Marsh McLennan charts a path to net-zero operations by 2050, Issues second annual ESG report

Published on: 31 March 2022
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Marsh McLennan will set an emission reduction target aligned with the Science Based Targets initiative's criteria. In 2021, Marsh McLennan made measurable strides across every aspect of ESG. It achieved CarbonNeutral® certification and established its Inclusion and Diversity Center of Excellence. 

Marsh McLennan, the world's leading professional services firm in risk, strategy, and people, announced today its commitment to develop and implement low-carbon transition strategies that will lead to net-zero emissions across its operations by 2050 and a 50% reduction in emissions by 2030. The company will also set an emission reduction target that is consistent with the criteria of the Science Based Targets initiative.

The company's 2021 Environmental, Social, and Governance (ESG) report, Accelerating Impact, which was released today, details the commitment.

"We are proud to be a 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 Marsh McLennan President and CEO Dan Glaser.

"Just as we advise our clients on how to carry out the profound transformations required, we at Marsh McLennan are committing to charting our own path to net-zero."

Marsh McLennan made measurable progress in every aspect of ESG in 2021. It became a CarbonNeutral® company, established an Inclusion and Diversity Center of Excellence, and appointed its eighth director to the Board in the last ten years who met the company's diversity criteria.

"The idea that companies must benefit all of their stakeholders - shareholders, colleagues, clients, and the communities in which they operate - has long motivated Marsh McLennan's actions in what we now call ESG,"

said Katherine Brennan, chair of Marsh McLennan's ESG Management Committee.

"These stakeholders have come to expect transparency through ESG reporting, and it is our hope that they gain a better understanding of our impact through this report."

Marsh McLennan's four businesses also made significant contributions to inclusive and sustainable development, as well as societal resilience:

Marsh has launched a new directors and officers (D&O) liability insurance initiative that recognizes clients with superior ESG frameworks in the United States.

Guy Carpenter arranged four of the five FloodSmart Re catastrophe bonds for the Federal Emergency Management Agency (FEMA) of the United States to secure flood reinsurance coverage from the capital markets for its National Flood Insurance Program (NFIP). When a disaster strikes, these bonds assist FEMA in paying NFIP claims.

Mercer created the "Leap Continuum," a collection of research, advice, and investment solutions that support the advancement of historically underrepresented groups in investments. Mercer's outsourced chief investment officer (OCIO) practice also continued to provide clients with a variety of appealing opportunities to invest with a focus on sustainability.

Oliver Wyman assisted clients in pursuing a commercially sound climate transition. It has collaborated with organizations such as the Glasgow Financial Alliance for Net Zero (GFANZ), CDP, the World Economic Forum, the United Nations Environment Programme Finance Initiative, and S&P Global Market Intelligence to establish new agendas and build consensus on climate change issues.

Please visit marshmclennan.com to read Marsh McLennan's 2021 ESG report.

Source: Marsh McLennan

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