Primary Climate Goal
Munich Re's target annual all Scopes emissions for 2025 should be equal to 87 Kt = 12% * 98 Kt, according to the company's stated climate goal.
In order to achieve this goal, Munich Re would need to reduce its emissions at least by 3.3 Kt per annum over the period from 2022 to 2025:
3.3 Kt = ( 87 Kt - 73 Kt ) / (2025 - 2021)
This translates into a +4.5% increase in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Munich Re aims to reduce all Scopes by 12% by 2025 from a base year 2019
This target is most likely outdated and the company appears to have already achieved it
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Munich Re reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 67 Kt (+0.88/+1.3% y-o-y). At the sime time, carbon intensity was down at 0.9 t (-0.1 /-10% y-o-y).
Munich Re's Scope 3 emissions declined to 6 Kt (
The company is committed to reducing all Scopes by 12% by 2025 from a base year 2019, which it appears to have already achieved as of 2021. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Munich Re aims to achive carbon neutrality across its entire value chain (all Scopes) in 2030. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.