Tryg

Multi-line Insurance

TRYG.CO

DKK 156 (1)%

Share price

$ 15 bn

Market Cap

$ 16 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

1.9x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

FY2022

Tryg aims to reduce Scope 1 + 2 by 55% by 2030 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This target is most likely outdated and the company appears to have already achieved it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

GHG emissions and Carbon intensity

Tryg reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 1,100 t (-2,642 /-70.6% y-o-y). Also positively, carbon intensity plunged to 290 t (-792 /-73.2% y-o-y).

Tryg's Scope 3 emissions was down at 406 t (-139 /-25.5% y-o-y). The rate of decline has slowed compared to the trend since 4Q'18 (CAGR -37.8%).

The company is committed to reducing Scope 1 + 2 by 55% by 2030 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.

Tryg aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2023. 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.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	1,100	777	323	406	3,793	290
2020Q4	3,742	915	2,827	545	3,459	1,082
2019Q4	5,161	994	4,167	2,571	3,189	1,618
2018Q4	4,876	1,677	3,199	2,707	2,802	1,740