Swiss Re announces carbon reduction target of 35% by 2025; full thermal coal phase-out by 2040

Written by Adam Cadle

16/03/2021

Swiss Re has announced a carbon reduction target for its investment portfolio of 35% by 2025.

In a statement published on its website today, Swiss Re also said it will move ahead with a full phase-out of thermal coal from its treaty business by 2030 (OECD) and 2040 (rest of the world).

Swiss Re will systematically engage with portfolio companies on developing climate strategies as part of a broader engagement framework. A target to increase investments in renewable and social infrastructure by $750m will be incorporated and in addition, a target to expand green, social and sustainability bond exposure to $4bn by the end of 2024 has been put in place (from $2.6bn at the end of 2020).

“The ambitious targets build on the already substantial decrease of the carbon intensities in Swiss Re’s corporate bond and listed equity portfolio of around 30% between 2015 and 2018,” it stated.

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