QBE Insurance
Carbon footprint
Primary Climate Goal
QBE Insurance aims to achieve net zero for Scope 1 + 2 by 2030
Secondary Climate Goal
QBE Insurance aims to achieve net zero for all Scopes by 2050
GHG emissions and Carbon intensity
QBE Insurance reported gross GHG emissions (Scope 1 + 2 before carbon offsets) for the twelve months ending 31 December 2021 at 6.1 Kt (+0.18/+3.1% y-o-y).
QBE Insurance's Scope 3 emissions decreased to 9 Kt (
The company is committed to achieving net zero for Scope 1 + 2 by 2030, which translates into the estimated reduction of -0.67 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Also, the company commits to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -0.52 Kt per annum over the period of FY2022 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
QBE Insurance achieved carbon neutrality across its operations (Scope 1 + 2) in 2018. 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.