Climate action

Slowing down and minimising the consequences of climate change is one of the greatest challenges of our time. Tryg, works actively with its defined climate targets to ensure that we do our part in mitigating the impact of our business.

Tryg has defined targets for its scope 1, scope 2 and scope 3 emissions based on best practices and externally available guidance such as the GHG protocol, the Partnership for Carbon Accounting Financials (PCAF) and manuals from the Science Based Targets initiative.

Included in Tryg’s 2027 strategy, the specific climate-related targets are:

42% reduction in CO2e from scope 1 by 2030. This reduction will be driven by a transition away from natural gas and changes to the company car fleet.
100% purchase of renewable electricity in scope 2 by 2030. Driven by the conversion to more energy-efficient office buildings and the purchase of Guarantees of Origin
40% of our purchases must come from suppliers who have set their own Science Based Targets by 2029. Driven by supplier engagement.

As a large insurance company, we have many large organisations as customers. Many are in the process of reducing their CO2e emissions, while some haven't got that far yet. We want to motivate them to set their own ambitious climate goals and transform their business.

Specifically for customers involved in the extraction and production of fossil fuels, Tryg aims to take a more proactive role in pushing them towards a green transition with the target:

100% of premiums from commercial extractors and producers of fossil fuels covered by green transition plans by 2027.

Advancing reuse, repairs and preservation in the claims handling process

A large part of Tryg's CO2e emissions come from the approximately 2.2 million annual claims. It requires large amounts of materials such as wood, metal, plastic and glass when our customers need to rebuild their house, repair a van or get a new mobile phone.

That's why we've, in close collaboration with our claims suppliers, have been working for years to break away from the ‘use-and-throw-away’ culture and instead push for a claims handling process where repair and reuse are more widespread. We do this by preserving what can be preserved, repairing what can be repaired, and reusing what can be reused.

This new way of working requires a shift in mindset, which takes time and involves close collaboration, capacity building and knowledge sharing both internally across relevant teams, such as procurement, claims and the insurance assessors, as well as externally towards and between suppliers and partners.

Two targets for 2027 guide our efforts around material use in the claims handling process:

Reduce the consumption of new materials by 10% across all types of claims
Reduce CO2e emissions by 6% per average claim.

Investments

On Capital Markets Day in December 2024, Tryg announced an updated investment strategy with a focus on minimising investment risks. This means that Tryg's investment portfolio now primarily consists of Nordic bonds, especially mortgage bonds.

Read more about Tryg's third strategic focus area, Empowering people, here.