Tower
Tower Insurance, commonly referred to as Tower, is a prominent insurance provider headquartered in New Zealand. Established in 1869, the company has evolved significantly, marking key milestones in the insurance industry, including its transition to a publicly listed entity. Tower primarily operates in New Zealand and the Pacific Islands, offering a comprehensive range of insurance products, including home, contents, and motor vehicle insurance. What sets Tower apart is its commitment to customer-centric solutions and innovative digital services, ensuring a seamless experience for policyholders. With a strong market position, Tower has garnered recognition for its reliability and responsiveness, making it a trusted choice for many New Zealanders. The company continues to adapt to changing market dynamics, reinforcing its status as a leader in the insurance sector.
DitchCarbon Score
How does Tower'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
Tower's score of 54 is higher than 98% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Tower's reported carbon emissions
In 2023, Tower reported total carbon emissions of approximately 12,506,000 kg CO2e, with emissions distributed across Scope 1 (165,000 kg CO2e), Scope 2 (166,000 kg CO2e), and Scope 3 (183,000 kg CO2e). This marked a significant increase from 2022, where total emissions were about 4,467,000 kg CO2e. The company has disclosed emissions data for all three scopes in recent years, with 2021 emissions at approximately 1,000,000 kg CO2e (Scope 1: 115,000 kg CO2e, Scope 2: 179,000 kg CO2e, Scope 3: 295,000 kg CO2e) and 2022 emissions showing a notable reduction in Scope 2 emissions to 146,000 kg CO2e, while Scope 3 emissions remained significant at 202,000 kg CO2e. Despite these figures, Tower has not set specific reduction targets or initiatives as part of their climate commitments, indicating a need for further action in addressing their carbon footprint. The absence of defined reduction strategies suggests that Tower may be in the early stages of developing a comprehensive climate action plan.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 169,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 207,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 209,000 | 000,000 | 000,000 | 000,000 | 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.
Tower is not committed to any reduction initiatives 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.
