HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore Sustainability Profile
HSBC Insurance (Singapore) Pte. is a prominent player in the insurance industry, headquartered in Singapore (SG). Established as part of the HSBC Group, the company has built a strong reputation for its comprehensive Group Term Life and Group Medical Insurance portfolios, catering to the diverse needs of businesses and individuals across the region. Since its inception, HSBC Insurance has focused on delivering innovative insurance solutions that stand out in the competitive market. Their core offerings include robust life and medical insurance plans designed to provide financial security and peace of mind. With a commitment to customer service and a strong financial backing, HSBC Insurance has achieved notable milestones, solidifying its position as a trusted provider in Singapore's insurance landscape.
DitchCarbon Score
How does HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore'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 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
HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore's score of 58 is lower than 100% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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HSBC Insurance (Singapore) Pte., which encompasses the Group Term Life and Group Medical Insurance Portfolios, currently does not have specific emissions data available for the most recent year. As a result, there are no reported carbon emissions figures in kg CO2e for the organisation. However, it is important to note that HSBC Insurance (Singapore) is part of a larger corporate family, with emissions data and climate commitments cascading from HSBC Holdings plc, the ultimate parent company. This relationship indicates that while specific emissions data for the Singapore entity is not disclosed, it aligns with the broader sustainability initiatives and targets set by HSBC Holdings plc. HSBC Holdings plc has made significant commitments to reduce its carbon footprint, including participation in the Carbon Disclosure Project (CDP) and the RE100 initiative, both of which aim to enhance transparency and promote renewable energy usage. These commitments are cascaded down through the corporate structure, influencing the operational practices of HSBC Insurance (Singapore). As of now, there are no specific reduction targets or achievements reported for HSBC Insurance (Singapore) in relation to its carbon emissions. The organisation's climate commitments are likely to be informed by the overarching strategies of HSBC Holdings plc, which is focused on achieving net-zero emissions in its operations and financing activities by 2050. In summary, while HSBC Insurance (Singapore) does not currently report specific emissions data or reduction targets, it is integrated into the climate commitments of its parent company, HSBC Holdings plc, which is actively working towards significant sustainability goals.
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| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2014 | 2015 | 2016 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - | - | - | 0,000 | 0,000 | 0,000 | 0,000 | 0,000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000,000 |
| Scope 2 | - | - | - | - | - | - | - | - | - | - | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 3 | 88,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 | 00,000,000 | 000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
How Carbon Intensive is HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore's Industry?
How Carbon Intensive is HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore's Location?
HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore's Scope 3 Categories Breakdown
HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore's Scope 3 emissions, which increased by 1% last year and increased significantly since 2004, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 49% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 77% of Scope 3 emissions.
Top Scope 3 Categories
HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore'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.
HSBC Insurance (Singapore) Pte., Group Term life and Group Medical Insurance Portfolios in Singapore 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.
