Hannover Re
Hannover Re, officially known as Hannover Rück SE, is a leading global reinsurance company headquartered in Hannover, Germany. Established in 1966, it has grown to become one of the largest reinsurers worldwide, with significant operations across Europe, North America, and Asia-Pacific. Specialising in property and casualty reinsurance, life and health reinsurance, and specialty lines, Hannover Re is renowned for its innovative solutions and strong risk management capabilities. The company has achieved notable milestones, including consistent financial strength ratings and a robust market position, making it a trusted partner for insurers globally. With a commitment to sustainability and digital transformation, Hannover Re continues to set industry standards, providing unique products and services that cater to the evolving needs of its clients.
DitchCarbon Score
How does Hannover Re'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
Hannover Re's score of 45 is higher than 85% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hannover Re's reported carbon emissions
In 2023, Hannover Re reported total carbon emissions of approximately 17,248,340 kg CO2e, with emissions distributed across various scopes: 389,240 kg CO2e from Scope 1, 1,454,630 kg CO2e from Scope 2 (market-based), and 17,248,340 kg CO2e from Scope 3. The Scope 3 emissions were significantly driven by business travel, accounting for about 15,910,570 kg CO2e. Hannover Re has set ambitious reduction targets to mitigate its carbon footprint. The company aims to achieve a 25% reduction in greenhouse gas emissions per employee at its Hannover location for both Scope 1 and Scope 2 emissions by 2023, using 2019 as the base year. Additionally, Hannover Re has tightened its goal to reduce its overall carbon footprint from corporate bonds, covered bonds, and equities by 30% by 2025, again using 2019 as the baseline. These commitments reflect Hannover Re's proactive approach to addressing climate change and reducing its environmental impact, aligning with industry standards for sustainability and carbon management.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 510,130 | 000,000 |
| Scope 2 | 1,658,180 | 0,000,000 |
| Scope 3 | 14,500,150 | 00,000,000 |
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.
Hannover Re is not participating in any of the initiatives that 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.
