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Sustainability highlights 2023

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      Alongside the Sustainability Report which is part of the Annual Report of the Zurich Insurance Group (Zurich), we continue to share the testimonies and best practices behind the numbers in this sustainability highlights hub to showcase our achievements, progress and ambitions.

      Our sustainability framework consists of three focus areas – Planet, Customers and People.

      A big tree

      Planet

      We will focus on achieving net-zero outcomes. A low carbon economy will positively impact climate and society. Reducing emissions across our value chain lies at the heart of our efforts.

      two people looking over a construction site

      Customers

      To meet our customers’ changing needs, we are constantly growing our range of sustainable products and services. They are designed to support activities that generate a positive environmental or social impact and contribute to the mitigation of climate risks.

      people working together

      People

      We are actively supporting our people to remain employable for the long-term, while addressing customer and societal needs. Meanwhile, our community investment activities are mainly delivered through the Z Zurich Foundation*. Its purpose is to create a brighter future for vulnerable people.

      * The Z Zurich Foundation is a Swiss-based charitable foundation established by members of the Zurich Insurance Group. It is the main vehicle by which Zurich Insurance Group delivers on its global community investment strategy.

      “Only by understanding the long-term needs of our customers and adapting the products and services that we are offering, can we truly become a leader in sustainability.”

      Linda Freiner

      Chief Sustainability Officer

      Linda Freiner

      Sustainability performance highlights 2023

      1 Based on our internal definition.
      2 Compared to our 2019 baseline.
      3 Achieved through our impact investment portfolio of USD 7.9 billion.
      4 Compared to our 2019 baseline. Cover-More, Farmers Group, Inc. and its subsidiaries, joint ventures and third party vendors are out of scope.
      5 tNPS is a specific indicator that is calculated as part of the NPS program - with NPS being the global best practice standard for customer experience measurement.
      6 Senior management represents the combination of career levels D and E.

      7 As of 2023, we included Farmers Group, Inc. and Cover-More and have evolved the definition of this metric to include internal career opportunities generated for entry-level roles (career level A), international moves, re-hires, and changes in employment types from temporary to permanent. Entry-level roles (career level A) remain excluded from ‘external hires’ as these positions are, by nature, filled by external career starters.
      8 The Z Zurich Foundation is a Swiss-based charitable foundation established by members of the Group. It is the main vehicle by which we deliver on our global community investment strategy.
      9 CDP recognizes us among the top 8 percent of companies for supplier engagement on climate change. CDP is a not-for-profit charity that runs the global disclosure system for individuals and organizations to manage their environmental impacts.
      10 Customer retention rate for Retail & CLP business, premium retention rate for CI business.



      infograph about planet
      infograph about customers
      Infograph about people

      2023
      • CO2 pictogram

        In 2023, our impact investing portfolio of USD 7.9 billion helped avoid a total of 4.5 million metric tons of CO2e emissions and benefited 4.6 million people.

        Find out more

        01
      • We strive to lead by example, and this drives our efforts to reduce operational emissions at Zurich. In 2023 Zurich’s operational emissions* are estimated to have reduced by 66 percent compared to a 2019 baseline.

        Find out more

        * Cover-More, Farmers Group, Inc. and its subsidiaries, joint ventures and third-party vendors are out of scope.

        02
      • In 2023, our employees dedicated over 1.1 million hours to online learning. This translates to an average of 20.2 hours per employee*.

        * Reporting on learning hours excludes Farmers Group, Inc. and Cover-More.

        03
      • We continued to listen to and respond to feedback from our people. In our 2023 Zurich Experience Survey, our Group scored above both high performing companies and our finance and insurance benchmarks on most topics, such as our employees’ level of engagement (+2% and +4% respectively) or their willingness to recommend Zurich as a great place to work (+5% and +8% respectively).

        04
      • At the beginning of 2023, CDP recognized Zurich's efforts with "Supplier Engagement Leader status". This puts Zurich among the top 8 percent of companies for supplier engagement on climate change.

        05
      • Since its establishment 50 years ago, the Z Zurich Foundation has evolved from a local charity into a globally recognized organization. In 2023, Zurich employees' community support reached unprecedented levels, demonstrated by a substantial increase in both volunteering hours and matched financial contributions to causes that are important to them.

        Z Zurich Foundation

        06
      • Throughout 2023, the Zurich Flood Resilience Alliance country programs celebrated their 10-year anniversary. In 2023, the Alliance also published a global report and policy brief on resilient recovery From risk to resilience: Enabling, elevating, and financing resilient recovery and the latest Post Event Review Capability (PERC) Medley Report. PERC is the methodology developed by the Alliance to analyze disaster events.

        07
      highlights 2023