Zurich Insurance Group’s ESG rating of ‘AA’ has been upgraded to ‘AAA’ – the highest possible score from the investment research firm, MSCI.
An MSCI ESG rating measures a company’s resilience to long-term environmental, social and governance risks, scoring companies on an industry-relative AAA to CCC scale. MSCI’s rating report described Zurich as a leader among global peers on climate risk mitigation initiatives as well as on corporate governance.
The report highlighted the climate risk mitigation initiatives launched by Zurich, including products for electric vehicles and renewable energy. For governance, the report noted that Zurich’s board had majority independence, in addition to an independent chair and 55% female representation.
As a signatory to UN Principles for Responsible Investment (PRI), Zurich integrated ESG factors into its investment activities. It is a founding member of the net-zero insurance alliance and the net-zero asset owner alliance, with a commitment to achieving net-zero carbon emissions in its underwriting and investment portfolios by 2050 and in operations by 2030.
MSCI noted strong human capital practices such as staff surveys and senior-level oversight of diversity and inclusion initiatives, even gaining recognition as an employer of choice by Forbes.
Zurich has also been named one of the world’s most sustainable insurers by the S&P global corporate sustainability assessment.