Phoenix Holdings Sustainability Profile
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 79 is higher 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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Phoenix Holdings's reported carbon emissions
In 2024, Phoenix Holdings reported total carbon emissions of approximately 11,000,000 kg CO2e, comprising 2,111,000 kg CO2e from Scope 1, 0 kg CO2e from Scope 2, and 8,889,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions included significant contributions from business travel (2,310,000 kg CO2e) and employee commuting (4,507,000 kg CO2e). In 2023, the total emissions were about 11,000,000 kg CO2e, with Scope 1 emissions at 2,433,000 kg CO2e and Scope 2 emissions at 3,856,000 kg CO2e. Phoenix Holdings has set ambitious climate commitments, aiming for net zero carbon 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 50% reduction in emissions by 2030, covering all scopes. They are also committed to achieving net zero in their investment portfolio by 2050, with interim targets to guide their progress. The company has committed to reducing the carbon intensity of its listed equity and credit assets by 25% by 2025, where they exercise influence and control. These targets are part of a broader strategy to align with the Science Based Targets initiative (SBTi) and demonstrate their commitment to sustainable practices within the financial sector.
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| 2015 | 2016 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2,874,000 | 0,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000 | 0,000,000 | - |
| Scope 3 | 115,987,000 | 000,000,000 | - | 0,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 0,000,000 | 0,000,000 |
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Phoenix Holdings's Scope 3 Categories Breakdown
Phoenix Holdings's Scope 3 emissions, which decreased by 3% last year and decreased by approximately 92% since 2015, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 59% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 51% of Scope 3 emissions.
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Phoenix Holdings'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.
Phoenix Holdings has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Phoenix Holdings's sustainability data and climate commitments