Convex
Convex, officially known as Convex Insurance, is a prominent player in the global insurance industry, headquartered in Bermuda (BM). Founded in 2020, the company has quickly established itself as a leader in specialty insurance and reinsurance, focusing on innovative solutions tailored to complex risks. With a strong operational presence across North America, Europe, and Asia, Convex offers a diverse range of products, including property, casualty, and marine insurance. What sets Convex apart is its commitment to leveraging advanced technology and data analytics, enabling more efficient underwriting and risk assessment. The company has achieved significant milestones in a short span, including rapid growth in its client base and recognition for its customer-centric approach. As a result, Convex has positioned itself as a trusted partner in the insurance market, known for its agility and expertise in navigating evolving industry challenges.
DitchCarbon Score
How does Convex's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Convex's score of 36 is higher than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Convex's reported carbon emissions
In 2023, Convex reported total carbon emissions of approximately 5,378,000 kg CO2e. This figure includes 41,000 kg CO2e from Scope 1 emissions, 265,000 kg CO2e from Scope 2 emissions (with 131,000 kg CO2e attributed to purchased electricity), and a significant 5,205,000 kg CO2e from Scope 3 emissions, primarily driven by business travel. In 2022, Convex's total emissions were about 5,218,000 kg CO2e, with Scope 1 emissions at 46,000 kg CO2e, Scope 2 emissions at 276,000 kg CO2e, and Scope 3 emissions reaching 5,031,000 kg CO2e. The company has shown a slight increase in total emissions from 2022 to 2023. Convex has not disclosed specific reduction targets or initiatives, nor have they committed to the Science Based Targets initiative (SBTi). However, they continue to monitor and report their emissions, indicating a commitment to transparency in their climate impact. The company’s emissions intensity per full-time equivalent (FTE) has decreased from 12,170 kg CO2e in 2022 to 11,180 kg CO2e in 2023, suggesting some progress in operational efficiency. Overall, while Convex has not set formal reduction targets, their ongoing emissions reporting reflects an awareness of their carbon footprint and a potential pathway towards future climate commitments.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 46,000 | 00,000 |
| Scope 2 | 276,000 | 000,000 |
| Scope 3 | 5,031,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Convex is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
