Marsh & McLennan Announces Carbon Reduction Commitments
Marsh & McLennan (NYSE: MMC) has announced its commitment to combat climate change by achieving carbon neutrality by 2021 and reducing carbon emissions by 15% below 2019 levels by 2025. CEO Dan Glaser emphasized the company's responsibility towards the environment. The new climate initiatives align with existing efforts within the company, including the launch of a renewable industry practice in insurance broking and support for clients managing climate risks. Further details will be provided in the upcoming 2020 ESG report scheduled for March.
- Commitment to carbon neutrality by 2021.
- Target to reduce carbon emissions by 15% by 2025.
- None.
Marsh & McLennan (NYSE: MMC), the world’s leading expert in risk, strategy and people, today announced two important commitments in the effort to combat climate change. First, the Company has pledged to be carbon neutral in 2021 through the reduction of greenhouse gas emissions in its own operations and the purchase of verifiable offsets. Second, the Company has committed to reduce its carbon emissions by
“At Marsh & McLennan, we recognize the opportunity, and indeed the obligation, that we have to be good stewards of the environment. We are committed to the principle of responsible capitalism. These climate initiatives represent a tangible step toward building a more sustainable environment for our colleagues, clients, shareholders and future generations,” said Dan Glaser, President and CEO, Marsh & McLennan.
These commitments also complement important climate work that is occurring across the company. In 2020, Marsh’s Global Power & Energy Group launched the first integrated global renewable industry practice in insurance broking. Marsh is also helping clients measure and manage the risks to their assets and operations from hurricanes, floods and other natural perils in a changing climate.
Oliver Wyman’s climate and sustainability experts work with clients across a range of sectors such as financial services, energy and transportation, to reimagine end-to-end supply chains, de-carbonize business models, and integrate new technologies to support the transition to a low carbon economy.
Mercer was recently ranked the No. 1 responsible investment consultant and has led the way in quantifying climate risks in investment portfolios for institutional clients. Mercer also provides climate analytics and advice for institutional investors who want to transition to a 1.5°C scenario of global warming as outlined in the Paris Agreement.
Guy Carpenter helps insurers quantify the impact of natural catastrophe risk and respond to new regulatory climate stress tests. As the frequency and severity of natural catastrophes increase, Guy Carpenter’s experts work with clients to anticipate and mitigate climate threats in particularly high-risk areas.
About Marsh & McLennan Companies
Marsh & McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 76,000 colleagues advise clients in over 130 countries. With annual revenue of
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