- Climate change transition risks impacting underwriting cycle judgment.
- New business risks due to lack of experience in climate change risk assessment.
- Market value risks from climate change's physical impact on regional assets.
- Investment credit risks from climate change disasters.
- Financial risks from higher compensation ratios and increased risks on payout for medical care.
China Reinsurance (Group) Corporation
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, China Reinsurance (Group) Corporation disclosed greenhouse gas emissions of 51.5K tCO2e/year. By scope: Scope 1: 7.1K tCO2e/year; Scope 2: 44.5K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
51.5K tCO2e/year
2023
Water Usage
609.6K tons/year
2023
Energy Use
11.6K tons of standard coal/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 7.1K tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 44.5K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
✅ Reported Environmental Achievements
- Reduced power consumption by 100,000 kWh year-on-year compared to 2022.
- Reduced greenhouse gas emissions by 4.39% compared with the same period last year.
- Sum insured in respect of serving green development was RMB3.1 trillion, representing a year-on-year increase of 26.8%
- Sum insured in respect of science and technology innovation exceeded RMB430 billion, representing a year-on-year increase of 16.4%
🎯 Climate & Sustainability Targets
🔜 Short-term
- By 2025, reduce comprehensive energy consumption per capita by 4% and water consumption per capita by 4% based on 2021 levels.
🌱 ESG Focus Areas
Climate ChangeRural RevitalisationGreen FinanceSustainable DevelopmentCorporate GovernanceSocial ResponsibilityHealthy China StrategyBelt and Road Initiative