Hannover Re
Hannover Re, officially known as Hannover Rück SE, is a leading global reinsurance company headquartered in Hannover, Germany. Established in 1966, it has grown to become one of the largest reinsurers worldwide, with significant operations across Europe, North America, and Asia-Pacific. Specialising in property and casualty reinsurance, life and health reinsurance, and specialty lines, Hannover Re is renowned for its innovative solutions and strong risk management capabilities. The company has achieved notable milestones, including consistent financial strength ratings and a robust market position, making it a trusted partner for insurers globally. With a commitment to sustainability and digital transformation, Hannover Re continues to set industry standards, providing unique products and services that cater to the evolving needs of its clients.
DitchCarbon Score
How does Hannover 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
Hannover Re's score of 45 is higher than 70% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hannover Re's reported carbon emissions
In 2023, Hannover Re reported total carbon emissions of approximately 19,200,000 kg CO2e, with emissions distributed across various scopes: 389,240 kg CO2e (Scope 1), 1,454,630 kg CO2e (Scope 2, market-based), and 17,248,340 kg CO2e (Scope 3). The Scope 3 emissions were significantly influenced by business travel, accounting for about 15,910,570 kg CO2e. Comparatively, in 2022, the company recorded total emissions of around 14,500,150 kg CO2e, with Scope 1 emissions at 510,130 kg CO2e and Scope 2 emissions at 1,658,180 kg CO2e (market-based). This indicates a notable increase in emissions from 2022 to 2023. Hannover Re has set ambitious reduction targets, aiming for a 25% reduction in greenhouse gas emissions per employee at its Hannover location by 2023, using 2019 as the base year. Additionally, the company has tightened its goal to achieve a 30% reduction in its overall carbon footprint from corporate bonds, covered bonds, and equities by 2025, also based on 2019 levels. The emissions data is cascaded from its parent company, Hannover Rück SE, reflecting the company's commitment to sustainability and climate action within the insurance and reinsurance industry.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 510,130 | 000,000 |
| Scope 2 | 1,658,180 | 0,000,000 |
| Scope 3 | 14,500,150 | 00,000,000 |
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.
Hannover Re 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.
