Summary
This section provides an overview of the methodology that will be applied to the GHG assessment. It defines why the specific data is relevant, how it will be measured, and what categories or frameworks are used.
Why consider emissions from Insurance?
Insured-associated emissions represent the greenhouse gas emissions associated with insurance underwritings. They are a crucial component of a insurer's carbon footprint, often representing the largest source of emissions impact (> 90%).
Type of raw data
Advanced module
Commercial insurance
Insurance effective date: insurance contract start date
Re/Insurance premium: The re/insurance premium is the amount of money a customer pays to an insurance company for risk coverage, a price that factors in the insurer's own cost of transferring a portion of that risk to a reinsurer. Personal motor vehicle
Insurance effective date: insurance contract start date
Insurance total Premium: The re/insurance premium is the amount of money a customer pays to an insurance company for risk coverage, a price that factors in the insurer's own cost of transferring a portion of that risk to a reinsurer.
TCO associated with the vehicle: a vehicle's Total Cost of Ownership (TCO) encompasses all its lifetime expenses, serving as a key financial metric used to calculate the associated financed greenhouse gas emissions.
Location: country of use of the vehicle
Processing between methodologies
Advanced module
Data processing is exactly the same, whether the assessment’s referential is GHG Protocol or BEGES
Types of emission factors
Advanced module
Commercial lines- The EFs used to estimate insured company’s emissions - when GHG assessment result is not available - are from the Exiobase database (estimation of a company's GHG assessment result (Scope 1, 2 & 3) based on its country of operation and NACE code (kgCO₂/€ of revenue)).Personal motor vehicle
The EFs used to estimate insured vehicle emissions depend on the available data:
If actual fuel consumption is available or distance travelled + vehicle efficiency, the EF used will be a quantity EF by fuel type (diesel, gasoil, electricity or hybrid) (kgCO₂e/L or kWh).
if vehicle efficiency not available, we’ll use an average vehicle efficiency based on the vehicle type, the EF used will be (kgCO₂e/km).
Additional information
Advanced module