Qbe Insurance Sustainability Profile
QBE Insurance Group Limited, commonly known as QBE Insurance, is a leading global insurer headquartered in Sydney, Australia. Founded in 1886, QBE has established a strong presence across major operational regions, including North America, Europe, and the Asia-Pacific. The company operates within the insurance industry, focusing on various business areas such as property, casualty, and specialty insurance. QBE's core products and services are distinguished by their tailored solutions and customer-centric approach, catering to both individual and commercial clients. With a commitment to innovation and risk management, QBE has achieved notable milestones, including its recognition as one of the top 20 insurers worldwide. This market position underscores QBE's dedication to delivering reliable insurance solutions while maintaining a strong financial foundation.
DitchCarbon Score
How does Qbe Insurance'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
Qbe Insurance's score of 77 is higher than 87% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Qbe Insurance's reported carbon emissions
In 2024, QBE Insurance reported total carbon emissions of approximately 27,862,000 kg CO2e, comprising 7,746,000 kg CO2e from Scope 1, 7,413,000 kg CO2e from Scope 2, and 19,406,000 kg CO2e from Scope 3 emissions. This represents a slight decrease from 2023, where total emissions were about 31,191,000 kg CO2e. The company has set ambitious targets to reduce its carbon footprint, aiming for a 30% reduction in Scope 1 and 2 emissions by 2025, based on 2018 levels. Additionally, QBE is committed to achieving net-zero emissions for its operational Scope 1 and 2 emissions by 2030, with plans to extend this commitment to include material Scope 3 emissions. QBE's emissions reduction initiatives are aligned with a 1.5°C trajectory, as indicated by their science-based targets. The company has also targeted a 25% reduction in the carbon intensity of its developed market equity portfolio by 2025, relative to a 2019 baseline. These commitments reflect QBE's proactive approach to addressing climate change and its responsibility as a global insurer headquartered in Australia.
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| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 10,777,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 33,639,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | 11,847,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Qbe Insurance's Industry?
How Carbon Intensive is Qbe Insurance's Location?
Qbe Insurance's Scope 3 Categories Breakdown
Qbe Insurance's Scope 3 emissions, which decreased by 14% last year and increased by approximately 64% since 2013, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 56% of total emissions under the GHG Protocol, with "Business Travel" being the largest emissions source at 37% of Scope 3 emissions.
Top Scope 3 Categories
Qbe Insurance'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.
Qbe Insurance 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.
