Physical Risks
Climate physical risks refer to the direct impacts of climate change, such as extreme weather events, sea-level rise and temperature fluctuations. These can damage infrastructure, disrupt supply chains and affect ecosystems.
Environmental Initiatives
WAICA Re’s environmental initiatives are aimed at promoting sustainability and mitigating climate-related risks. We invest in green bonds and other environmentally friendly assets, which support renewable energy projects and low-carbon technologies. Our products incentivise sustainable practices, such as offering lower premiums for energy-efficient buildings or for companies with strong environmental performance records.
The material ESG factors with respect to the environment are responsible investment, climate-related physical and transitional risks, carbon footprint and energy efficiency.
01
Responsible Investment
RI
Our investments are required to perform financially and sustainably. We therefore align our investments with the UN Principles for Responsible Investment and bear in mind the Paris Agreement’s goal of keeping the global average increase below 2°C compared to pre-industrial levels.
WAICA Re has investments across different geographies, economies and products. Responsibly managing these assets, both our own assets and those of our clients, is paramount to the organisation.
02
Climate-Related Risks
Transition Risks
Transition risks involve the economic and financial challenges associated with moving to a low-carbon economy, including policy changes, technological shifts and changing market dynamics that can affect asset values and profitability.
Both these risks are measured and managed for our own operations and investments. WAICA Re has set long-term science-based targets and intends to reach Net Zero GHG Emissions by 2050. We undertake research and modelling to better understand climate-change impacts, thereby enhancing risk assessment and management.
03
Carbon Footprint & Energy Efficiency
Our carbon footprint is one of the most critical ESG metrics in WAICA Re. By reducing carbon emissions, WAICA Re can help slow climate change and preserve the environment. Our focus is on reducing our carbon footprint through practical operational initiatives.
Digitalisation
Digitalising processes reduces the use of printing consumables.
Cloud Infrastructure
Cloud infrastructure reduces reliance on onsite data centres and purchased power consumption, helping decrease Scope 2 emissions.
Virtual Meetings
Online meetings reduce business travel and associated Scope 3 emissions.
Renewable Energy
Optimising renewable energy helps reduce Scope 1 and Scope 2 emissions.
To improve energy efficiency, we take appropriate steps including turning off company lights, replacing lights with energy-saving bulbs, and shutting down and unplugging equipment after business hours. We also encourage employees to use natural sunlight and well-ventilated open windows and doors instead of air conditioning. These activities reduce energy usage and can also improve employee wellbeing.