Information on climate-related financial risks for Swiss Life Ltd
Swiss Life Ltd comprises the insurance business in Switzerland and the branch office in Germany.
The governance, strategy and targets of Swiss Life Ltd with regard to climate change correspond to those at Group level. The risk management of Swiss Life Ltd corresponds to the risk management at Group level, also with regard to climate-related risks. As Swiss Life Ltd forms the core component of the Swiss Life Group, the risk profile of Swiss Life Ltd largely corresponds to the risk profile at Group level.
The quantitative information on climate-related financial risks with regard to the PAM securities portfolio of Swiss Life Ltd differs only marginally from the information at Group level. Please refer to explanations at Group level (section “Metrics and Targets”) for background information.
Weighted average carbon intensity of the Swiss Life Ltd’s PAM securities portfolio1 as at 31 December 2021
| Asset class | Unit | 2021 2 | ||
|---|---|---|---|---|
| Government bonds | t CO2e/USD million GDP nominal | 181 | ||
| Corporate bonds | t CO2e/USD million sales | 150 | ||
| Equities | t CO2e/USD million sales | 142 | ||
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1 In the context of the TCFD Report, government bonds only comprise bonds issued by nation states. Corporate bonds also include covered bonds as well as bonds issued by state-affiliated companies and supranationals. This deviation from other financial publications is due to the calculation logic underlying the carbon intensity.
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2 The weighted average carbon intensity values correspond to more than 90% of the amortised costs of the analysed PAM government bond portfolio, more than 90% of the amortised costs of the analysed PAM corporate bond portfolio and more than 90% of the market value of the analysed PAM equity portfolio of Swiss Life Ltd. © 2022 MSCI ESG Research LLC. Reproduced by permission. Data from MSCI ESG Research LLC is as at 31 December 2021.
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Swiss Life Ltd contributes to the reduction target for the carbon intensity of the directly held PAM real estate portfolio of the Swiss Life Group. The starting point for Swiss Life Ltd in 2019 was 25 kg CO₂ equivalents per square metre floor area.3 For information concerning the resources, measures and cockpit for monitoring target achievement, please refer to explanations at Group level (section “Metrics and Targets”).
3 Swiss Life Ltd’s starting point corresponds to 62% of the floor area of the PAM real estate portfolio directly owned by Swiss Life Ltd. The greenhouse gas emissions of office buildings used by the company are included in operational ecology and are excluded from the calculation of the starting point.