GIC Re Sustainability Profile
GIC Re, or General Insurance Corporation of India, is a prominent player in the reinsurance industry, headquartered in Mumbai, India. Established in 1972, GIC Re has evolved into a leading global reinsurer, serving various operational regions including Asia, Africa, and the Middle East. The company offers a diverse range of products and services, including property, marine, and life reinsurance, distinguished by its robust underwriting expertise and innovative risk management solutions. With a strong market position, GIC Re has achieved significant milestones, such as being the first reinsurance company in India to be listed on the stock exchange. Its commitment to excellence and customer-centric approach has earned it a reputation for reliability and trustworthiness in the reinsurance sector, making it a preferred partner for insurers worldwide.
DitchCarbon Score
How does GIC 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
GIC Re's score of 29 is lower than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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GIC Re's reported carbon emissions
In 2023, GIC Re reported total carbon emissions of approximately 16,545,000 kg CO2e. This figure includes 495,000 kg CO2e from Scope 1 emissions, 1,050,000 kg CO2e from Scope 2 emissions, and a significant 15,000,000 kg CO2e from Scope 3 emissions. The total emissions for 2022 were slightly lower at about 16,110,000 kg CO2e, with Scope 1 at 510,000 kg CO2e, Scope 2 at 1,100,000 kg CO2e, and Scope 3 at 14,500,000 kg CO2e. In 2021, emissions were recorded at approximately 15,675,000 kg CO2e, with similar scope distributions. GIC Re has not set specific reduction targets or climate pledges, and there are no documented initiatives aimed at reducing emissions. The emissions data is sourced directly from the General Insurance Corporation of India, with no cascading from a parent or related organization. The company continues to monitor its carbon footprint as part of its commitment to environmental responsibility.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 525,000 | 000,000 | 000,000 |
| Scope 2 | 1,150,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 14,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is GIC Re's Industry?
How Carbon Intensive is GIC Re's Location?
GIC Re'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.
GIC Re 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.
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