Chubb’s annual Environmental Report outlines the full scope of the company’s environmental program and initiatives. The report addresses:
- Chubb’s approach to managing the potential risks from global climate change
- The insurance products and services we offer to facilitate market-based solutions to environmental and climate-related issues
- Our progress in reducing GHG emissions in our own operations
- Our corporate philanthropy that focuses on the environment.
Chubb reports to the CDP on an annual basis by disclosing climate change risks and opportunities as well as emissions performance. In addition, a third-party certified environmental statement on the company’s GHG emissions program is included in the company’s annual report.
Carbon Emissions Reductions
A primary objective of Chubb’s environmental program is to measure, record and reduce greenhouse gas (GHG) emissions in the company’s own operations. Between 2006 and 2012, a period that preceded ACE Limited’s January 2016 acquisition of The Chubb Corporation, GHG emissions at ACE were reduced 27% per employee, far exceeding the original goal of an 8% reduction per employee. In 2014, ACE set a new companywide goal to reduce GHG emissions 10% per employee by 2020 from a 2012 base year. Through 2015, the company has achieved a decrease in emissions of 5.3% per employee from the 2012 base year.
Chubb is committed to reducing its overall environmental impact and plans to announce an updated GHG reduction goal for the combined company in 2017. The company will continue to deploy successful approaches for GHG emissions reduction, including installing energy-efficient lighting and equipment and more efficient use of office space.
In 2016, the company earned a score of A- on the CDP’s climate change program ranking. Chubb was also one of only 22 insurers – out of 148 analyzed – to earn a “High Quality” designation for the comprehensiveness of its climate risk disclosures by Ceres, the nonprofit sustainability organization.
The environment is a priority in Chubb’s corporate philanthropy. Chubb supports communities around the world in which our employees live and work through our established philanthropic entities and via company-sponsored volunteer initiatives. For example, grants from Chubb’s charitable foundations have helped preserve sensitive lands and habitats across the U.S. and around the world, finance “green” business entrepreneurs, and support educational programs that promote a healthy and sustainable environment.
Chubb has been a pioneer in developing advanced environmental insurance solutions, including coverages for premises-based exposures, contractors’ and project pollution liability, renewable energy, clean tech and environmental cleanup projects, as well as “green building” consulting services and a property policy that enables greener rebuilding after a loss.
Chubb’s role in mitigating supply chain and global operations risks through its risk engineering services helps organizations identify climate-related exposures and provides risk management expertise to help manage environmental challenges caused by climate change.