RenaissanceRe Sustainability Profile
RenaissanceRe Holdings Ltd., commonly known as RenaissanceRe, is a leading global provider of reinsurance and insurance solutions, headquartered in the United States. Founded in 1993, the company has established a strong presence in key operational regions, including Bermuda, the United States, and Europe. Specialising in property and casualty reinsurance, RenaissanceRe is renowned for its innovative risk management solutions and advanced analytics capabilities. The firm’s unique approach to underwriting and its commitment to leveraging technology have positioned it as a market leader in the industry. With a robust portfolio of core products and services, RenaissanceRe has achieved notable milestones, including consistent recognition for its financial strength and operational excellence. The company’s dedication to delivering value to clients has solidified its reputation as a trusted partner in the reinsurance sector.
DitchCarbon Score
How does RenaissanceRe'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 Machinery and Equipment 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
RenaissanceRe's score of 20 is lower than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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RenaissanceRe's reported carbon emissions
In 2019, RenaissanceRe, headquartered in the US, reported total carbon emissions of approximately 10,795,000 kg CO2e. This figure includes 63,000 kg CO2e from Scope 1 emissions and 1,267,000 kg CO2e from Scope 2 emissions, primarily from purchased electricity. The majority of their emissions, about 9,465,000 kg CO2e, fall under Scope 3, specifically from business travel. Regionally, emissions data reveals that in the US, RenaissanceRe emitted around 947,000 kg CO2e, with Scope 2 emissions accounting for 268,000 kg CO2e and Scope 3 emissions at 679,000 kg CO2e. Other regions, such as Australia, the UK, and Switzerland, also contributed significantly to the overall emissions, with business travel being a major factor across all locations. Despite the substantial emissions reported, RenaissanceRe has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to the Science Based Targets initiative (SBTi). The company does not appear to have cascaded emissions data from a parent organisation, maintaining its own reporting standards. RenaissanceRe's commitment to addressing climate change remains unclear, as no specific climate pledges or reduction initiatives have been disclosed. The company’s emissions profile highlights the need for a strategic approach to mitigate its carbon footprint, particularly in the area of business travel, which constitutes a significant portion of its overall emissions.
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| 2019 | |
|---|---|
| Scope 1 | 63,000 |
| Scope 2 | 1,267,000 |
| Scope 3 | 9,465,000 |
How Carbon Intensive is RenaissanceRe's Industry?
How Carbon Intensive is RenaissanceRe's Location?
RenaissanceRe's Scope 3 Categories Breakdown
The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
RenaissanceRe'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.
RenaissanceRe 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.
