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 41 is higher than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Tower's reported carbon emissions
In 2023, Tower's total carbon emissions amounted to approximately 12,506,000 kg CO2e, comprising 165,000 kg CO2e from Scope 1, 135,000 kg CO2e from Scope 2, and 177,000 kg CO2e from Scope 3 emissions. This represents a significant increase from 2022, where total emissions were about 4,467,000 kg CO2e, with Scope 1 emissions at 300,000 kg CO2e, Scope 2 at 126,000 kg CO2e, and Scope 3 at 191,000 kg CO2e. Tower has set ambitious science-based reduction targets, aiming for a 21% reduction in Scope 1 and Scope 2 emissions by 2025, using 2020 as the base year. This target translates to a reduction of approximately 116 kg CO2e from the 2020 baseline of 551,000 kg CO2e. The company is committed to achieving these reductions through various initiatives outlined in their climate strategy. As of 2024, Tower has not disclosed specific emissions data, but they continue to focus on their climate commitments and reduction strategies. The emissions data is not cascaded from any parent organization, indicating that Tower Limited is independently reporting its carbon footprint and climate initiatives.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 169,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 180,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 202,000 | 00,000 | 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 participating in any of the initiatives that 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.
