Climate change is one of the most complex and pressing issues of our time. We view climate change as an emerging, cross-cutting risk that can transmit to financial impact through existing risk types. Assessing, measuring and managing climate risk in our investment and underwriting portfolios is key to ensure our financial and operational resilience remain strong as we transition to a low-carbon future.

We’re committed to achieving Net Zero by 2050 through reducing our investment portfolio’s carbon footprint, divestment of select high emitters, and supporting companies in transition. We actively manage climate risks and engage top emitters to drive sustainable practices through stewardship and proxy voting. Our responsible financing approach integrates ESG considerations in investment decisions, outlining exclusions, and channels capital into climate solutions that support real world decarbonisation.

Since 2021, we have introduced prohibitions for new coal-fired power plants across our General Insurance portfolio. We continue to measure and track our underwriting emissions in our effort to decarbonise while supporting our clients in the transition. We’re also innovating our products to adapt to the ever-changing environment to ensure our customers continue to be protected against unforeseen events.

We're committed to reducing the environmental impact of our operations where feasible and promoting a culture of sustainability across the organisation. While we continue tracking progress towards our 2025 operational footprint goals, we’re also advancing our commitment to achieve net zero emissions across our operations by 2050.