Foreword

Swiss Life is committed to the goals of the Paris Climate Agreement and to the transition to a low-carbon and climate-resilient economy. Since the 2020 reporting year this has also involved publishing an independent climate report as a supplement to our sustainability reporting. This report is based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and summarises how we address climate change.

Swiss Life’s sustainability and climate strategy is part of the Group-wide strategic programme “Swiss Life 2024”. Our focus here is on those areas on which we can exert a direct influence and achieve a corresponding impact. In this context, we have also committed ourselves to clear goals: In our own operations, we will reduce CO₂ emissions per full-time employee (full-time equivalent, FTE) by 35% by 2024 compared to 2019. We are also aware of our responsibility as a major real estate owner and aim to reduce the carbon intensity of our directly held PAM real estate portfolios by a further 20% by 2030 compared to 2019. Both targets are based on 1.5° reduction paths and on achievement of the net zero target by 2050.

Part of the sustainability and climate strategy is the further integration of sustainability and climate aspects into the existing risk management framework. Swiss Life is convinced that the transition to a low-carbon and climate-resilient economy also offers opportunities. Swiss Life wants to integrate sustainability and climate factors into its product and service offering and anchor them in its insurance advice.

Swiss Life has made a good start with the implementation of its sustainability strategy. Swiss Life has been net zero in its operational activities since 2022: we have neutralised all measured, unavoidable CO₂ emissions in connection with our operational activities with certified climate projects in Switzerland, France and Germany. In its role as an asset owner and manager, Swiss Life has also driven forward its sustainability goals. The carbon intensity of Swiss Life’s directly held real estate portfolio is already well positioned by comparison with that of the average real estate portfolio in the countries in which Swiss Life operates. These measures underline our commitment to sustainable development.

Tancredi Tommasina

Group Chief Risk Officer

Florian Zingg

Head of Group Sustainability