Swiss Re publishes Sustainability Report 2023
The Sustainability Report 2023 provides transparency on progress made in implementing the Group Sustainability Strategy during the year.
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On 13 March, Swiss Re published the Sustainability Report, together with the company's Financial Report and Business Report. The Sustainability Report 2023 is the first published in accordance with the new legal reporting requirements in Switzerland, and will be subject to a vote by shareholders at the 160th Annual General Meeting in April 2024.
The Sustainability Report describes how Swiss Re has implemented the two ambitions of our Group Sustainability Strategy: advancing the net-zero transition and building societal resilience. To support the net-zero transition, in 2023 we published our insurance-associated greenhouse gas emissions, as well as our net-zero insurance targets for selected single-risk underwriting portfolios, for the first time. Additionally, in 2023, the first full year without COVID-19 travel restrictions, we reduced greenhouse gas emissions from business air travel by more than 60% compared to 2018. On the asset management side, we reduced the carbon intensity of our corporate bond and listed equity portfolio by 45% relative to the base year 2018.
Supporting the building societal resilience ambition, in 2023 we helped to reduce the protection gap by providing natural catastrophe protection amounting to USD 5.7 billion in premiums across the Group and reinsured 212 million Life & Health policies (in force).
Swiss Re's climate-related financial disclosures (TCFD) as well as a description of our approach to sustainability governance, both of which were previously part of the Financial Report, have now been fully integrated into the Sustainability Report.
The Sustainability Report 2023 has received independent limited assurance from KPMG AG and was approved by our Board of Directors on 12 March 2024.
In addition to the Sustainability Report, you can find a presentation containing Extracts from the Sustainability Report as well as a downloadable Excel file containing sustainability data, on Swiss Re's Financial Information page.
For a comprehensive overview of our performance in 2023, the Sustainability Report should be read in conjunction with the Financial Report.