Phoenix Holdings
Phoenix Holdings, also known as The Phoenix Group, is a prominent player in the financial services industry, headquartered in Great Britain. Established in 2006, the company has rapidly evolved, focusing on life insurance and asset management, with a strong presence across the UK and Europe. The Phoenix Group is renowned for its innovative approach to managing and consolidating closed life insurance books, offering unique solutions that cater to the needs of policyholders and investors alike. With a commitment to sustainability and responsible investment, the company has achieved significant milestones, including strategic acquisitions that have bolstered its market position. Recognised for its robust financial performance and customer-centric services, Phoenix Holdings continues to set industry standards, making it a trusted name in the financial landscape.
DitchCarbon Score
How does Phoenix Holdings'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
Phoenix Holdings's score of 56 is higher than 78% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Phoenix Holdings's reported carbon emissions
In 2023, Phoenix Holdings reported total carbon emissions of approximately 11,357,000 kg CO2e, with emissions distributed across various scopes: 2,433,000 kg CO2e from Scope 1, 23,000 kg CO2e from Scope 2 (market-based), and 8,901,000 kg CO2e from Scope 3. The Scope 3 emissions included significant contributions from business travel (2,746,000 kg CO2e) and employee commuting (5,083,000 kg CO2e). For 2022, the total emissions were about 11,062,000 kg CO2e, with Scope 1 emissions at 2,684,000 kg CO2e and Scope 2 emissions at 7,000 kg CO2e. The Scope 3 emissions for that year were notably higher, reaching approximately 15,395,000 kg CO2e. Phoenix Holdings has set ambitious climate commitments, aiming for net zero emissions in its operations by 2025, which encompasses Scope 1 and 2 emissions from occupied premises and Scope 3 emissions from business travel. Additionally, the company is targeting a 25% reduction in the carbon intensity of its listed equity and credit assets by 2025. Long-term goals include achieving net zero across its investment portfolio by 2050. The company is committed to a 50% reduction in emissions by 2030, covering all scopes, as part of its broader strategy to become a net zero business by 2050. These targets are aligned with the Science Based Targets initiative (SBTi) and reflect Phoenix Holdings's dedication to addressing climate change and reducing its carbon footprint.
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| 2015 | 2016 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 20,501,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 50,966,000 | 00,000,000 | 0,000,000 | 0,000,000 | 00,000 | 0,000 | 00,000 |
| Scope 3 | 115,987,000 | 000,000,000 | 000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
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.
Phoenix Holdings is participating in some 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.
