22nd May 2022
SCOR has a longstanding commitment to fighting climate change, undertaking numerous actions to help reduce greenhouse gas emissions and facilitate the just transition to a low carbon economy. Supporting clients as they shift their business models in this direction forms part of the Group’s contribution to the welfare, resilience and sustainable development of society.
A founding member of the Net-Zero Insurance Alliance, SCOR continues to adapt its underwriting practices to actively participate in the transition to net zero. SCOR believes that reaching net zero can only be achieved by combining climate mitigation and climate adaptation measures, supported by strong engagement with clients and partners, and an active approach to transition.
During its General Meeting this week, SCOR announced two further steps in Specialty Insurance1 toward a low carbon economy, further strengthening its sustainability strategy:
-No coverage for new oil field production projects from 2023
-Ambition: double the coverage for low carbon energies by 2025.
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