Tata Aig General Insurance Sustainability Profile
Tata AIG General Insurance Company Limited, commonly referred to as Tata AIG, is a prominent player in the Indian insurance sector, headquartered in Mumbai, India. Established in 2001, this joint venture between Tata Group and American International Group (AIG) has rapidly evolved, offering a diverse range of insurance solutions across the country. Specialising in general insurance, Tata AIG provides innovative products including health, motor, travel, and home insurance. Their unique approach combines comprehensive coverage with exceptional customer service, setting them apart in a competitive market. With a strong presence in major operational regions across India, Tata AIG has garnered recognition for its commitment to customer satisfaction and efficient claims processing. As a leader in the industry, Tata AIG has achieved significant milestones, including numerous awards for excellence in service and product innovation, solidifying its position as a trusted insurance provider in India.
DitchCarbon Score
How does Tata Aig General 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 Financial Intermediation 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
Tata Aig General Insurance's score of 32 is higher than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Tata Aig General Insurance's reported carbon emissions
In 2021, Tata AIG General Insurance reported total carbon emissions of approximately 517,033,000 kg CO2e. This figure includes Scope 1 emissions of about 77,262,000 kg CO2e, Scope 2 emissions of around 17,015,000 kg CO2e, and Scope 3 emissions, which consist of business travel (approximately 4,410,000 kg CO2e) and fuel and energy-related activities (about 6,946,000 kg CO2e). The company has set ambitious climate commitments, reaffirming its operational net zero target by 2050 or sooner, with a specific focus on achieving 100% renewable energy sourcing for its operations by 2030. Additionally, Tata AIG aims for a 50% reduction in operational print by 2023 and a 90% reduction by 2025, both measured from 2019 levels. Tata AIG is a current subsidiary of Tata AIG General Insurance Company Limited, which has cascaded its emissions data and climate initiatives. The company is also a member of the Science Based Targets initiative (SBTi), committing to long-term net zero targets across all scopes. Overall, Tata AIG General Insurance is actively working towards significant emissions reductions and sustainable practices, aligning with industry standards and climate action goals.
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| 2019 | 2020 | 2021 | |
|---|---|---|---|
| Scope 1 | 71,106,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 17,121,000 | 0,000,000 | 00,000,000 |
| Scope 3 | 419,169,000 | 000,000,000 | 00,000,000 |
How Carbon Intensive is Tata Aig General Insurance's Industry?
How Carbon Intensive is Tata Aig General Insurance's Location?
Tata Aig General Insurance's Scope 3 Categories Breakdown
Tata Aig General Insurance's Scope 3 emissions, which decreased by 97% last year and decreased by approximately 97% since 2019, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 11% of total emissions under the GHG Protocol, with "Fuel and Energy Related Activities" being the largest emissions source at 61% of Scope 3 emissions.
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Tata Aig General 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.
Tata Aig General 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.
