Mgic Sustainability Profile
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 25 is lower than 65% 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 2022, MGIC reported total emissions of approximately 686,600 kg CO2e, comprising 404,000 kg CO2e from Scope 1 and 282,600 kg CO2e from Scope 2 emissions. There is no available data for Scope 3 emissions. Comparatively, in 2021, MGIC's Scope 1 emissions were significantly higher at 533,000,000 kg CO2e, indicating a substantial reduction in direct emissions over the year. However, no specific reduction targets or initiatives have been disclosed, and there are no commitments to the Science Based Targets initiative (SBTi) or other climate pledges. MGIC's emissions data is not cascaded from any parent organisation, and all figures are reported directly from MGIC. The company continues to focus on its corporate responsibility and sustainability efforts, although specific reduction strategies have not been outlined.
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| 2021 | 2022 | |
|---|---|---|
| Scope 1 | 533,000,000 | 000,000 |
| Scope 2 | - | 000,000 |
| Scope 3 | - | - |
How Carbon Intensive is Mgic's Industry?
How Carbon Intensive is Mgic's Location?
Mgic'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.
Mgic 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.
