State Farm Mutual Automobile Insurance Company, commonly known as State Farm, is a leading provider of insurance and financial services headquartered in the United States. Founded in 1922, the company has grown to become one of the largest insurers in the nation, with a strong presence in auto, home, and life insurance sectors.
With its headquarters in Bloomington, Illinois, State Farm operates extensively across the US, serving millions of customers through a vast network of agents. The company is renowned for its commitment to customer service and innovative products, including unique offerings like the State Farm Drive Safe & Save programme, which rewards safe driving habits.
State Farm's market position is bolstered by its extensive financial strength and a reputation for reliability, making it a trusted choice for individuals and families seeking comprehensive insurance solutions.
-6 vs industry average
State Farm’s score of 33 is lower than 46% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Insurance Services is among the least carbon-intensive industries
Industry performance
The Insurance Services industry has reduced its overall emissions by 25% since 2018
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
State Farm's reported carbon emissions
State Farm has set a significant climate commitment to reduce its greenhouse gas (GHG) emissions by 50% by 2030, using 2019 as its baseline year. This target encompasses both direct emissions from owned or controlled sources (Scope 1) and indirect emissions consumed (Scope 2). The company's goal is aligned with the Science-Based Targets initiative's (SBTi) objective of limiting global temperature rise to below 1.5 degrees Celsius by 2050.
For its most recent reported year, 2024, State Farm reported Scope 1 and 2 emissions totalling approximately 90,523,000 kg CO2e. This represents a notable decrease from previous years, with 2023 emissions at about 100,492,000 kg CO2e, 2022 at approximately 108,842,000 kg CO2e, and 2021 at about 125,522,000 kg CO2e. Emissions in 2020 were approximately 173,144,000 kg CO2e, and in 2019, they stood at approximately 202,004,000 kg CO2e. The data indicates a downward trend in Scope 1 and 2 emissions over the period. State Farm acknowledges that Scope 3 emissions, specifically purchased goods and services, are a missing data point in its reporting.
The company's impact reports highlight progress towards its reduction goals, with on-track status noted for two-year and five-year projections related to its 2021 announcement. State Farm's commitment is further demonstrated through its alignment with the SBTi.
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State Farm’s Climate Goals (2030 & 2050)
3 goals2030
50% reduction in all scopes
In 2021, State Farm announced our goal to reduce GHG emissions 50% by 2030 using 2019 as our baseline year. Our goal includes both direct em…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Emissions comparison with industry peers
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