Compared to manufacturing companies, the environmental impacts of Hannover Re’s commercial operations as a service provider in the financial sector are relatively slight. The company nevertheless takes its responsibility for the environment very seriously and is committed to minimising the adverse environmental impacts of its own business activities. With this in mind, the focus of these efforts is on reducing CO2 emissions.

Climate Alliance Hannover 2020

Hannover Re is a member of the "Climate Alliance Hannover 2020", which was launched in 2008. Under this initiative the company has undertaken by 2020 to emit 40% less harmful greenhouse gases than in 1990. The specific contributions made by Hannover Re have been regularly checked every two years since 2011. Under the "Climate Alliance" Hannover Re additionally participates in the Business Strategy Group of the "Master Plan 2050 for the City and Region of Hannover, 100% for Climate Protection". In 2019, the decision was taken by the initiators to continue the programme as the Climate Alliance Hannover 2035 (German) – we are very pleased to be on board once again.

Hannover Re participates in other environmental initiatives. These can be found under our frameworks and initiatives.

Hannover Re is convinced that a comprehensive and consistent approach to tackling the challenges of climate change also includes managing the environmental and climate-related impacts of its own operations. This is just one reason why Hannover Re has had an environmental management system certified in accordance with the international standard DIN EN ISO 14001 since as long ago as 2016 at its head office in Hannover. Since 2016, the company has additionally published annually a validated EMAS III Environmental Statement in fulfilment of the Europe-wide legal requirement to perform energy audits.

As part of our environmental management, we are committed to continuous improvement and compliance with all applicable legal obligations and other requirements. The environmental policy is an integral component of our Sustainability Strategy

The focus of our climate protection efforts is on reducing CO2 emissions, which are caused above all by our business travel and more broadly by the supply of power and heat to our buildings. We have operated with a net zero carbon footprint at our Hannover location since 2016. Key factors in this achievement were the changeover in our electricity supply to renewables from 2012 onwards as well as the offsetting of our remaining greenhouse gas emissions through a not-for-profit provider.

Detailed information about our environmental management, our emissions pursuant to Greenhouse Gas Protocol as well as our environmental initiatives can be found in our Sustainability Report.

Offsets

Since 2008 Hannover Re has offset as part of our environmental management all calculated CO2 emissions of its German location (Scope 1 and 2 emissions (market-based) as well as Scope 3 emissions from paper consumption and business trips by train) and all COemissions due to air travel for the locations in Germany, Australia, India, Japan, Malaysia and Shanghai through the voluntary purchase of climate protection certificates in support of the Rimba Raya project in Borneo.

The Rimba Raya Reserve project not only supports measures against climate change, it also promotes some of the United Nations Sustainable Development Goals (inter alia SDG 1: End poverty, SDG 3: Healthy lives and well-being, SDG 5: Gender equality and empowerment). The project opens up new opportunities for the local population, for example through education and healthcare, thereby advancing the Sustainable Development Goals in multiple ways.