Would love to hear from insurance companies (or consultants working with them). How have you approached setting SBTs? Specifically, do you have any tips on scope and setting targets for Scope 3 emissions from investments (GHG Protocol Cat 15) and payments to providers (e.g. for claims on behalf of your customers (GHG Protocol Cat 1 - purchased goods and services)).
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Hi,
I guess Scope 3.15. is pretty straight forward following the SBTi FI Guidance.
Although we approached the topic we did not manage to set qualified SBT’s for our “insured emissions” - mostly because the insurance companies main focus is on the “life” segment.
Definitely necessary should be Scope 3.13. for real estate since this is usually quite a big amount in insurance companies.
An open question we are currently still discussing is how to handle premiums we pay back to the customer. We could either put that into the Scope 3.1 bucket (“we buy the services our insured customers uses”) or in Scope 3.11 (“our product is the insurance contract - if the product is “used” a service is bought by our customer”) . We have not fully decided on how to handle this yet - not only from a Carbon Footprint perspective but also from a Decarbonization pathway.
If anyone has faced such topics yet I would be happy to discuss.