Climate Change Data

Environmental Metrics

ESG Focus Areas

• Business Integrity
• Employee Well-being
• Environmental Sustainability
• Community Engagement
• Supplier Diversity

Environmental Achievements

• Reduced fleet emissions and increased MPG, exceeding EPA national average.
• Recycled 360 tons of paper, saving 17 trees, 7,000 gallons of water, and 3.3 cubic yards of landfill space.

Social Achievements

• Implemented a new parental leave policy providing up to two weeks of paid leave.
• Adopted a new disaster relief policy providing low-cost loans to employees.
• Formed The Verisk Leadership Institute to promote leadership excellence.
• Completed first companywide Employee Engagement Survey.
• Conferred the Verisk Citizenship Award to employees demonstrating exceptional character and behavior.
• Participated in various community service initiatives (e.g., meal packing, 5K run/walk, comfort kit assembly).

Governance Achievements

• Appointed a Senior Vice President for Corporate Social Responsibility.
• Restated The Verisk Way, company philosophy and guidelines.
• Upgraded the Verisk whistleblower hotline.

Climate Goals & Targets

Environmental Challenges

• Reducing environmental footprint
• Improving employee engagement scores to reflect global excellence
• Establishing supplier diversity standards

Mitigation Strategies

• Implementing practical strategies to reduce energy consumption.
• Developing action plans and implementing strategies responsive to employee feedback.
• Engaging a business information company to analyze spending with diverse suppliers and establishing processes and objectives for a supplier diversity program.

Supply Chain Management

Responsible Procurement

• Supplier diversity program (planned for 2016)

Climate-Related Risks & Opportunities

Awards & Recognition

• Weather-Ready Nation Ambassador (NOAA)

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• Launched Greenhouse Gas (GHG) Measurement Initiative to calculate global GHG footprint using the Greenhouse Gas Protocol.
• Relocated national processing center to an ENERGY STAR–certified building.
• Automobile fleet achieved improved aggregate miles-per-gallon performance for the sixth consecutive year.
• Completed transition of main data center operations to LEED Gold-certified facilities.

Social Achievements

• Contributed nearly $500,000 to the Verisk Nepal Relief and Recovery Fund.
• Increased spending on training and professional development by 30 percent.
• Implemented a new employee recognition program.
• Addressed findings from 2014 Employee Engagement Survey, implementing action plans to enrich the workplace experience.
• Partnered with Year Up and GeoHazards International.
• Sponsored Girl Stats.
• Employees volunteered for 2015 Community Service Week.

Governance Achievements

• Board unanimously recommended and shareholders approved an amendment to the bylaws that implements a majority voting standard for uncontested director elections.

Climate Goals & Targets

Environmental Challenges

• Environmental impacts from energy consumption, gasoline use, and business travel.
• Need to improve workplace culture and employee engagement.

Mitigation Strategies

• Greenhouse Gas Measurement Initiative to establish an emissions baseline and recommend long-term strategies.
• Implementation of action plans and strategies to respond to employee engagement survey feedback.
• Initiatives to strengthen workplace culture and employee engagement (communication channels, Yammer platform, career development discussions, recognition events).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Efforts to ensure minority-, women-, and veteran-owned businesses are given procurement opportunities.
• Intention to implement a supplier code of conduct.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme heat stress affecting workforces

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

Certifications: LEED, ENERGY STAR

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Forbes World’s Most Innovative Companies (18th)
• 3E Company Honored with Business Achievement Award for Regulatory Compliance
• 3E Company won an ISHN Readers’ Choice Award
• NASA Group Achievement Award for AER

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Completed first-ever greenhouse gas (GHG) emissions inventory, measuring 24,698 metric tons of CO2e emissions.
• Improved automobile fleet fuel efficiency for the seventh consecutive year, achieving 27.2 mpg.
• Transferred core IT operations to LEED Gold-certified facilities.
• 3E Company received a Business Achievement Award from Environmental Business Journal.

Social Achievements

• Achieved Great Place to Work® Certification.
• Named to Forbes magazine’s America’s Best Large Employers list.
• Helped nearly 600 employees earn business qualifications and reach professional milestones.
• Launched Lynda.com online learning platform, with over 1,800 employees completing 5,000+ hours of training.

Governance Achievements

• Increased Board of Directors diversity by electing Annell R. Bay and Kathleen Hogenson.
• Updated Anti-Bribery and Corruption Policy.
• Amended Non-Discrimination Policy to include gender identity.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to climate change impacts on agricultural economies (as indicated by Verisk Maplecroft Climate Change Exposure Index).

Mitigation Strategies

• Verisk Maplecroft developed the Modern Slavery Index to help companies assess supply chain risks.
• 3E Company enhanced its compliance platform to facilitate conflict minerals data exchange.

Supply Chain Management

Responsible Procurement

• Conflict minerals reporting template
• Modern Slavery Index

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting agricultural economies

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

Third-party Assurance: PricewaterhouseCoopers LLP

Awards & Recognition

• Forbes World’s Most Innovative Companies
• Forbes America’s Best Large Employers
• JUST 100 List

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Social Responsibility
• Governance

Environmental Achievements

• Balanced 100% of the company’s reported Scope 1, Scope 2, and Scope 3 (business air travel) greenhouse gas emissions for the third consecutive year through energy-saving initiatives and investments in renewable energy certificates and carbon offsets.
• Scope 1 and 2 location-based emissions, measured on a revenue-intensity basis, are more than 15% lower than calendar year 2015.

Social Achievements

• Received U.S. certification from Great Place to Work® for the fifth consecutive year, and first-time certification in the UK, Spain, and India.
• Employee engagement increased eight percentage points to 78%.

Governance Achievements

• Adopted Statement on Racial Equity and Diversity with a 14-point action plan.
• Issued its first-ever report following Sustainability Accounting Standards Board (SASB) standards.

Climate Goals & Targets

Environmental Challenges

• Litigation/Regulation Risk (regulatory action imposing mandatory emissions reduction targets, litigation associated with insurance coverages)
• Technology Risk (technology threats becoming more acute as actors seek information)
• Economic/Market Risk (transition-related risk affecting clients’ spending and investment priorities)
• Financial Risk (increased costs attributable to climate change)

Mitigation Strategies

• Decades of monitoring litigation and claims trends through various reporting services and customer panels.
• Verisk’s Approach to Cybersecurity, strengthening data security and data privacy.
• Diversifying business activities to access new and emerging markets; supporting the energy transition.
• Development of climate adaptation, resilience, and insurance risk solutions.
• Development of new products or services through R&D or innovation.
• Reduced consumption of energy.

Supply Chain Management

Supplier Audits: More than 15,000 suppliers subject to continuous screening

Responsible Procurement

• Supplier Code of Conduct and credentialing process

Climate-Related Risks & Opportunities

Opportunities

• Supporting the Energy Transition
• Development of Climate Adaptation, Resilience, and Insurance Risk Solutions
• Development of New Products or Services through R&D or Innovation
• Reduced Consumption of Energy

Reporting Standards

Frameworks Used: CDP, SASB, TCFD

Certifications: ISO/IEC 27001, LEED (Gold) for Commercial Interiors

Third-party Assurance: PricewaterhouseCoopers LLP

Sustainable Products & Innovation

• Automation feature for settling high-volume, low-severity insurance claims

Awards & Recognition

• Great Place to Work® certification (U.S., UK, India, Spain)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Sustainability

Environmental Achievements

• Decreased Scope 1 emissions by approximately 70% in 2020 (largely due to divestiture and COVID-related travel reduction)
• Decreased Scope 2 emissions by approximately 18% in 2020 (due to office consolidation, cloud transition, and COVID impact)
• Decreased Scope 3 (business air travel) emissions by approximately 81% in 2020 (due to COVID-related travel restrictions)
• Committed to a 21% reduction in absolute Scope 1 and 2 GHG emissions by 2024 compared to a 2019 baseline.

Social Achievements

• Not disclosed

Governance Achievements

• Reconstituted the Nominating and Corporate Governance Committee as the “Governance, Corporate Sustainability and Nominating Committee” with responsibility for ESG matters.
• Implemented a “Value at Risk” exercise to explicitly rate climate risk and other business risks.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Leveraging extreme event models, global risk indices, and investible market intelligence to create new solutions addressing resilience and sustainability.

Reporting Standards

Frameworks Used: TCFD

Certifications: ISO 27001

Third-party Assurance: PricewaterhouseCoopers LLP

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Maximizing Value for Stakeholders
• Deliver Services that Empower Business and Society
• Be a Responsible Data Analytics Company
• Be a Great Place to Work
• Promote a Diverse and Inclusive Culture
• Help Stakeholders Address the Impacts of Climate and Energy Challenges

Environmental Achievements

• Exceeded target to reduce absolute Scope 1 and 2 emissions 21% by 2024 (compared to a 2019 baseline), achieving a 26.6% reduction by year-end 2021.
• Applied renewable energy certificates (RECs) representing 24,778 MWh of electricity from renewable sources—approximately 95.6% of the Company’s total Scope 2 consumption in 2021.
• Supported tree-planting projects, including planting 10,000 mangrove trees in India.

Social Achievements

• Received U.S. certification from Great Place to Work for the seventh consecutive year and third-time certification in the United Kingdom, Spain, and India; first-time certification in Poland.
• Provided more than $270,000 in educational assistance to employees.
• Supported various organizations advancing the interests of underrepresented groups.

Governance Achievements

• Separated the roles of Chairman and CEO.
• Implemented annual election of directors.
• Introduced Return on Invested Capital (ROIC) as a metric for long-term executive compensation.
• Broadened the Compensation Committee's charter to include talent management.
• Adopted a Human Rights Policy.

Climate Goals & Targets

Environmental Challenges

• Data security risks
• Maintaining a diverse and engaged workforce in a competitive job market
• Addressing climate change impacts across its value chain
• Potential cascading climate risks

Mitigation Strategies

• Comprehensive cybersecurity approach
• Various employee engagement and diversity initiatives
• Investments in renewable energy and emissions reduction strategies
• Collaboration with climate experts and development of climate risk management tools

Supply Chain Management

Supplier Audits: More than 11,000 suppliers subject to third-party credentialing process in 2022

Responsible Procurement

• Supplier Code of Conduct
• Third-party credentialing program

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Wildfires

Transition Risks

• Regulatory changes
• Market shifts in the energy sector

Opportunities

• Development of climate risk management tools and services

Reporting Standards

Frameworks Used: SASB, CDP, TCFD (report expected in late 2023)

Certifications: Great Place to Work®

Third-party Assurance: Independent accounting firm (for emissions data)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Climate risk management tools
• Methane leak detection system (GreenLITE™)

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity & Inclusion
• Governance
• Employee Well-being
• Human Rights
• Supply Chain Responsibility

Environmental Achievements

• Reduced Scope 1 and 2 emissions by approximately 30.5% compared with a 2019 baseline by year-end 2022 (after discounting divestments). Exceeded internal target to reduce such emissions 21% by 2024 compared with a 2019 baseline.
• Published first-ever report in accordance with the Task Force on Climate-related Financial Disclosures (TCFD) framework.
• Continued tree plantings in recognition of Earth Day (10,000 mangrove trees in India).

Social Achievements

• Achieved 78% employee engagement score in 2023.
• Received Great Place to Work® certification in multiple countries (US, UK, Spain, India, Poland).
• Launched Verisk Indigenous Network.
• Hosted Days of Understanding sessions on diversity and inclusion topics.
• Supported various educational and career opportunities through scholarships and sponsorships (Thurgood Marshall College Fund, SEEDS, YearUp).

Governance Achievements

• Strengthened risk oversight processes with the adoption of a risk dashboard and risk review calendar.
• Implemented a Conflict of Interest Disclosure for senior-level staff.
• Added oversight to the Whistleblower Hotline process.
• Conducted first Human Rights Risk Assessment.
• Adopted an Employee Health and Safety Policy.
• Published annual Statement on Modern Slavery.

Climate Goals & Targets

Environmental Challenges

• Potential physical and transition climate risks.
• Maintaining outstanding workplace culture amidst global challenges (pandemic, 'great resignation').
• Potential human rights risks in operations and supply chain.

Mitigation Strategies

• Quantitative and qualitative climate scenario analyses to assess current operating assumptions and strategies.
• Investments in technologies increasing data-processing efficiencies and empowering remote working.
• Formal engagement channels with key clients and suppliers.
• Focus on developing innovative climate-related solutions.
• Continuous employee engagement initiatives and feedback loops.
• Strengthened risk oversight, new policies, mandatory training, and transparency.
• Actions to strengthen risk mitigation strategies governing employee hiring, supplier credentialing.

Supply Chain Management

Supplier Audits: Monitoring Tier 1 suppliers for potential violations (modern slavery, human rights abuses)

Responsible Procurement

• Supplier Code of Conduct and credentialing process

Climate-Related Risks & Opportunities

Physical Risks

• Heatwave, hurricane/cyclone, inland flooding, wildfire, sea level rise, water stress

Transition Risks

• Policy and Legal, Technology, Market, and Reputation

Opportunities

• Optimizing efficiency, minimizing resource consumption, reducing emissions
• Continued development of climate and weather solutions

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: Great Place to Work®

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Climate and weather solutions

Awards & Recognition

• Great Place to Work® certifications