The Greenhouse Neutral Programme (2003-2020)

Tackling the carbon footprint of our own operations was an integral part of our efforts to tackle climate change. To meet this objective, we launched our Greenhouse Neutral Programme in 2003. The programme's first phase ended in 2013 and combined two original commitments: cutting our GHG emissions by 15% per worker (full-time equivalent, FTE) and offsetting all the remaining emissions. 

Key measures and achievements of Phase 1 (2003-2013)

By the end of 2013, we had achieved a total reduction of the reported GHG emissions per worker (FTE) of 49% and had compensated all the remaining emissions. For this purpose, we purchased and retired high-quality Voluntary Emissions Reductions (VERs) from projects that also had social benefits (for further information, see tab at the bottom of the page). Almost halving our reported operational emissions over a ten-year period was made possible through the following measures: switching to renewable energy at all locations where this was available in reliable quality; continuous improvements in energy efficiency; and, to a lesser degree, curbing business air travel. The gain in energy efficiency (ie reduction of energy intensity) achieved by the end of 2013 was 47% per FTE.

Phase 2 (2014-2020)

When the first phase of our Greenhouse Neutral Programme ended in 2013, we made a new, seven-year commitment until the end of 2020. After almost halving our reported GHG emissions per worker between 2003 and 2013, the potential for further reductions was smaller, though. Our goal over the full seven-year cycle was to maintain the level of emissions reached at the end of 2013 – an ambitious goal in view of our expansion strategy in high-growth markets.

The final figures of the programme per end of 2020 have been distorted by the effect of the COVID-19 pandemic. For example, our total reported GHG emissions per worker (FTE) in 2020 were just 45% of the 2019 level, resulting in an overall decrease of 60% per FTE between 2013 and 2020. However, we had already achieved a 10% reduction of total GHG emissions per FTE by the end of 2019, meeting and exceeding our zero-increase target.

Thus, by the end of 2020, we had reduced total reported GHG emissions per worker (FTE) by 80% relative to the level of 2003 (54% between 2003 and 2019), mainly as a result of the following measures:

• Achieving 100% of renewable electricity use across our locations
• Moving into more energy-efficient buildings, eg in Zurich (Swiss Re Next), New York, Bangalore and Tokyo
• Substantial upgrading of existing building technologies
• Improved office utilisation due to the creation of more flexible and modern office environments

Expanded scope of GHG reporting

The Greenhouse Gas (GHG) Protocol, the most widely used standard for GHG emissions accounting and reporting, defines three categories of GHG emissions:

• Scope 1: Direct emissions from own or controlled sources
• Scope 2: Indirect emissions from purchased energy
• Scope 3: Emissions from other activities along the value chain

During the first phase of our Greenhouse Neutral Programme, we reported on our Scope 1 and Scope 2 emissions (heating and power consumption, respectively) as well as a major source of operational Scope 3 emissions (business air travel).

For the second phase of our Greenhouse Neutral Programme, we extended the scope of our emissions accounting and reporting: in addition to business air travel, this included use of copy paper, waste generation, water consumption, technical gases and employee commuting. 

Key elements of Phase 2

• Maintain the GHG emissions intensity achieved in 2013 for heating, power consumption and business travel.
• Fully offset the remaining emissions from the three former sources and four new sources through carbon avoidance certificates.
• Continuously reduce our energy intensity (heating and power consumption) by 2% per year (kWh/FTE).
• Use 100% of electricity from renewable sources by the end of 2020.