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 80% 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 reported total carbon emissions of approximately 3,527,000 kg CO2e, which includes 662,000 kg CO2e from Scope 1 emissions and 2,302,000 kg CO2e from Scope 2 emissions. The breakdown of Scope 1 emissions indicates that mobile combustion accounted for about 386,000 kg CO2e, while stationary combustion contributed approximately 117,000 kg CO2e. For Scope 2 emissions, the total market-based emissions reached about 3,022,000 kg CO2e, with purchased steam accounting for 984,000 kg CO2e. Despite these figures, Mgic has not disclosed any specific reduction targets or initiatives aimed at decreasing their carbon footprint. The absence of Scope 3 emissions data suggests a potential area for future reporting and commitment. Overall, Mgic's climate commitments remain vague, with no defined strategies or pledges outlined in their recent disclosures.
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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.
