Sustainability governance

The Board approves the Group Sustainability Strategy and related targets. This includes the approval and periodic review of Swiss Re’s Climate Transition Plan. It has assigned detailed sustainability-related responsibilities to the Board committees. 

The GNSC oversees the execution of the Group Sustainability Strategy. This includes initiatives and actions specifically addressing climate change, such as Swiss Re’s Climate Transition Plan. Furthermore, the GNSC oversees that sustainability governance across the Group is aligned with the Group Sustainability Strategy and addresses sustainability matters from an impact, risk and opportunity perspective.

The AC assists the Board in ensuring the integrity of Swiss Re’s financial and non-financial reporting, and overseeing compliance with legal and regulatory requirements.

The CC establishes and reviews the compensation framework, guidelines and performance criteria. The performance criteria for allocating the short-term incentive pools to each Business Unit and Group Function, as well as the criteria impacting Group EC members’ short-term incentive payouts include sustainability aspects.

The RC supports the Board in ensuring the Group’s risk management and control framework, risk appetite and risk-taking principles are adequate, aligned with the business strategy and properly applied. This includes reviewing Swiss Re’s sustainability risk management activities and the changing risk landscape. 

The Group EC is responsible for the implementation of the Group Sustainability Strategy. The Group EC monitors performance in the area of sustainability. It also sets and monitors risk capacity limits, including for natural catastrophes, and determines product policy as well as underwriting and investment standards.

In 2024, the former Group Sustainability Council was transformed into a new Group EC sub-committee, the GSC, to further accelerate decision-making on sustainability matters and strengthen sustainability governance. The GSC oversees and steers sustainability-related efforts undertaken across the Group that are material or have strategic relevance. This entails providing guidance to support consistent and effective implementation of the Group Sustainability Strategy, including for Swiss Re’s Climate Transition Plan and compensation-linked sustainability criteria. The GSC’s responsibilities also include approving Group-level sustainability-related policies and standards, as well as approving the Group’s positioning and communication on sustainability. 

The Group CEO is responsible for overseeing the implementation of Swiss Re’s Group Sustainability Strategy, including progress made on external commitments. The Group CEO engages with external stakeholders to advance Swiss Re’s sustainability ambitions and represents Swiss Re in leading sustainability-related organisations.

As the Group EC delegate for sustainability, the Group CRO chairs the Group Sustainability Committee and ensures consistency across the Group in the approach to key sustainability themes and proposes Swiss Re’s Sustainability Report to the Group EC, AC and Board. As Group CRO, he is charged with establishing the Group’s risk management framework for all risk categories, including sustainability risk. In addition, he is responsible for Swiss Re Institute and oversees its research agenda, including sustainability topics. 

The Group CIO is responsible for the development and systematic integration of sustainability aspects along the entire investment process. The Group CIO, is also responsible for investment decisions related to the implementation of the Strategic Asset Allocation, including Swiss Re's Responsible Investing strategy.

The Group CHRO & Head CS is responsible for the Corporate Real Estate & Services and the Human Resources divisions. She steers and monitors Swiss Re’s direct environmental footprint toward the related targets within the Group’s CO2NetZero Programme. She also oversees the Group People Agenda, including the Diversity, Equity & Inclusion Strategy.

The Group CDTO is responsible for advancing sustainability in the Group’s supply chain, particularly with respect to increasing vendor compliance with ESG criteria, and for providing data and technology services to develop sustainability-related metrics.

The Group CFO is responsible for Swiss Re’s investor relations activities and public disclosures related to financial reporting, including the Annual Report. The Group CFO also supports the fulfilment of sustainability and climate-related reporting requirements at the legal entity level.

The Group CLO is responsible for advising on sustainability-related legal and compliance risks, and assisting the Group in mitigating such risks. He supports the Group as a strategic business partner in the implementation of the Swiss Re Group Sustainability Strategy and assists in ensuring good corporate governance.

The CEOs of P&C Re, Corporate Solutions and L&H Re are responsible for the consistent integration of underwriting-related sustainability targets and policies across their respective Business Unit. They ensure that progress is made against Swiss Re’s sustainability ambitions and manage sustainability-related risks and opportunities.