- Climate change can result in claim frequency/severity increasing.
- Undesirable customer experience could result in loss of customers or reputational loss.
- Shallow reach of insurance products and services in India, especially in mass and rural segments.
Bajaj Allianz General Insurance Company Limited
Greenhouse gas emissions & sustainability report data
In its 2023-04 to 2024-03 reporting, Bajaj Allianz General Insurance Company Limited disclosed greenhouse gas emissions of 7.9K tCO2e/year. By scope: Scope 1: 179.4 tCO2e/year; Scope 2: 4.6K tCO2e/year; Scope 3: 3.1K 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
7.9K tCO2e/year
2023-04 to 2024-03
Renewable Energy
35% of total energy use
of total energy
Water Usage
82.0K KL/year
2023-04 to 2024-03
Waste
9.28 MT/year
2023-04 to 2024-03
Energy Use
6.4M KWH/year
2023-04 to 2024-03
📊 Emissions by Scope (2023-04 to 2024-03)
| 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). | 179.4 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 4.6K tCO2e/year |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 3.1K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
✅ Reported Environmental Achievements
- 5% Reduction in net GHG emissions in FY2024 compared to the previous year
- 35% Increase in renewable energy generation in FY2024 compared to the previous year
- Planted more than 1,200 trees
- Savings on ~1.2 MTCO2e by migrating to cloud infrastructure
🎯 Climate & Sustainability Targets
🔜 Short-term
- More than 90% of the applicable portfolio of BAGIC would be assessed for ESG by FY2025.
- Implement the EHS Manual and the EHS Management system across owned properties by FY2026
- Aim for certificate of compliance for ISO 14001:2015 and ISO 45001:2018 post implementation for select large offices by FY2026
📅 Medium-term
- Environment restoration through tree plantation by planting one tree per employee by 2027.
🔭 Long-term
- Expand presence in semi-urban/rural parts of India through GEO model
🌱 ESG Focus Areas
Preserving and Protecting EnvironmentEmpowering SocietyHuman Capital ManagementCustomer CentricityGovernanceStakeholder EngagementCyber SecurityFinancial Inclusion