SUSTAINABILITY IN ACTION SCOR’s sustainable solutions are thoughtfully designed to contribute to fostering a more resilient and sustainable society. Our commitment to environmental sustainability is exemplified by the renewable energy consortium launched in 2024. Focused on offshore wind energy, this consortium brings together various market players to develop and implement large-scale renewable energy projects. With this consortium, SCOR is offering dedicated capacity for renewable energy, fostering increased competition, and providing improved certainty for clients and project stakeholders to accelerate the global energy transition to renewable energy sources. SCOR has also created several products dedicated to enhancing the resilience of vulnerable communities through parametric microinsurance programs and other solutions. A notable example is an initiative in Rwanda where SCOR provides microinsurance to tea cooperative farmers. Tea plays a major role in Rwanda’s economy, but with about three-quarters of the producers being small-scale farmers who own two hectares on average, these farmers are particularly vulnerable to severe weather events. Launched in 2024, this solution offers quick payouts in the event of adverse weather conditions, enabling farmers to recover swiftly without the need to prove damages. Our teams are dedicated to implementing initiatives whose success is not only defined by profitability but also genuinely aimed at creating positive change. To ensure this is the case, SCOR aims to ensure that sustainable solutions to align with the positive impact criteria of additionality, measurability, and intentionality: • Additionality means that the solutions go beyond business as usual, providing a positive impact that would not have occurred otherwise. • Measurability involves tracking and assessing the positive impacts of these solutions. • Intentionality ensures that the solutions are purposefully designed to achieve positive impacts. This approach underscores our commitment to ethical and transparent business practices, ensuring that our sustainable solutions are both effective and responsible. . CREATING SUSTAINABLE SOLUTIONS THAT DRIVE RESILIENCE SCOR is aligning business solutions with sustainability principles At SCOR, we believe that our role as a global reinsurer extends beyond providing financial protection. We are committed to creating innovative (re)insurance solutions that not only address the evolving needs of our clients but also contribute positively to protect and restore ecosystems and increase the wellbeing of our communities. In recent years, SCOR’s teams have undertaken numerous initiatives aimed at reversing ecosystem degradation and facilitating the transition to renewable energy. As we look ahead, SCOR remains committed to exploring new opportunities that align with our values and contribute to building resilience. Whether it’s through supporting biodiversity, enhancing renewable energy projects, or supporting vulnerable communities, we are dedicated to finding solutions that will have a positive impact on the world around us. 30 ACTIVITY REPORT 2024
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