable giving and social volunteering.

Governance Achievements

• ESG policy documented and approved by the Board.
• ESG Investment Policy approved by Chief Investment Officer and overseen by the Board.
• Integration of ESG into the ERM Framework.

Climate Goals & Targets

Environmental Challenges

• Continued evolution of the regulatory environment on ESG issues.
• Quantifying the impact of climate change on all areas of the business model.
• Further enhancing quantitative approaches to fully consider and understand ESG risks.

Mitigation Strategies

• ERM Framework principles designed to adapt to the continuously evolving environment, allowing ESG risk to integrate in an agile fashion.
• Employing multiple climate scientists to build views of catastrophe risk and determine the extent of climate change's contribution to risk-of-loss assessment.
• Using third-party data providers to identify investments rated as ESG stragglers and conducting semi-annual positive and negative screenings.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency and severity of weather-related events (hurricanes, floods, wildfires, hailstorms, droughts).

Transition Risks

• Regulatory changes, market shifts, diminished customer demand, investor interest.

Opportunities

• Growth in renewable energy underwriting.

Reporting Standards

Frameworks Used: TCFD, SASB, UNPRI

Certifications: LEED Gold, BOMA Best, Minergie Eco, HQE, BCA Green Mark Platinum

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed