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 79% 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 2022, Convex reported total carbon emissions of approximately 5,000,000 kg CO2e, with significant contributions from Scope 3 emissions, which accounted for about 4,958,000 kg CO2e, primarily from business travel. Scope 1 emissions were recorded at 46,000 kg CO2e, while Scope 2 emissions totalled 140,000 kg CO2e (market-based) and 276,000 kg CO2e (location-based). In 2021, the company’s emissions were lower, with Scope 1 at 35,000 kg CO2e, Scope 2 at 74,000 kg CO2e (market-based), and Scope 3 at approximately 857,000 kg CO2e. The 2020 emissions data indicates a total of 43,000 kg CO2e, but specific scope breakdowns were not disclosed for that year. Convex has not set specific reduction targets or initiatives, nor does it report any commitments to the Science Based Targets initiative (SBTi) or other climate pledges. The absence of reduction targets suggests a need for enhanced climate action strategies within the organisation. All emissions data is sourced directly from Convex Group Limited, with no cascaded data from parent or related organisations.
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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.
