Hanover Insurance Group, commonly referred to as Hanover, is a prominent player in the insurance industry, headquartered in Worcester, Massachusetts, USA. Founded in 1852, the company has established itself as a leader in property and casualty insurance, serving a diverse range of clients across the United States.
With a strong focus on commercial and personal lines, Hanover offers unique products such as tailored insurance solutions for businesses and comprehensive coverage for individuals. The company is recognised for its commitment to innovation and customer service, which has solidified its market position.
Over the years, Hanover has achieved significant milestones, including strategic partnerships and expansions that enhance its operational reach. As a trusted name in the insurance sector, Hanover continues to deliver exceptional value and expertise to its clients.
-7 vs industry average
Hanover’s score of 30 is lower than 49% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Insurance Services is among the least carbon-intensive industries
Industry performance
The Insurance Services industry has reduced its overall emissions by 7% since 2019
Emissions trajectory 2020 – 2024
Reported emissions
Scope 3 accounts for ••• of total emissions.
Hanover's reported carbon emissions
In 2021, Hanover reported total carbon emissions of approximately 7,000,000 kg CO2e, comprising 1,695,000 kg CO2e from Scope 1, 851,000 kg CO2e from Scope 2, and 5,204,000 kg CO2e from Scope 3 emissions. The company has set ambitious climate commitments, aiming for net zero emissions by 2050 for both Scope 1 and Scope 2 emissions, with a target start year of 2023. These commitments reflect Hanover's dedication to addressing climate change and reducing its carbon footprint in alignment with industry standards. The emissions data is sourced directly from The Hanover Insurance Group, Inc., with no cascaded data from parent organizations.
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Hanover’s Climate Goals (2030 & 2050)
2 goals2050
We aim to achieve net zero emissions by 2050
We aim to achieve net zero emissions by 2050.
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Hanover
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