Helvetia is committed to mitigating climate change and has defined a climate strategy

Media release
St. Gallen, 30 June 2023
 

Helvetia is specifying its goals in terms of mitigating climate change. The measures that have been decided include firstly the ongoing implementation of CO₂-reduction measures in the company's own business activities with the aim of reaching net zero by 2040. Secondly, Helvetia has defined an exit strategy for coal-related business activities and other exclusion criteria for business transactions related to oil and gas. Thirdly, the insurance group is setting a net-zero target for indirect emissions from the investment and insurance business by 2050. Helvetia is there when it matters today and tomorrow. The insurance group thus sees itself as a supporter of the transition to a low-CO₂ economy and aims to seize business opportunities in the energy transition.   

Based on its sustainability strategy 20.25, Helvetia has drawn up a climate strategy with long-term goals and specific measures, which it is now implementing systematically. The measures comprise its own CO₂ emissions, the insurance business and the investment business. In parallel to implementation, Helvetia is continuously developing its climate strategy with interim targets and detailed implementation plans.

Net-zero target for business activities by 2040 
Calculated in terms of its workforce, Helvetia has reduced its CO₂ emissions by 48% since 2012 and since 2018 has qualified as a carbon-neutral company. The insurance company is stepping up the measures it has already launched and is committed to achieving its net-zero target by 2040 for its group-wide activities. This means that by then, all avoidable greenhouse gas emissions will be reduced and the remaining ones will be completely removed from the Earth's atmosphere by means of offset measures. The reduction focuses on emissions from buildings (heat), business travel and the use of electricity. 

Exit strategy for coal-related insurance business 
In parallel to the focus on its own business activities, Helvetia will also reduce its carbon footprint in the insurance business. Here, a clearly defined exit strategy for coal-related business is particularly important for the insurance group. In its primary insurance segment there are therefore specific requirements and deadlines for exiting these business activities. Helvetia is already no longer insuring coal mines, related infrastructure projects and new coal-based electricity generation projects. As of 1 September 2023 it will no longer insure energy companies that are expanding their coal-based activities. The continual exit from coal-related business activities is being implemented in an initial step by 2035 in the OECD countries and by 2040 worldwide.  

Net-zero target by 2050 for insurance business with oil and gas
Further measures and exclusion criteria have also been defined for business activities related to oil and gas. The gradual exit from these business activities is an important part of the CO₂ reduction pathway for indirect emissions from the insurance portfolio by 2050.

Investment-related measures 
Helvetia is also committed to gearing its investment portfolio in line with the goals of the Paris Agreement and is setting itself a net-zero target for indirect emissions by 2050. In this way, the insurance company is promoting a sustainable and in particular a low-carbon economy.

The Principles for Responsible Investment supported by the United Nations serve as a framework for Helvetia's sustainable action in the investment field. To implement them, the insurance company has established group-wide approaches, guidelines for responsible investment and clear governance. 

Opportunities in the field of renewable energies
In order to achieve the targets of the Paris Agreement together, it is important to make the transition to an energy economy in order to reduce CO₂ emissions and avoid them as far as possible. Philipp Gmür, Group CEO of Helvetia, emphasizes: "As an insurance company we take a long-term view and are committed to a sustainable future. At the same time we take the topic of energy security seriously and are therefore supporting the necessary transition to low-carbon energy with our climate strategy."

By expanding its insurance solutions for renewable energy production and the related infrastructure, Helvetia also sees possibilities for contributing to mitigating climate change and exploiting its own business opportunities. The insurance company has set up a team of specialists and is well positioned in this market: over 25% of business in the power portfolio of Helvetia already involves projects and infrastructure for production of renewable energy.  

A detailed overview of the already decided business policy measures derived from the climate strategy in the insurance and investment business can be found on Helvetia's website. Starting in 2024, comprehensive climate reporting will clearly show the progress that Helvetia has made with its climate strategy. Up-to-date information about the company's commitment to sustainability can be found on Helvetia's website.  

About Helvetia Group
Helvetia Group, with its headquarters in St. Gallen, has grown since 1858 to become a successful insurance group with over 12,000 employees and more than 7 million customers. It has been enabling its customers to seize opportunities and minimise risks for all that time Helvetia is there for them when it matters. Helvetia is the best partner and is present everywhere that protection needs arise, with insurance, pension and investment solutions from a single source as well as simple products and processes. The insurance group knows the business, from mobile phone insurance and insurance cover for the Gotthard Base Tunnel to the long-term investment of customer assets. Helvetia develops and opens up new business models with enthusiasm and drives forward its own business in a powerful and future-oriented manner. It acts with foresight and responsibility in everything it does: for the benefit of its shareholders, customers and employees as well as its partners, society and the environment.
Helvetia is the leading all-lines insurer in Switzerland. In the Europe segment comprising Germany, Italy, Austria and Spain, the company has firmly rooted market positions for generating above-average growth. In the Specialty Markets segment, Helvetia offers tailored special insurance and reinsurance cover worldwide. With a business volume of CHF 11.1 billion, Helvetia generated IFRS net income after tax of CHF 614.4 million in the 2022 financial year. The shares of Helvetia Holding AG are traded on SIX Swiss Exchange.

Cautionary note
This document was prepared by Helvetia Group and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Helvetia Group. The German version of this document is decisive and binding. Versions of the document in other languages are made available purely for information purposes. Although all reasonable effort has been made to ensure that the facts stated herein are correct and the opinions contained herein are fair and reasonable, where any information and statistics are quoted from any external source such information or statistics should not be interpreted as having been adopted or endorsed as accurate by Helvetia Group. Neither Helvetia Group nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this information. The facts and information contained in this document are as up to date as is reasonably possible but may be subject to revision in the future. Neither Helvetia Group nor any of its directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document.
This document may contain projections or other forward-looking statements related to Helvetia Group which by their very nature involve inherent risks and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes in general economic conditions, in particular in the markets in which we operate; (2) the performance of financial markets; (3) changes in interest rates; (4) changes in currency exchange rates; (5) changes in laws and regulations, including accounting policies or practices; (6) risks associated with implementing our business strategies; (7) the frequency, magnitude and general development of insured events; (8) mortality and morbidity rates; (9) policy renewal and lapse rates as well as (10), the realisation of economies of scale as well as synergies. We caution you that the foregoing list of important factors is not exhaustive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties. All forward-looking statements are based on information available to Helvetia Group on the date of its publication and Helvetia Group assumes no obligation to update such statements unless otherwise required by applicable law.