Munich Re

Reinsurance
MUV2.DE
€ 240 (0.54)%
Share price
$ 33 bn
Market Cap
$ 31 bn
Enterprise Value

Carbon footprint

2.2 Ton
GHG emissions per $ 1 mln investment
0.05x the weighted average for S&P 500
FY2021
How is this calculated?
+1.3%
YOY change in GHG emissions
Weaker than the +4.9% weighted average for S&P 500
FY2021 vs. previous year

Primary Climate Goal

+4.5%
Proj. YOY change in GHG emissions (all Scopes)
FY2022
How is this calculated?

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This target is most likely outdated and the company appears to have already achieved it
This target has not been verified as science based according to SBTi
Munich Re's actual and proj. GHG emissions (all Scopes) (Kt of CO2e)

GHG emissions and Carbon intensity

Munich Re's GHG emissions (market-based) (Kt of CO2e)
Munich Re's Carbon intensity (Tons per 1 USDm)

Munich Re's carbon footprint

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 (-0.88 /-12.7% y-o-y). The rate of decline has slowed vs. the previous periods (CAGR -39.5% since 4Q'19).

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.

Company environmental metrics

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