Fidelidade

Fidelidade, a Portuguese insurance and pension funding services provider (NAICS 66), aims for carbon neutrality by 2050, assuming significant behavioural changes. The company also targets a 50% reduction in emissions per employee by 2030, from a 2022 baseline. Furthermore, as part of its Transition Plan, Fidelidade has set science-based Scope 1, 2, and 3 (business travel) emission reduction targets aligned with limiting global warming to 1.5°C and the Paris Agreement, striving for net-zero in its own operations by 2040.

In 2025, Fidelidade's total Scope 1 emissions were 9,541,000 kg CO2e, Scope 2 market-based emissions were 7,430,000 kg CO2e, and Scope 3 emissions were 993,830,000 kg CO2e. These Scope 3 emissions included approximately 868,470,000 kg CO2e from investments, 23,044,000 kg CO2e from capital goods, 3,779,000 kg CO2e from business travel, 13,913,000 kg CO2e from employee commuting, 60,675,000 kg CO2e from purchased goods and services, 1,362,000 kg CO2e from waste generated in operations, 4,403,000 kg CO2e from fuel and energy-related activities, 106,000 kg CO2e from end-of-life treatment of sold products, 964,000 kg CO2e from upstream transportation and distribution, and 17,154,000 kg CO2e from downstream transportation and distribution.

In 2024, Fidelidade's total reported emissions were approximately 1,205,464,000 kg CO2e. This included 7,514,000 kg CO2e from Scope 1, 10,519,000 kg CO2e from Scope 2 (market-based), and 1,187,431,000 kg CO2e from Scope 3. The majority of Scope 3 emissions came from investments (approximately 1,133,099,000 kg CO2e), with other significant contributors being purchased goods and services (39,186,000 kg CO2e) and fuel and energy-related activities (4,669,000 kg CO2e).

For 2023, total reported emissions were approximately 1,171,283,000 kg CO2e, consisting of 7,791,000 kg CO2e from Scope 1, 11,392,000 kg CO2e from Scope 2 (market-based), and 1,152,099,000 kg CO2e from Scope 3. Investments accounted for about 1,097,229,000 kg CO2e of the Scope 3 total.

In 2022, Fidelidade's total reported emissions were approximately 1,371,419,000 kg CO2e, with 7,557,000 kg CO2e from Scope 1, 15,419,000 kg CO2e from Scope 2 (market-based), and 1,348,443,000 kg CO2e from Scope 3. Investments were the largest component of Scope 3 emissions at approximately 1,291,106,000 kg CO2e.

Historical data shows a significant increase in reported emissions from 2021 to 2022, with total reported emissions rising from approximately 3,139,000 kg CO2e in 2021 to 1,371,419,000 kg CO2e in 2022. This change is largely driven by a substantial increase in reported Scope 3 emissions. Fidelidade's emissions data is cascaded from its ultimate parent, Fidelidade - Companhia de Seguros, S.A.