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Environmental

Gen Re is a global organization committed to socially and environmentally responsible business practices and continues to pursue sustainable growth and reduction in its carbon footprint.
Environmental
Risk Assessment Loss Mitigation Operational Footprint Move to Cloud BRK Sustainability

Risk Assessment

As part of our risk assessment process, we have begun to evaluate the potential impact of environmental, social, and governance (ESG) factors on our specific risks and our overall risk profile.

We have started to develop scenarios and implement processes to better understand our exposures to these risks and the potential financial impact.

 

Risk Assessment

Loss Mitigation

Top-Tier Science Translated into Action

Gen Re is a long-standing member of the Insurance Institute for Business & Home Safety (IBHS).

IBHS is an independent, nonprofit scientific research and communications organization supported by the U.S. re/insurance industry and affiliated companies. IBHS’s building safety research leads to real-world solutions for home and business owners, helping to create more resilient communities.

In the face of increasingly severe weather events, IBHS embodies the philosophy of active risk management and loss mitigation through the practical application of top-tier science.

Read more about the IBHS

Operational Footprint

Operational actions relating to sustainability include:

  • Analyzing the potential for electricity and natural gas usage savings in both new and existing office space
  • Implementing technology, equipment, and processes to reduce electricity and natural gas usage
  • Supporting recycling and waste avoidance initiatives in all office locations; for example, the use of reusable cups to reduce single use products
  • Encouraging electronic communication to reduce paper usage
  • Prioritizing online meetings over physical travel, especially for internal meetings
  • Encouraging our workforce to choose transport by trains and other means of public transport over travelling by individual cars and airplanes
  • Considering the benefits of increased work location flexibility, this includes assessing the carbon footprint impact

Move to the Cloud

By moving the majority of its IT infrastructure to the Cloud, Gen Re saves over 85 MTCO2e* emissions annually. That is a significant reduction of almost 90% as compared to the emissions formerly produced by the traditional on-premise solutions that we replaced.

Moving compute and data storage into the Cloud reduces carbon emissions and saves energy by utilizing shared resources, improving resource utilization, and reducing electronic waste.

Cloud providers invest in energy-efficient data centers and increasingly use renewable energy sources to power them, resulting in a lower carbon footprint compared to traditional on-premise solutions.

Data based on Emission Savings Estimator for Microsoft Cloud Calculation. 

*MTCO2e: Metric tons of carbon dioxide equivalent (CO2 and other greenhouse gasses).

Berkshire Hathaway Sustainability Leadership Council

The Berkshire Hathaway Sustainability Leadership Council (SLC) is an autonomous group of representatives from Berkshire Hathaway companies committed to championing the sustainability efforts of their organizations and serving as a resource to other Berkshire Hathaway subsidiaries as they create and execute their respective sustainability strategies.

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Purpose of the SLC

  • Share sustainability strategies
  • Advance best practices on sustainability and ESG-related areas
  • Provide subject matter expertise
  • Support development of resource library
  • Identify and communicate emerging sustainability issues
  • Plan sustainability-related events, including annual sustainability summit for Berkshire companies
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Responsibilities of the SLC Members

  • Council members actively participate in monthly calls and one in-person meeting
  • Contribute resources and time required to achieve the objectives of the Council
  • Champion efforts and achievements of subsidiary companies
  • Encourage engagement from all Berkshire subsidiaries on sustainable practices
  • Chair maintains interface with Berkshire Hathaway 
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Outcomes

  • 14 companies represented on the SLC
  • Some companies have committed to Science Based Targets initiatives, net zero greenhouse gas emissions, set internal emission reduction targets, advanced sustainable fuels, reduced water usage and enhanced efficiency, reducing impacts and risks, and identifying opportunities