Max Life Insurance Sustainability Profile
Max Life Insurance Company Limited, headquartered in New Delhi, India, is a prominent player in the life insurance industry. Founded in 2000, the company has established itself as a trusted provider of a wide range of insurance products, including term plans, savings plans, and retirement solutions. With a strong presence across major operational regions in India, Max Life Insurance is known for its customer-centric approach and innovative offerings. The company has achieved significant milestones, including high claim settlement ratios and numerous awards for service excellence. Max Life's unique blend of comprehensive coverage options and flexible policy terms positions it as a leader in the market, catering to the diverse needs of its clients. As a result, it continues to build a reputation for reliability and financial strength in the competitive landscape of life insurance.
DitchCarbon Score
How does Max Life Insurance'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
Max Life Insurance's score of 15 is lower than 88% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Max Life Insurance's reported carbon emissions
In 2023, Max Life Insurance reported total emissions of approximately 10,643,980 kg CO2e, comprising 265,640 kg CO2e from Scope 1 and 10,379,340 kg CO2e from Scope 2. This reflects a slight increase in emissions compared to 2022, where total emissions were about 7,705,140 kg CO2e, with Scope 1 emissions at 228,530 kg CO2e and Scope 2 emissions at 7,476,610 kg CO2e. In 2021, the company recorded total emissions of approximately 6,202,000 kg CO2e, with Scope 1 at 234,000 kg CO2e and Scope 2 at 5,968,000 kg CO2e. Max Life Insurance's emissions data is cascaded from its parent company, Axis Max Life Insurance Limited, and is part of a broader corporate family relationship with Max Financial Services Limited. However, there are currently no specified reduction targets or climate pledges in place, indicating a potential area for future commitment and improvement in their sustainability strategy. The company’s emissions per rupee of turnover for 2023 was approximately 0.002857 kg CO2e, highlighting the need for ongoing efforts to enhance operational efficiency and reduce carbon footprints in alignment with industry standards.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 234,000 | 000,000 | 000,000 |
| Scope 2 | 5,968,000 | 0,000,000 | 00,000,000 |
| Scope 3 | - | - | - |
How Carbon Intensive is Max Life Insurance's Industry?
How Carbon Intensive is Max Life Insurance's Location?
Max Life Insurance'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.
Max Life Insurance 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.
