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Topdanmark joins the Science Based Targets initiative

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Topdanmark has joined the Science Based Targets initiative (SBTi), an international alliance supported by the UN, which helps companies ensure that their climate goals live up to the Paris Climate Agreement. The commitment means that Topdanmark will set ambitious science-based climate targets which are aligned with limiting global temperature rise to 1.5°C above pre-industrial levels.

As an insurance company, Topdanmark has seen how climate change and extreme weather events affects its customers. Topdanmark believes that it can contribute to reducing greenhouse gas (GHG) emissions in society and will focus its efforts on five areas in particular:

  • offering tailored and attractive products that motivate customers to opt for climate-friendly solutions
  • exploring GHG saving technologies and measures in claims handling
  • investing in loss prevention
  • setting ambitious climate targets for investments and underwriting, including exclusions of carbon intense sectors and engagement with customers and investee companies to promote the green transformation
  • optimising daily operations to reduce GHG emissions

Topdanmark must now define its new targets within two years and send them to SBTi for validation, as well as report on progress towards the goals.

More information on Topdanmark’s commitment (in Danish).