Marsh & McLennan Announces Carbon Reduction Commitments
Jan 14, 2021
NEW YORK, January 14, 2021 — Marsh & McLennan (NYSE: MMC), the world’s leading expert in risk, strategy and people, today announced two important commitments in the effort to combat climate change. First, the Company has pledged to be carbon neutral in 2021 through the reduction of greenhouse gas emissions in its own operations and the purchase of verifiable offsets. Second, the Company has committed to reduce its carbon emissions by 15% below 2019 levels by the year 2025. The specifics of these commitments will be set out in greater detail in the company’s upcoming 2020 ESG report in March.
“At Marsh & McLennan, we recognize the opportunity, and indeed the obligation, that we have to be good stewards of the environment. We are committed to the principle of responsible capitalism. These climate initiatives represent a tangible step toward building a more sustainable environment for our colleagues, clients, shareholders and future generations,” said Dan Glaser, President and CEO, Marsh & McLennan.
These commitments also complement important climate work that is occurring across the company. In 2020, Marsh’s Global Power & Energy Group launched the first integrated global renewable industry practice in insurance broking. Marsh is also helping clients measure and manage the risks to their assets and operations from hurricanes, floods and other natural perils in a changing climate.
Oliver Wyman’s climate and sustainability experts work with clients across a range of sectors such as financial services, energy and transportation, to reimagine end-to-end supply chains, de-carbonize business models, and integrate new technologies to support the transition to a low carbon economy.
Mercer was recently ranked the No. 1 responsible investment consultant and has led the way in quantifying climate risks in investment portfolios for institutional clients. Mercer also provides climate analytics and advice for institutional investors who want to transition to a 1.5°C scenario of global warming as outlined in the Paris Agreement.
Guy Carpenter helps insurers quantify the impact of natural catastrophe risk and respond to new regulatory climate stress tests. As the frequency and severity of natural catastrophes increase, Guy Carpenter’s experts work with clients to anticipate and mitigate climate threats in particularly high-risk areas.
About Marsh & McLennan Companies
Marsh & McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 76,000 colleagues advise clients in over 130 countries. With annual revenue of $17 billion, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh advises individual and commercial clients of all sizes on insurance broking and innovative risk management solutions. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and solutions to help organizations reshape work, retirement, investment and health outcomes for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit mmc.com, follow us on LinkedIn and Twitter or subscribe to BRINK.
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