Our Climate Strategy

Severe weather events over the last two decades have underscored the unpredictability of future climate trends, and changing climate conditions could impact the frequency and severity of natural disasters. We understand that climate risks require a different kind of focus, a different kind of response and a different kind of resilience. Through our thoughtful approach to changing climate conditions, we want to prepare a better world for our children and future generations, while ensuring that our business is positioned for future success.

 

Mitigating Exposure to Climate Risks

As a core part of our business, we continually monitor, assess and respond to the risks posed by changing climate conditions to provide products and services that both help our customers mitigate associated risks and are priced to meet our long-term financial objectives. To manage our exposure and response to catastrophe events, we use various methods, including proprietary and third-party modeling processes and geospatial analysis, to evaluate our climate-related risks and make underwriting, pricing and reinsurance decisions. We also regularly consider new insurance products and services that could be useful to our customers for addressing climate-related risks.

 

Supporting the Transition to a Lower-Carbon Economy

To facilitate innovation and the growth of renewable energy businesses and support the transition over time to a lower-carbon economy, we have a dedicated Global Renewable Energy Practice. This practice group provides insurance solutions for the life span of a renewable energy business – from research, development and manufacturing to permanent operations, as well as onshore and offshore wind, solar and biopower operations. From 2019 to 2020, our Global Renewable Energy Practice grew its gross written premiums by 39%. We also offer specialized coverage, as well as discounts where permissible, to incentivize environmentally responsible behavior, such as a suite of green building coverages, discounts for hybrid and electric boats and vehicles, a green home discount for homes that are LEED certified and a windstorm mitigation discount on hurricane premiums for homes built to the Insurance Institute for Business & Home Safety (IBHS) FORTIFIED GoldTM standard.

 

Building Resilient Communities

Beyond the work we do with our customers, we are helping our communities become more resilient. We partner with nonprofits and other organizations around the country, such as IBHS, the BuildStrong Coalition, Habitat for Humanity® and SBP, and we are a sponsor of the Wharton Risk Center. Working with these organizations, we offer strategic guidance and help develop initiatives aimed at promoting stronger industry standards and building communities that can better withstand current and future weather-related risks.

our operations

40%

50%

21%

100%

Reduction in greenhouse gas emissions over the past decade, meeting our emissions reduction goal.

Electricity that comes from renewable energy sources at our owned facilities.

Approximate reduction in energy consumption at largest-owned campus since 2006.

Owned campuses that are ENERGY STAR® certified.

Enhancing the Eco-Efficiency of Our Operations

We are also continuously finding cost-effective ways to minimize our impact on the environment, which can also reduce our operating expenses, without compromising on our promise to customers and employees. We have been working hard to reduce our already small carbon footprint. We have reduced our greenhouse gas emissions by 40% over the past decade, meeting our emissions reduction goal. Additionally, all our owned facilities are ENERGY STAR® certified, which means that we are in the top quartile in terms of energy performance standards, and 21% of the electricity used in those facilities comes from renewable energy sources. We also have a partnership with American Forests, the nation’s oldest conservation organization. As of Earth Day 2020, we had funded the planting of 1 million trees across the United States – one tree for each Personal Insurance billing account converted to paperless billing. Although this is a great achievement, we decided that there was more work to do. Last summer, we committed to fund the planting of an additional 500,000 trees and joined the U.S. chapter of 1t.org to help conserve, restore and grow 1 trillion trees by 2030. Our work with American Forests benefits the environment while saving our company millions of dollars in printing and mailing costs.

We are proud to be the leader among domestic property and casualty insurance companies in issuing an annual report discussing our approach to managing changing climate conditions, consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Visit sustainability.travelers.com to read our TCFD Report and learn more about our multifaceted climate strategy.

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Severe weather events over the last two decades have underscored the unpredictability of future climate trends, and changing climate conditions could impact the frequency and severity of natural disasters. We understand that climate risks require a different kind of focus, a different kind of response and a different kind of resilience. Through our thoughtful approach to changing climate conditions, we want to prepare a better world for our children and future generations, while ensuring that our business is positioned for future success.

 

Mitigating Exposure to Climate Risks

As a core part of our business, we continually monitor, assess and respond to the risks posed by changing climate conditions to provide products and services that both help our customers mitigate associated risks and are priced to meet our long-term financial objectives. To manage our exposure and response to catastrophe events, we use various methods, including proprietary and third-party modeling processes and geospatial analysis, to evaluate our climate-related risks and make underwriting, pricing and reinsurance decisions. We also regularly consider new insurance products and services that could be useful to our customers for addressing climate-related risks.

 

Supporting the Transition to a Lower-Carbon Economy

To facilitate innovation and the growth of renewable energy businesses and support the transition over time to a lower-carbon economy, we have a dedicated Global Renewable Energy Practice. This practice group provides insurance solutions for the life span of a renewable energy business – from research, development and manufacturing to permanent operations, as well as onshore and offshore wind, solar and biopower operations. From 2019 to 2020, our Global Renewable Energy Practice grew its gross written premiums by 39%. We also offer specialized coverage, as well as discounts where permissible, to incentivize environmentally responsible behavior, such as a suite of green building coverages, discounts for hybrid and electric boats and vehicles, a green home discount for homes that are LEED certified and a windstorm mitigation discount on hurricane premiums for homes built to the Insurance Institute for Business & Home Safety (IBHS) FORTIFIED GoldTM standard.

 

Building Resilient Communities

Beyond the work we do with our customers, we are helping our communities become more resilient. We partner with nonprofits and other organizations around the country, such as IBHS, the BuildStrong Coalition, Habitat for Humanity® and SBP, and we are a sponsor of the Wharton Risk Center. Working with these organizations, we offer strategic guidance and help develop initiatives aimed at promoting stronger industry standards and building communities that can better withstand current and future weather-related risks.

We are proud to be the leader among domestic property and casualty insurance companies in issuing an annual report discussing our approach to managing changing climate conditions, consistent with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Visit sustainability.travelers.com to read our TCFD Report and learn more about our multifaceted climate strategy.

To facilitate innovation and the growth of renewable energy businesses and support the transition over time to a lower-carbon economy, we have a dedicated Global Renewable Energy Practice. This practice group provides insurance solutions for the life span of a renewable energy business – from research, development and manufacturing to permanent operations, as well as onshore and offshore wind, solar and biopower operations. From 2019 to 2020, our Global Renewable Energy Practice grew its gross written premiums by 39%. We also offer specialized coverage, as well as discounts where permissible, to incentivize environmentally responsible behavior, such as a suite of green building coverages, discounts for hybrid and electric boats and vehicles, a green home discount for homes that are LEED certified and a windstorm mitigation discount on hurricane premiums for homes built to the Insurance Institute for Business & Home Safety (IBHS) FORTIFIED Gold standard.

To facilitate innovation and the growth of renewable energy businesses and support the transition over time to a lower-carbon economy, we have a dedicated Global Renewable Energy Practice. This practice group provides insurance solutions for the life span of a renewable energy business – from research, development and manufacturing to permanent operations, as well as onshore and offshore wind, solar and biopower operations. From 2019 to 2020, our Global Renewable Energy Practice grew its gross written premiums by 39%. We also offer specialized coverage, as well as discounts where permissible, to incentivize environmentally responsible behavior, such as a suite of green building coverages, discounts for hybrid and electric boats and vehicles, a green home discount for homes that are LEED certified and a windstorm mitigation discount on hurricane premiums for homes built to the Insurance Institute for Business & Home Safety (IBHS) FORTIFIED GoldTM standard.

Beyond the work we do with our customers, we are helping our communities become more resilient. We partner with nonprofits and other organizations around the country, such as IBHS, the BuildStrong Coalition, Habitat for Humanity® and SBP, and we are a sponsor of the Wharton Risk Center. Working with these organizations, we offer strategic guidance and help develop initiatives aimed at promoting stronger industry standards and building communities that can better withstand current and future weather-related risks.