Marsh McLennan has made a commitment to achieve net-zero across its operations by 2050 and reduce its emissions by 50 percent by 2030. The company said it will also set an emission reduction target aligned with the Science Based Targets initiative’s criteria.
Marsh McLennan’s net-zero commitment is detailed in its new Environmental, Social and Governance (ESG) report, Accelerating Impact.
“We are proud to be part of the global movement to develop solutions needed to keep global temperature rise below 1.5°C and prepare for a warmer world,” said Dan Glaser, president and CEO, Marsh McLennan. “Just as we advise our clients on how to execute the profound transformations required, we are committing to chart our own path to net-zero at Marsh McLennan.”
The company said it made measurable strides across every aspect of ESG in 2021: earning certification as a CarbonNeutral company, establishing its Inclusion and Diversity Center of Excellence, and appointing its eighth director meeting the company’s diversity criteria to the board in the last 10 years.
Marsh McLennan also noted ESG achievement by each of its businesses:
- Marsh launched a new directors and officers (D&O) liability insurance initiative that recognizes U.S.-based clients with superior ESG frameworks.
- Guy Carpenter arranged four of the five FloodSmart Re catastrophe bonds for the Federal Emergency Management Agency (FEMA) to secure flood reinsurance coverage from the capital markets for the National Flood Insurance Program (NFIP). These bonds help FEMA pay for NFIP claims when disaster strikes.
- Mercer developed a range of research, advice and investment solutions called the “Leap Continuum,” which support the advancement of historically underrepresented groups in investments.
- Oliver Wyman helped clients pursue a commercially smart climate transition. It has worked with organizations including the Glasgow Financial Alliance for Net Zero (GFANZ), CDP, the World Economic Forum, United Nations Environment Programme Finance Initiative and S&P Global Market Intelligence, to set new agendas and build consensus on the issue of climate change.