To understand our risks and opportunities and to monitor and report on our climate change impact, Argo Group completed a greenhouse gas (GHG) inventory using ISO 14064-1 and the Greenhouse Gas Protocol. The standard provided guidance on quantifying and reporting our GHG inventory. In designing and developing our GHG inventory, organizational and reporting boundaries were established.
By identifying the activities that were sources of GHG emission, it was determined that our Scope 2 indirect emissions from purchased electricity represent 95% and 97% for 2019 and 2020, respectively, of our Scope 1 and 2 emissions.
Scope 3 all other indirect emissions in our value chain, such as business travel, allowed us to examine new business goals by recognizing and understanding our carbon footprint.
COVID-19 has caused us to reinvent how we do business. As a result, the group executive has set public, tangible GHG emission reduction targets as part of our commitment to UN Sustainable Development Goal 13.
For 2021, we are committing to:
- 33% reduction in Scope 3, GHG emission rate
- 20% reduction in Scope 2, GHG emission rate
From our 2019 base year, these reduction targets are quoted as emission rates, measured in metric tons of carbon dioxide (CO2) per dollar of gross written premium (GWP).
Water Management and Sustainability
Despite water’s abundance, only a fraction of it is usable for our daily needs. Therefore, water management is crucial to sustainable development.
To better understand our impact and to improve our water usage, we employed ISO 14046 guidance to formulate an assessment technique that we can use consistently throughout our international offices. Compiling our Non-comprehensive Water Footprint Report gave insight into opportunities for improvements.
Argo Group GHG Inventory (PDF)
2021 Non-Comprehensive Water Footprint Report (PDF)