In the past year, Chubb took another important step by agreeing to join the United Nations Global Compact, committing to implementing its core principles on the environment, labor, anticorruption and human rights.
For 10 years, Business Roundtable’s sustainability report has shown the positive impact business can have in advancing sustainability. This year also marks the 10th anniversary of Chubb’s environmental program. We’re proud to be a leader in developing insurance products and risk management services that facilitate market-based solutions to environmental and climate-related issues. We’re also proud of the progress we have made in reducing greenhouse gas (GHG) emissions in our own operations, as well as supporting environmental initiatives through philanthropic grants and company-sponsored volunteerism.
As a global property and casualty insurer, our business provides protection against risks, including the effect of natural catastrophes. Over time, we’ve seen an increasing trend in extreme weather events and recognize that climate change is a contributor. As a result, climate change is integrated into Chubb’s enterprise risk management strategies, as well as other aspects of our business.
Chubb is an industry pioneer in developing advanced environmental risk insurance solutions. For example, last year we issued environmental risk policies in more than 35 countries, and we insure more than one-third of the Global Cleantech 100. We also offer green building consulting services and a property policy that enables rebuilding to greener standards after a loss. Environmental risk is a meaningful and growing business for Chubb, as it is a meaningful and growing issue for society.
In our operations, the company has committed to reducing its carbon footprint. Between 2006 and 2012, a period that preceded ACE Limited’s January 2016 acquisition of The Chubb Corporation, GHG emissions were reduced 27 percent per employee. In 2014, ACE set a new goal to cut GHG emissions 10 percent per employee by 2020 from a 2012 base year. Through 2015, ACE achieved a decrease in emissions of 5.3 percent per employee. In 2016, the company earned a score of A- on the CDP’s climate change program ranking. Chubb plans to announce an updated GHG emissions reduction goal for the company this year.
In our corporate philanthropy, the environment is also a priority. Around the world, grants from Chubb’s charitable foundations are helping to preserve habitats and biodiversity, foster effective resource management, and finance “green-business” entrepreneurs.
In the past year, Chubb took another important step by agreeing to join the United Nations Global Compact, committing to implementing its core principles on the environment, labor, anticorruption and human rights. We look forward to the progress we will make over the next decade.