AMBAC FINANCIAL GROUP, INC.
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Diversity, Equity & Inclusion
- Environment
- Responsible Investing
- Human Rights
- Information Security and Data Privacy
- Vendor Code of Conduct
- Climate Change & Risk Mitigation
Environmental Achievements
- Reduced corporate footprint by consolidating New York headquarters in 2019, moving to a LEED Gold certified building.
- Adopted green cleaning policy, electronic waste recycling, office furniture reuse program, and organic collection program.
Social Achievements
- Maintained a 4.3% voluntary turnover rate.
- Provided 1,200 hours of company-sponsored training and professional development in 2023.
- Received the WELL Health-Safety Rating in 2023.
- Instituted paid time off for volunteering in 2019.
Governance Achievements
- Formalized commitment to ESG practices in 2021 and continued policy development in 2022 and 2023.
- Established Board of Directors oversight of ESG through the Governance and Nominating Committee.
- Developed an ESG Committee comprised of senior leaders.
- Completed responses to the revised GRI and SASB voluntary reporting frameworks.
- Implemented a Code of Business Conduct and Ethics with an ESG Supplement.
- Annual bias awareness and anti-harassment training for all employees, officers, and directors.
Climate Goals & Targets
Environmental Challenges
- Limited impact on the environment due to the nature of the business.
- Managing potential commercial exposure to environmental risks, including climate change and natural catastrophes.
Mitigation Strategies
- Close monitoring of potential commercial exposure to environmental risks.
- Everspan Group’s actuaries and underwriters consider climate-related catastrophe risks in underwriting and pricing decisions.
- Purchase of substantial reinsurance and monitoring exposures in key geographic zones and product lines prone to catastrophic events.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Vendor Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather patterns
Reporting Standards
Frameworks Used: GRI, SASB
Certifications: LEED Gold
Third-party Assurance: Not disclosed