Ageas

Ageas, an insurance and pension funding services provider headquartered in Belgium, reported total emissions of approximately 104,112,000 kg CO2e in 2024. This includes Scope 1 emissions of 16,238,000 kg CO2e, Scope 2 market-based emissions of 5,368,000 kg CO2e, and various Scope 3 emissions. Key Scope 3 categories for 2024 include fuel and energy-related activities at 19,636,000 kg CO2e, purchased goods and services at 20,728,000 kg CO2e, and downstream leased assets at 21,873,000 kg CO2e.

In 2023, Ageas's total emissions were approximately 41,607,000 kg CO2e, comprising Scope 1 emissions of 11,342,000 kg CO2e, Scope 2 market-based emissions of 934,000 kg CO2e, and Scope 3 emissions such as fuel and energy-related activities at 9,712,000 kg CO2e and employee commute at 11,944,000 kg CO2e. This indicates a notable increase in reported emissions from 2023 to 2024, particularly in Scope 3 categories.

Ageas has set several climate commitments:

• The company aims to achieve carbon neutrality in its own operations (Scope 1 and 2) by 2024 at the latest.
• Ageas is committed to supporting the European Green Deal's net-zero greenhouse gas emission target by 2050.
• Under the "Elevate27" initiative, Ageas targets a 30% reduction in Scope 1, Scope 2, and Scope 3 business travel and commuting emissions from its insurance activities between 2023 and 2027.
• Ageas also aims to reduce overall GHG emissions by 30% by 2027 compared to the 2023 baseline for its consolidated insurance entities.
• A further commitment includes reducing GHG emissions by 40% compared to 2019 levels by 2024, specifically for Scope 1 and Scope 2.
• By 2030, Ageas has committed to reducing the GHG intensity in listed equities, corporate bonds of listed issuers, and direct infrastructure portfolios by 50% compared to the 2021 baseline (excluding unit-linked). This intensity target applies to Scope 1, Scope 2, and Scope 3.