Marsh McLennan has announced its commitment to set and execute low-carbon transition strategies that chart a path to net zero across its operations by 2050 and reduce its emissions by 50% by 2030. The company will also set an emission reduction target aligned with the Science Based Targets initiative’s criteria.
The commitment is detailed in the company’s 2021 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.”
In 2021, Marsh McLennan made measurable strides across every aspect of ESG. It became certified as a CarbonNeutral® company, established its Inclusion and Diversity Center of Excellence, and appointed its eighth director meeting the company’s diversity criteria to the board in the last ten years.
“The idea that companies must benefit all of their stakeholders – shareholders, colleagues, clients and the communities in which they operate – has long spurred Marsh McLennan’s actions in the areas we now refer to as ESG,” said Katherine Brennan, head of Marsh McLennan’s ESG management committee. “These stakeholders have come to expect transparency through ESG reporting, and it is our hope that through this report they gain a greater understanding of our impact.”
Marsh McLennan’s four businesses also made significant contributions to sustainable and inclusive development and societal resilience:
- Marsh launched a new directors and officers (D&O) liability insurance initiative that recognises US-based clients with superior ESG frameworks.
- Guy Carpenter has arranged four of the five FloodSmart Re catastrophe bonds for the US Federal Emergency Management Agency (FEMA) to secure flood reinsurance coverage from the capital markets for its 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. Additionally, Mercer’s outsourced chief investment officer (OCIO) practice continued to offer clients a range of attractive opportunities to invest with sustainability in mind.
- Oliver Wyman helped clients pursue a commercially smart climate transition. It has worked with organisations 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.