Generali Group

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          Greenhouse gas emissions

          Greenhouse gas emissions

          We measure and report the greenhouse gas (GHG) emissions generated by our direct operations to verify the effectiveness of the implemented reduction strategies  and to demonstrate our consistency with the efforts we require from our customers, the companies in which we invest and our suppliers.

          The monitoring of our emissions, part of our Environmental Management System (EMS), involves periodic checks subject to internal audits and to assurance by an independent third party (for more information you can read the Independent Auditors' Report on the Consolidated Non-Financial Statement in the Annual Integrated Report).

          We calculate our greenhouse gas emissions using the WRI GHG Protocol, applying both market-based and location-based methods.

          The first method, the market-based, determines GHG emissions from the purchase of electricity and heat by considering the specific emission factors reported by our suppliers. For the purchase of electricity from renewable energy sources, a zero emission factor is attributed for the scope 2.

           

          Instead, the location-based method involves accounting for emissions from the purchase of electricity, applying national average emission factors for the different countries in which we purchase electricity.

          In June 2021 the Group has approved a science-based target of reducing the scope 1 and scope 2 emissions generated by the Group offices, data centers and car fleet of at least 25% by 2025 compared to the levels measured in 2019 using the GHG Protocol market-based method.

          This reduction will be supported through the workplace innovation and the space optimization, by further improving the energy efficiency and leveraging on the purchase of renewable energy. The share of hybrid and electric vehicles in the company car fleet will also be increased.

          The Group will take action to voluntary offset any remaining emissions as from 2023, looking at the ambitious pledge to be climate negative by 2040, by reducing to zero its net carbon emissions through the financing of quantifiable, real, permanent and socially beneficial carbon removal projects.

          2025 TARGET

          By year end 2025 a science-based reduction of the greenhouse gas emissions related to offices, data centers, and company car fleet by at least 25% against the 2019 baseline (applied to Scope 1 + Scope 2).

          PERFORMANCE IN 2021

          33,964 t CO2e total GHG emissions Market-Based method
          (-21% compared to 2019)

          Breakdown of GHG emissions by Scope

            market-based location-based
          greenhouse gas emissions
          t CO2e

          2019
          (base year)

          2021

          2019
          (base year)

          2021

          Scope 1*- Direct emissions, produced by heating systems and using the fleet of company vehicles

          31,094

          24,466

          31,094

          24,466

          Scope 2- Indirect emissions from energy consumption, associated with the use of electricity and district heating

          11,904

          9,498

          54,329

          47,022

          Scope 3- Other indirect emissions from energy consumption (T&D losses), related to employees' business travel, paper and water consumption, and waste disposal

          45,308

          25,296

          45,308

          25,296

          Total

          88,306

          59,260

          130,731

          96,784

          Note: the GHG emissions were recalculated in line with the progressive enlargement of the EMS perimeter and represent the staff working at the following locations: Argentina, Austria, France, Germany, Hungary, Italy, Poland, Czech Republic, Slovak Republic, Serbia, Spain and Switzerland. This perimeter covers the 52.7% of our people, without considering the employees of Cattolica Group companies, and sees the entry of five new countries compared to 2020. The gases included in the calculation are CO2, CH4 and N2O for combustion processes and all gases reported in the IPCC AR4 for other emissions (long-lived greenhouse gases - LLGHGs).