Hiscox Insurance Company Inc. Sustainability Profile
Hiscox Insurance Company Inc., commonly referred to as Hiscox, is a leading specialist insurer headquartered in the United States, with significant operations across North America and Europe. Founded in 1901, Hiscox has established a strong reputation in the insurance industry, focusing on providing tailored coverage for small to medium-sized enterprises (SMEs) and high-net-worth individuals. The company offers a diverse range of products, including professional liability, property insurance, and cyber risk coverage, distinguished by their commitment to exceptional customer service and bespoke solutions. Hiscox's innovative approach has positioned it as a market leader, earning accolades for its robust underwriting practices and financial strength. With a rich history and a forward-thinking ethos, Hiscox continues to set benchmarks in the insurance sector, catering to the evolving needs of its clients.
DitchCarbon Score
How does Hiscox Insurance Company Inc.'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
Hiscox Insurance Company Inc.'s score of 41 is higher than 59% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Hiscox Insurance Company Inc.'s reported carbon emissions
In 2022, Hiscox Insurance Company Inc. reported total carbon emissions of approximately 21,011,000 kg CO2e. This figure includes 786,000 kg CO2e from Scope 1 emissions, which encompass direct emissions from owned or controlled sources. Scope 2 emissions, primarily from purchased electricity and heat, accounted for about 927,000 kg CO2e. The majority of emissions, approximately 19,298,000 kg CO2e, fell under Scope 3, which includes indirect emissions from the value chain. Hiscox has made significant strides in reducing its carbon footprint, achieving a 45% real-term reduction in Scope 1, 2, and 3 emissions per full-time equivalent (FTE) from 2014 to 2020. This target was initially set at a 15% reduction by the end of 2020. The reduction was partly influenced by decreased business travel during the COVID-19 pandemic, which has been identified as a major contributor to their emissions. The emissions data for Hiscox is cascaded from its parent company, Hiscox Ltd, reflecting a corporate family relationship. This cascading indicates that the reported figures are part of a broader commitment to sustainability within the organisation. Overall, Hiscox's climate commitments demonstrate a proactive approach to managing and reducing carbon emissions, aligning with industry standards and expectations for corporate responsibility in addressing climate change.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 615,000 | 000,000 | 000,000 |
| Scope 2 | 1,111,000 | 000,000 | 000,000 |
| Scope 3 | 27,461,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Hiscox Insurance Company Inc.'s Industry?
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Hiscox Insurance Company Inc.'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.
Hiscox Insurance Company Inc. 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.
