Environment & Climate Change

At Chubb, we recognize our responsibility to provide solutions that support innovation by our clients, to reduce our own environmental impact and to make meaningful contributions to protect vital ecosystems and the people who depend on them.
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Corporate citizenship

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Chubb and climate change

Climate change is a reality and its effects can be seen by an increased frequency and severity of natural catastrophes. Climate change is contributing to higher sea surface temperatures, rising sea levels and increasing trend in extreme weather events, including floods, droughts, winter storms, heat waves, wildfires and hurricane intensity. Chubb’s business involves providing clients with insurance and reinsurance protection from the impact of natural catastrophes, including weather events that are more frequent or severe. We recognize that a changing climate affects everyone — customers, employees, shareholders, business partners and the communities we serve.
Strategy

Chubb is an underwriting company, and the company strives to emphasize quality of underwriting. The company’s underwriting strategy is to manage risk by employing consistent, disciplined pricing and risk selection. Chubb applies the same risk management rigor to its broadly diversified investment portfolio as it does to the company’s underwriting practice. In addition, Chubb accounts for the potential impact of catastrophe and climate risks on the company’s own facilities and operations. Direct risk to Chubb’s business operations exists to the extent that increasingly frequent or severe weather events associated with climate change occur where Chubb has offices.

Governance

At Chubb, assessing and managing risk starts at the top, with senior management. Risk management at Chubb is rigorous, with processes and governance to provide checks and balances. Chubb’s global enterprise risk management (ERM) framework — which encompasses climate risk — is embraced by colleagues at all levels of the company, from the Chief Executive Officer (CEO) and Board of Directors, down to each business unit and function. It is broadly multi–disciplinary and one of its objectives is effective governance.

Risk management

The potential impacts of climate change on the insurance industry are myriad and multivariate. These risks and opportunities fall broadly into three categories: physical risks and opportunities; transition risks and opportunities; and liability risks and opportunities

Corporate Sustainability Policies

At Chubb, we seek to implement corporate sustainability policies that deliver enduring operational efficiencies and positive environmental outcomes across our businesses.  As part of these efforts, we track and report our scope 1 and scope 2 greenhouse gas emissions on an annual basis in our Sustainability Report. 

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Graph showing in 2024, Chubb's renewable energy purchase accounted for the difference 51,607 tons of CO₂ equivalent difference between market based and location-based emissions.

Chubb purchases renewable energy via a combination of bundled and unbundled Renewable Energy Credits (RECs) wherever available and reasonably priced. In 2024, Chubb's renewable energy purchase accounted for the difference 51,607 tons of CO₂ equivalent difference between market based and location-based emissions.

 

Chubb's Scope and Scope 2 market based emissions declined from 2016 through 2024. This was achieved primarily through Chubb's Green Power Purchase Policy, which states that Chubb will purchase renewable energy wherever available and reasonably priced. Chubb's renewable energy purchases include PPAs, bundled RECs, and unbundled RECs. They do not include hydro power or nuclear power.

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Corporate Environmental Program goals

The Corporate Environmental Program has additional operational goals, including establishing a recycling program in each office and working toward 100% adoption, globally discontinuing use of disposable plastic water bottles, removing all disposable Styrofoam products, purchasing only sustainable copy paper, and reducing paper consumption year over year. A number of Chubb’s offices, including some of our largest locations, have met these goals. Others are making progress on the journey to achieve them.

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Environmental philanthropy

The environment is a priority in Chubb’s corporate philanthropy. Chubb supports communities around the world in which we live and work through established philanthropic entities and company-sponsored volunteer initiatives.

 

Grants from Chubb’s charitable foundations have helped preserve sensitive lands and habitats across the world, finance “green” business entrepreneurs, and support educational programs that promote a healthy and sustainable environment. 

 

In 2025, Chubb announced Blue Boundaries, an ambitious partnership between the Chubb Charitable Foundation and the National Geographic Society. Blue Boundaries is dedicated to advancing science, exploration, and conservation to protect some of the planet's most vital ecosystems. The program focuses on the health and preservation of ecosystems where and water converge — freshwater wetlands, coastal systems, and coral reefs, which are critical to the planet's health on local, regional, and global scales.

Corporate Climate Underwriting Criteria

Through Chubb’s underwriting process, we have opportunities to promote good risk management and the adoption of sound engineering practices by our clients. Our climate strategy seeks to deploy Chubb’s fundamental areas of expertise to address the high-emitting industries we insure. Our approach to these industries involves conducting our own review of best practices, seeking guidance from non-governmental organization (NGO) partners, and engaging with our clients to develop perspectives on GHG emissions mitigation measures that apply best engineering practices and relate to risk quality. As we develop underwriting criteria, we will simultaneously offer our on-the-ground engineering expertise, working on-site with our clients to help deploy best practices and controls to reduce GHG emissions.

 

We applied this approach to the development of our underwriting criteria for oil and gas, steel, and cement, and we are currently evaluating the potential evidence to support the development of criteria in other high-emitting industries.