Mgic
Mgic, officially known as Mortgage Guaranty Insurance Corporation, is a leading provider of mortgage insurance headquartered in the United States. Founded in 1957, the company has established a strong presence across various regions, primarily serving the residential mortgage market. Specialising in mortgage insurance solutions, Mgic offers unique products that help lenders manage risk while enabling homeownership for borrowers. The company is recognised for its innovative approach and commitment to customer service, which has solidified its position as a trusted partner in the industry. With a history of significant milestones, Mgic continues to be a key player in the mortgage insurance sector, contributing to the stability and growth of the housing market. Its dedication to quality and reliability has earned it a notable reputation among lenders and homeowners alike.
DitchCarbon Score
How does Mgic'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
Mgic's score of 23 is lower than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Mgic's reported carbon emissions
In 2021, MGIC Reinsurance Corporation reported total carbon emissions of approximately 2,039,000 kg CO2e when considering both Scope 1 and Scope 2 emissions. This figure includes about 662,000 kg CO2e from Scope 1 emissions, which comprise 386,000 kg CO2e from mobile combustion and 117,000 kg CO2e from stationary combustion. Scope 2 emissions accounted for approximately 1,377,000 kg CO2e, with 984,000 kg CO2e attributed to purchased steam and a total market-based figure of about 3,022,000 kg CO2e. Despite the significant emissions reported, MGIC has not disclosed any specific reduction targets or initiatives as part of their climate commitments. There are no emissions data cascaded from a parent or related organization, indicating that the reported figures are solely from MGIC itself. The company has not set any Science-Based Targets Initiative (SBTi) targets or made any climate pledges, reflecting a potential area for future commitment in addressing climate change.
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| 2021 | |
|---|---|
| Scope 1 | 662,000 |
| Scope 2 | 3,022,000 |
| Scope 3 | - |
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.
Mgic 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.
