Sustainable development is an integral part of the Group’s values and mission. As a global reinsurer, SCOR's aim is to contribute to the welfare and resilience of Society, by helping to protect insureds against the risks they face. 

 

The Group strives for sustainability on every level. The Board of Directors’ dedicated CSR and sustainability committee had a busy year in 2018, starting with a review of the Group’s mission statement and of various sustainability reports. 

 

As part of SCOR’s sustainability action plan, which includes various initiatives on the three ESG pillars, the Board committee reviewed the implementation of our coal policy, and gender equality and diversity at SCOR. 

 

Our CSR action plan included an impact investment project designed to reforest agricultural lands in developing countries. We also reconducted our carbon offsetting program, via forest preservation and reforestation projects, in Zimbabwe and Peru. 

At the beginning of 2019, an additional CSR committee devoted to social and environmental issues was created by the Group’s Executive Committee. 

 

 

 

 

In addition to its own internal CSR action plan and initiatives, SCOR is a longstanding supporter of sustainability-led initiatives like the United Nations Global Compact, the Principles for Sustainable Insurance and – through its asset management company, SCOR Investment Partners – the Principles for Responsible Investment. 

 

In 2018, we continued our partnership with Climate-KIC, one of the largest public-private partnerships set up to combat climate change. This partnership enabled SCOR to launch a feasibility study on fire risk modeling in property insurance, and on how to reduce this risk in a broader risk context. Through its Foundation for Science, SCOR also conducts research into rising sea-levels and climate change, and the associated consequences in terms of adaptation. 

 

To help insurance and reinsurance operators to better understand the challenges involved in managing the impact of climate change, the Group regularly shares its expertise with the French financial marketplace and public policymakers. In 2018, for example, SCOR was involved in a number of working groups at the French Insurance Federation, la Fédération Française de l’Assurance, and was invited by the European Commission to help develop an action plan on sustainable finance. 

 

The Group is very proud of its sustainability achievements in 2018. In 2019, we look forward to strengthening our commitment to CSR and sustainability even further.