GlobalData offers a comprehensive analysis of Liberty Mutual Insurance, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Liberty Mutual Insurance‘s ESG performance. GlobalData’s company profile on Liberty Mutual Insurance offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Liberty Mutual Insurance is committed to reduce its carbon emissions. By 2030, the company aims to reduce Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 50% from 2019 levels. In terms of current emissions, the company reported the following figures for 2022: Scope 1 CO2e emissions were 29,236 MTCO2e, Scope 2 CO2e emissions (location-based) were 40,530 MTCO2e, Scope 2 CO2e emissions (market-based) were 36,791 MTCO2e, and Scope 3 CO2e emissions were 29,518 MTCO2e. The company is actively working to reduce its operational carbon footprint by increasing operational efficiencies and identifying renewable energy opportunities across its real estate portfolio. Additionally, the company achieved a 43% reduction in GHG emissions compared to its 2019 baseline.
To achieve its emission reduction goals, Liberty Mutual has taken several steps. The company has made significant investments in renewable energy and energy transition solutions. Additionally, it is piloting solar-powered generators for internal operations and researching wind-driven fires and the impact of past climate changes on hurricane activity. Through its Print$mart initiative, Liberty Mutual achieved a remarkable 73% reduction in total printed page volume in 2022 compared to 2019 levels. This impactful initiative resulted in significant environmental conservation, with employees saving 24 million gallons of water, preserving 27,796 trees, and reducing both CO2 and greenhouse gas emissions by 3,295 tons and 1,158 tons, respectively.
Liberty Mutual is actively managing climate-related risks and considering the potential impact of the transition to a low-carbon economy on its portfolios, geography, business divisions, and product segments. The company is committed to collaborating with stakeholders, including the government, to address gaps in data and scientific understanding of climate change. It is also assessing liability risks related to climate change and incorporating the latest research and insights into its risk management strategies.
In conclusion, Liberty Mutual Insurance is dedicated to reduce its carbon footprint. The company is taking concrete steps to reduce emissions, invest in renewable energy, and manage climate-related risks. By prioritizing sustainability and implementing various initiatives, Liberty Mutual is working towards a low-carbon future.
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