Cathay Life Insurance Co.,Ltd. Sustainability Profile
Cathay Life Insurance Co., Ltd., a prominent player in the insurance industry, is headquartered in Taipei, Taiwan (TW). Established in 1962, the company has grown to become one of the largest life insurers in the region, offering a diverse range of financial products and services. Its core offerings include life insurance, health insurance, and investment-linked policies, distinguished by their customer-centric approach and innovative solutions. With a strong market presence in Taiwan and expanding operations across Asia, Cathay Life has achieved significant milestones, including numerous awards for service excellence and financial stability. The company is recognised for its commitment to sustainability and social responsibility, further solidifying its position as a trusted provider in the life insurance sector.
DitchCarbon Score
How does Cathay Life Insurance Co.,Ltd.'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
Cathay Life Insurance Co.,Ltd.'s score of 44 is higher than 61% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Cathay Life Insurance Co.,Ltd.'s reported carbon emissions
In 2023, Cathay Life Insurance Co., Ltd. reported total carbon emissions of approximately 27,141,270 kg CO2e, which includes 2,617,780 kg CO2e from Scope 1 and 24,523,490 kg CO2e from Scope 2 emissions. Additionally, Scope 3 emissions from business travel accounted for about 204,290 kg CO2e. This data reflects a commitment to transparency in emissions reporting, with disclosures covering all relevant scopes. Cathay Life has set ambitious reduction targets as part of its Zero Carbon Operation Transformation plan, initiated in June 2021. The company aims to achieve a 5% reduction in both Scope 1 and Scope 2 emissions by 2025, using 2020 as the baseline year. Furthermore, Cathay Life is committed to a long-term goal of reaching net zero carbon emissions by 2050, which will be pursued through the adoption of renewable energy, energy-efficient equipment, and green building practices. The emissions data for Cathay Life is cascaded from its parent company, Cathay Financial Holding Co., Ltd., which oversees the broader climate initiatives and targets. This corporate family relationship ensures that Cathay Life aligns with the sustainability goals set at the group level, reinforcing its commitment to reducing its carbon footprint and contributing to global climate efforts.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 2,548,050 | 0,000,000 |
| Scope 2 | 27,079,210 | - |
| Scope 3 | 49,500 | - |
How Carbon Intensive is Cathay Life Insurance Co.,Ltd.'s Industry?
How Carbon Intensive is Cathay Life Insurance Co.,Ltd.'s Location?
Cathay Life Insurance Co.,Ltd.'s Scope 3 Categories Breakdown
Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
Cathay Life Insurance Co.,Ltd.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Cathay Life Insurance Co.,Ltd. has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
