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 21 is lower than 77% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Convex's reported carbon emissions
In 2024, Convex reported total carbon emissions of approximately 2,710,000 kg CO2e. This figure represents a slight decrease from the previous year's total of about 2,735,000 kg CO2e in 2023. The emissions data for 2022 indicates a more comprehensive breakdown, with Scope 1 emissions at 46,000 kg CO2e, Scope 2 emissions at 140,000 kg CO2e (market-based), and significant Scope 3 emissions of approximately 4,958,000 kg CO2e, primarily from business travel. Convex has not disclosed specific reduction targets or initiatives, nor does it appear to have cascaded data from a parent organisation. The company has not set Science-Based Targets Initiative (SBTi) reduction targets, indicating a potential area for future commitment. The absence of detailed emissions data for Scope 1 and Scope 2 in recent years suggests a need for improved transparency in their reporting. Overall, Convex's emissions profile reflects a commitment to monitoring and reporting, but further action may be necessary to establish clear reduction goals and strategies in line with industry standards.
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| 2021 | 2022 | |
|---|---|---|
| Scope 1 | 35,000 | 00,000 |
| Scope 2 | 74,000 | 000,000 |
| Scope 3 | 857,000 | 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 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.
