Carbon Disclosure Project

Transcription

1 Carbon Disclosure Project CDP 2013 Investor CDP 2013 Information Request Topdanmark Module: Introduction Page: Introduction 0.1 Introduction Please give a general description and introduction to your organization Topdanmark A/S is a nation-wide insurance and pension fund business company insuring both personal, SME and agricultural customers. We carry out business operations solely in Denmark, and our head office is situated in Ballerup. Topdanmark is a public limited company listed on the stock exchange. Topdanmark's objectives are to: carry out nation-wide, Danish non-life, life and pension fund business be attractive to customers by being an independent and pre-eminent insurance group ensure that our shareholders achieve a long-term, competitive and stable return Half of all Danish farms, about every fourth person in Denmark and every sixth business is insured with Topdanmark, making it the second largest non-life insurance and sixth largest pension fund company in Denmark. Our non-life market share is around 18% and the pension fund share is around 3%. Annually we handle around 300,000 claims and receive around 2,3 million telephone calls from our customers. The total number of Topdanmark employees is around 2,500, of which about 1,400 work at the head office in Ballerup, while around 500 work at 18 major offices and sales centres all over Denmark. Furthermore we have around 600 field employees including certified insurance sales people and loss adjusters. Read more about the Topdanmark Group. ( 0.2

2 Reporting Year Please state the start and end date of the year for which you are reporting data. The current reporting year is the latest/most recent 12-month period for which data is reported. Enter the dates of this year first. We request data for more than one reporting period for some emission accounting questions. Please provide data for the three years prior to the current reporting year if you have not provided this information before, or if this is the first time you have answered a CDP information request. (This does not apply if you have been offered and selected the option of answering the shorter questionnaire). If you are going to provide additional years of data, please give the dates of those reporting periods here. Work backwards from the most recent reporting year. Please enter dates in following format: day(dd)/month(mm)/year(yyyy) (i.e. 31/01/2001). Enter Periods that will be disclosed Sun 01 Jan Mon 31 Dec Country list configuration Please select the countries for which you will be supplying data. This selection will be carried forward to assist you in completing your response Select country Denmark 0.4 Currency selection Please select the currency in which you would like to submit your response. All financial information contained in the response should be in this currency. DKK 0.6

3 Modules As part of the request for information on behalf of investors, electric utilities, companies with electric utility activities or assets, companies in the automobile or auto component manufacture sectors, companies in the oil and gas industry and companies in the information technology and telecommunications sectors should complete supplementary questions in addition to the main questionnaire. If you are in these sectors (according to the Global Industry Classification Standard (GICS)), the corresponding sector modules will not appear below but will automatically appear in the navigation bar when you save this page. If you want to query your classification, please If you have not been presented with a sector module that you consider would be appropriate for your company to answer, please select the module below. If you wish to view the questions first, please see Module: Management [Investor] Page: 1. Governance 1.1 Where is the highest level of direct responsibility for climate change within your company? Individual/Sub-set of the Board or other committee appointed by the Board 1.1a Please identify the position of the individual or name of the committee with this responsibility CSR Steering Comitee consisting of seven executives with direct reference to the Board of Directors. 1.2 Do you provide incentives for the management of climate change issues, including the attainment of targets? Yes 1.2a

4 Please complete the table Who is entitled to benefit from these incentives? The type of incentives Incentivized performance indicator Management group Monetary reward Topdanmark has established a company car policy giving employees an incentive to choose smaller and environmentally sound cars. Page: 2. Strategy 2.1 Please select the option that best describes your risk management procedures with regard to climate change risks and opportunities Integrated into multi-disciplinary company wide risk management processes 2.1a Please provide further details Risk management Risk management is an integral part of Topdanmark's core business. Topdanmark's risk managemen policy is to hedge against risks arising from the Company's activities or to limit such risks to a level that allows the Company to maintain normal operations and implement its planned measures even in the case of highly unfavourable events in the outside world. As a consequence of this policy the Company has for a number of years identified and reduced or eliminated those risks which could potentially cause losses exceeding what Topdanmark considers to be acceptable. For example, major strategic shareholdings have been sold, the catastrophe cover for storm or terror has been increased significantly and the financial risk reduced. The elements of the overall risk profile are brought together in the central risk management function which is responsible for ensuring that the data for and processes of risk calculations and profiling are of a high quality. The risk management function reports to the Risk Committee which is responsible for the SCR (solvency capital requirements) calculation, internal model, use test, risk limits, risk policies, standard calculation and ORSA (own risk and solvency assessment). The members of the Risk Committee are the CFO of the Group, a representative from the board of management of the life insurance company and the heads of the

5 primary risk areas: Asset Management, Statistical Services, Life Actuarial Services, Group Finance, Life Finance and Reinsurance. The Risk Committee reports, recommends and proposes to the Board of Directors via the Board of Management. Risk Management and weather related claims Topdanmark follows closely and constantly the trend in weather-related claims to adopt and enhance our risk analysis and risk management. As example, in 2012 we are developing a kind of geographical map used to forecast where rainstorms and storms are expected to happen. If significant and constant changes in weather are detected Topdanmark will be well prepared to handle such situation in term of risk management due to our constant monitoring of weather related claims as well as weather changes in general. 2.2 Is climate change integrated into your business strategy? Yes 2.2a Please describe the process and outcomes As described in 2.1a assessing and managing risk - including weather related risks - is essential to Topdanmark's business and our strategy. Furthermore, a part of the insurance premium is - ad has been for many years - allocated to perform research in weather-related damages and claims to obtain new knowledge about how to prevent and manage these types of scenarios. Since 2009 Topdanmark has had en environmetal policy and reduction target regarding CO2-emissions. In 2011 several initiatives has been initated to reduce the CO2-emission further.

6 2.2b Please explain why not 2.3 Do you engage in activities that could either directly or indirectly influence policy on climate change through any of the following? (tick all that apply) Trade associations 2.3a On what issues have you been engaging directly? Focus of legislation Corporate Position Details of engagement Proposed solution 2.3b Are you on the Board of any trade associations or provide funding beyond membership? Yes 2.3c Please enter the details of those trade associations that are likely to take a position on climate change legislation

7 Trade association Is your position on climate change consistent with theirs? Please explain the trade association's position How have you, or are you attempting to influence the postion? Forsikring & Pension (Danish Insurance Association) Consistent The association will continue to put the climate on the agenda including the political agenda and supports actively in many ways the society to adapt to new wheater situation caused by climate changes, eg.: focusing on initiatives preventing weather-related damage. Among other projects a climate group under the association has been established to support municipalities preparing a plan for climate adaptation which includes a plan for how to handle large floods caused by rainstorms. This requires, for example, an investigation and analysis of where in the municipalities rainstorms may potentially cause most damage. The insurance companies, including Topdanmank, attending the climate group, provides anonymised data on rainstorm damage. 2.3d Do you publically disclose a list of all the research organizations that you fund? 2.3e Do you fund any research organizations to produce public work on climate change? 2.3f Please describe the work and how it aligns with your own strategy on climate change 2.3g Please provide details of the other engagement activities that you undertake

8 2.3h What processes do you have in place to ensure that all of your direct and indirect activities that influence policy are consistent with your overall climate change strategy? Climate related activities are either coordinated by CSR-magager or CSR-manager is informed about activities to ensure consistent with overall environmental strategy. Topdanmark is active in Danish Insurance Association (Forsikring & Pension) to raise the industry awareness concerning climate related issues and damages to initiate an increased dialogue with decisions makers. Example: In 2012 we actively participated in a group under Forsikring & Pension focusing on finding a solution regarding owners of houses without insurance due to high risk of weather related damages. 2.3i Please explain why you do not engage with policy makers Page: 3. Targets and Initiatives 3.1 Did you have an emissions reduction target that was active (ongoing or reached completion) in the reporting year? Intensity target 3.1a Please provide details of your absolute target

9 ID Scope % of emissions in scope % reduction from base year Base year Base year emissions (metric tonnes CO2e) Target year Comment 3.1b Please provide details of your intensity target ID Scope % of emissions in scope % reduction from base year Metric Base year Normalized base year emissions Target year Comment Scope % 3.1% metric tonnes CO2e per FTE employee New target was set in 2011: Taget is 10% reduction in 2014 compared to 2011 base line. This includes also some scope 3 emissions. 3.1c Please also indicate what change in absolute emissions this intensity target reflects ID Direction of change anticipated in absolute Scope 1+2 emissions at target completion? % change anticipated in absolute Scope 1+2 emissions Direction of change anticipated in absolute Scope 3 emissions at target completion? % change anticipated in absolute Scope 3 emissions Comment Decrease 5 Decrease 2 3.1d Please provide details on your progress against this target made in the reporting year

10 ID % complete (time) % complete (emissions) Comment 33% 30% 3.1e Please explain (i) why not; and (ii) forecast how your emissions will change over the next five years 3.2 Does the use of your goods and/or services directly enable GHG emissions to be avoided by a third party? No 3.2a Please provide details (see guidance) 3.3 Did you have emissions reduction initiatives that were active within the reporting year (this can include those in the planning and implementation phases) Yes 3.3a

11 Please identify the total number of projects at each stage of development, and for those in the implementation stages, the estimated CO2e savings Stage of development Number of projects Total estimated annual CO2e savings in metric tonnes CO2e (only for rows marked *) Under investigation 2 To be implemented* Implementation commenced* 2 Implemented* 4 Not to be implemented 3.3b For those initiatives implemented in the reporting year, please provide details in the table below Activity type Description of activity Estimated annual CO2e savings (metric tonnes CO2e) Annual monetary savings (unit currency - as specified in Q0.4) Investment required (unit currency - as specified in Q0.4) Payback period Low carbon energy purchase Low carbon energy installation Low carbon energy purchase Other In 2012 we have established the largest solar cell system in the Nordic countries at our head office consisting of 3,042 solar panels which take up more than 5,000 square metres of space. We expect that the system will reduce our ordinary power consumption at the head office by 15%. In 2012, we have finished the refurbishment project called "Light and air", which included environment-friendlier ventilation and lighting. IT energy optimisation. We have implemented projects of energy optimisation of IT functions: change of central drives, change to energyefficient clients and workstation solutions. Energy optimisation. At the end of the year the implementation of an energy management system was finished to engage in energy optimasation years

12 3.3c What methods do you use to drive investment in emissions reduction activities? Method Comment Financial optimization calculations Compliance with regulatory requirements/standards Topdanmark s emissions are caused by the daily operation of the company. Therefore, Topdanmark has made financial calculations on how to make their buildings and processes more energy efficient and thereby reduce the emissions. Topdanmark has signed up to Un Global Compact which implies that we constantly engage in and implement emission reduction activities. 3.3d If you do not have any emissions reduction initiatives, please explain why not Further Information Topdanmark endeavours to reduce its environmental footprint and contribute to sustainable development in the future through our products and services. We work actively to minimise both the environmental impact of our business operations and the indirect impact due to procurements. We think green in our business operations Topdanmark's environmental strategy for internal operations includes goals for: Reduction of carbon emission. Our goal is a reduction of 10% (per employees) from 2011 to 2014 Reduction of paper consumption. Our goal is continued reduction in paper consumption Waste sorting. Our goal is that 60% of the office waste is recycled The environmental strategy does not include goals for water consumption as the consumption of the business is low and not expected to reduce further.

13 Page: 4. Communication 4.1 Have you published information about your company s response to climate change and GHG emissions performance for this reporting year in places other than in your CDP response? If so, please attach the publication(s) Publication Page/Section reference Attach the document In other regulatory filings (complete) 6,7,12,16,17,46 Further Information Information on initiatives is also uploaded to Topdanmarks webpage : Module: Risks and Opportunities [Investor] Page: 5. Climate Change Risks 5.1 Have you identified any climate change risks (current or future) that have the potential to generate a substantive change in your business operations, revenue or expenditure? Tick all that apply Risks driven by changes in regulation Risks driven by changes in physical climate parameters Risks driven by changes in other climate-related developments 5.1a

14 Please describe your risks driven by changes in regulation ID Risk driver Description Potential impact Timeframe Direct/ Indirect Likelihood Magnitude of impact Fuel/energy taxes and regulations Fuel/energy taxes and regulations Topdanmark's customers are exposed to national as well as EU regulations which indirectly could affect our business. Topdanmark's suppliers are exposed to national as well as EU regulations which indirectly could affect our business. Reduced demand for goods/services Increased operational cost 6-10 years 6-10 years Indirect (Client) Indirect (Supply chain) Unlikely About as likely as not Low Low-medium 5.1b Please describe (i) the potential financial implications of the risk before taking action; (ii) the methods you are using to manage this risk and (iii) the costs associated with these actions As Topdanmark is a financial services group with relatively limited CO2 emissions in its day-to-day operations, changes in regulations related to climate changes do not present a significant risk to our business. However, both our customers and suppliers are exposed to national as well as EU regulations which indirectly could affect our business, as described in 1a. The financial implication by not taking action could be increased cost, reduced sale and loss of business opportunity. Observation of changes in all kinds of regulation, taxes, duties etc. related to climate and climate changes - whether they affect Topdanmark directly or indirectly - is an integrated part of Topdanmark's way of doing business and part of our risk management. We supervise behavioural changes in society arising from changes in regulation in order to cope with changes in risk patterns and thereby potential changes in opportunities for developing new products to meet new requirements among our customers. 5.1c

15 Please describe your risks that are driven by change in physical climate parameters ID Risk driver Description Potential impact Timeframe Direct/ Indirect Likelihood Magnitude of impact Other physical climate drivers Change in precipitation extremes and droughts Large events caused by storms or clouds may affect Topdanmark's administration with the risk that its claims handling system breaks down. Changes in precipitation extrems and storms could give increased number of claims. Other: System break down Increased operational cost 6-10 years Direct Unlikely High 6-10 years Direct About as likely as not Low-medium 5.1d Please describe (i) the potential financial implications of the risk before taking action; (ii) the methods you are using to manage this risk; and (iii) the costs associated with these actions Risk of system break down Physical threats towards Topdanmark's properties, employees and production: Most of Topdanmark's business is operated from a few office properties whose exposure to the effect of climate change is insignificant. Therefore Topdanmark's employees and properties are not exposed directly to physical risks from climate change. However, large events caused by storms or clouds may affect Topdanmark's administration due to increased number of claims with the risk that its claims handling system breaks down. To meet this threat Topdanmark has prepared emergency plan for disasters to ensure that prompt, correct and targeted action is taken on a major weather event such as storm, hurricane, rainstorm or flood. The emergency programme is on several levels which enables a proportional response depending on the size of the event. Topdanmark has appointed emergency helpers throughout the company whose claims handling knowledge is regularly kept up-to-date. Furthermore alert drills are held twice a year in order to prepare the employees and improve the emergency programme Risk of increased number in weather relates claims Large weather related damages caused by storms or clouds may affect Topdanmarks cost due to increased number of claims. Preparing for increase in weather related claims is part of Topdanmarks business strategy and risk management: By monitoring weather-related claims to prepare for new situations By calculating the risks associated with these types of damages and thereby setting the prices. By integrating damage prevention in our product and services, both in relation to our private and commercial customers. In 2012, the first step to new site on prevention was taken which will give easy access to information.

16 Furthermore, Topdanmark limits its insurance risk on significant events through a comprehensive reinsurance programme. Reinsurance covers storm claims of up to DKK 5.1bn with a retention of DKK 100m. Snow loading, snow thawing and rainstorms are also covered. When using its reinsurance cover, Topdanmark will have to pay a reinstatement premium. In the event of another storm within the same year there is cover of up to a further DKK 5.1bn with a retention of DKK 100m. In the event of a third or fourth storm there is cover of DKK 670m with a retention of DKK 20m. The cover of a third or fourth storm is dependent on the storm programme not having been hit previously by two individual storms each exceeding DKK 3.6bn. The storm programme is renewed on 1 July. Specific reinsurance cover of DKK 100m for rainstorms takes effect if accumulated annual rainstorm claims exceed DKK 50m. For a claim to be accumulated, the event must exceed DKK 10m. The maximum retention in the event of an extreme rainstorm is DKK 75m plus reinstatement premiums. By developing relevant product to new situations meeting the need of our customers. 5.1e Please describe your risks that are driven by changes in other climate-related developments ID Risk driver Description Potential impact Timeframe Direct/ Indirect Likelihood Magnitude of impact Other drivers Strategic risks. Generally, strategic risks are related to the Company's business model, political conditions, reputation, alliance partners' and competitors' behaviour as well as macroeconomic conditions Increased operational cost 6-10 years Indirect (Client) Unlikely Unknown 5.1f Please describe (i) the potential financial implications of the risk before taking action; (ii) the methods you are using to manage this risk; (iii) the costs associated with these actions Topdanmark's business model stands strong against strategic risks. The results of the Company will, with a very high probability, be a profit even in the event of another collapse in the financial markets

17 as in The results of the Company will also be a profit if it is hit by a storm like the 1999-hurricane, which was the largest storm event in the Company's history In a situation when Topdanmark's solvency might come under pressure, the share buy-back will be stopped. Additionally, the cancellation of own shares bought under the buy-back programme will be effected with a certain delay giving Topdanmark the opportunity to increase its solvency capital by selling own shares. 5.1g Please explain why you do not consider your company to be exposed to risks driven by changes in regulation that have the potential to generate a substantive change in your business operations, revenue or expenditure 5.1h Please explain why you do not consider your company to be exposed to risks driven by physical climate parameters that have the potential to generate a substantive change in your business operations, revenue or expenditure 5.1i Please explain why you do not consider your company to be exposed to risks driven by changes in other climate-related developments that have the potential to generate a substantive change in your business operations, revenue or expenditure Page: 6. Climate Change Opportunities 6.1

18 Have you identified any climate change opportunities (current or future) that have the potential to generate a substantive change in your business operations, revenue or expenditure? Tick all that apply Opportunities driven by changes in regulation Opportunities driven by changes in physical climate parameters Opportunities driven by changes in other climate-related developments 6.1a Please describe your opportunities that are driven by changes in regulation ID Opportunity driver Description Potential impact Timeframe Direct/Indirect Likelihood Magnitude of impact General environmental regulations, including planning Topdanmark finds it probable that regulations will be introduced in the future to help reducing the CO2-emissions from Danish enterprices and households. Such regulations are likely to affect our customer's patterns of behavior. New products/business services >10 years Direct About as likely as not Lowmedium 6.1b Please describe (i) the potential financial implications of the opportunity; (ii) the methods you are using to manage this opportunity and (iii) the costs associated with these actions Topdanmark finds it probable that regulations will be introduced in the future to help reducing the CO2-emissions from Danish enterprices and households. Such regulations are likely to affect our customer's patterns of behavior. Opportunity can arrise in case of new regulations minimizing emissions. New technologies can become available because of new regulations on emissions. Examples of new technologies include electric cars, windmills, and solar cells. The new environmentally friendly technologies will need insurances which will create a new business opportunity.

19 6.1c Please describe the opportunities that are driven by changes in physical climate parameters ID Opportunity driver Description Potential impact Timeframe Direct/ Indirect Likelihood Magnitude of impact Other physical climate opportunities An increase in physical damages caused by weather extremes (for example a warmer climate or more rain and snow) will increase the need for insurances. New products/business services 6-10 years Direct About as likely as not Low-medium 6.1d Please describe (i) the potential financial implications of the opportunity; (ii) the methods you are using to manage this opportunity and (iii) the costs associated with these actions Topdanmark monitors the market and follows customer demands to be able to provide the necessary products and services related to changes in climate. As example, we have developed new insurance product related to rainstorms and heavy snow storms. Also, we constantly adapt our serivces and insurance conditions to cover environmentally friendly technologies to meet our customers demands. Topdanmark's Risk-based price models implies that insurance price of the new product may increase in case of frequent damages. On the other hand, price may decrease if customer implement damage prevention. 6.1e Please describe the opportunities that are driven by changes in other climate-related developments ID Opportunity driver Description Potential impact Timeframe Direct/ Indirect Likelihood Magnitude of impact Changing A change in customer behavior, to appreciating New products/business 6-10 years Direct About as Low

20 ID Opportunity driver Description Potential impact Timeframe Direct/ Indirect Likelihood Magnitude of impact consumer behaviour Reputation environmentally friendly products and services more, can affect Topdanmark. Customers will demand more environmentally friendly products and services from Topdanmark. Also, Topdanmark can improve their reputation by engaging in environmentally friendly initiatives, which can have a beneficial effect. services Increased demand for existing products/services 6-10 years likely as not About as likely as not Lowmedium 6.1f Please describe (i) the potential financial implications of the opportunity; (ii) the methods you are using to manage this opportunity; (iii) the costs associated with these actions 6.1g Please explain why you do not consider your company to be exposed to opportunities driven by changes in regulation that have the potential to generate a substantive change in your business operations, revenue or expenditure 6.1h Please explain why you do not consider your company to be exposed to opportunities driven by physical climate parameters that have the potential to generate a substantive change in your business operations, revenue or expenditure

21 6.1i Please explain why you do not consider your company to be exposed to opportunities driven by changes in other climate-related developments that have the potential to generate a substantive change in your business operations, revenue or expenditure Module: GHG Emissions Accounting, Energy and Fuel Use, and Trading [Investor] Page: 7. Emissions Methodology 7.1 Please provide your base year and base year emissions (Scopes 1 and 2) Base year Scope 1 Base year emissions (metric tonnes CO2e) Scope 2 Base year emissions (metric tonnes CO2e) Sat 01 Jan Sat 31 Dec Please give the name of the standard, protocol or methodology you have used to collect activity data and calculate Scope 1 and Scope 2 emissions Please select the published methodologies that you use

22 Please select the published methodologies that you use The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition) 7.2a If you have selected "Other", please provide details below 7.3 Please give the source for the global warming potentials you have used Gas Reference CO2 Other: ILCD, International Reference Life Cycle Data System 7.4 Please give the emissions factors you have applied and their origin; alternatively, please attach an Excel spreadsheet with this data Fuel/Material/Energy Emission Factor Unit Reference Further Information

23 Please note that year 2011 is our new base year. Topdanmark prepares annual carbon emissions accounts in accordance with the guidelines of the 'Climate Compasset', an application developed by the Danish Business Authority to calculate carbon emissions. We have chosen to include the following elements in the carbon emissions accounts which we consider to be the principal sources of our carbon emissions. heat consumption electricity consumption driving in company cars use of own car for business purposes In 2012 it was decided that consumption of heating and electricity should be restricted to our head office and the office in Viby while it does not include our minor sales centres any longer. This is due to two factors: we have no reliable data on the heating and electricity consumption in our sales centres and this consumption represents only 5% of the overall consumption. We realised that the data included in earlier carbon account has not been reliable. Due to that that decision, a new carbon emissions accounts for 2011 has been calculated based on the new rules to make it possible to combare 2012-figures with 2011-figures based on the same criterieas. Therefore, the scope 1 and scope 2 CO2-emissions figures in the 2011 Carbon Disclosure report (8.2a) differ from the figure stated in this (2012) report (7.1). Page: 8. Emissions Data - (1 Jan Dec 2012) 8.1 Please select the boundary you are using for your Scope 1 and 2 greenhouse gas inventory Operational control 8.2 Please provide your gross global Scope 1 emissions figures in metric tonnes CO2e

24 Please provide your gross global Scope 2 emissions figures in metric tonnes CO2e Are there are any sources (e.g. facilities, specific GHGs, activities, geographies, etc.) of Scope 1 and Scope 2 emissions which are not included in your disclosure? Yes 8.4a Please complete the table Source Scope Explain why the source is excluded fascilities Scope 1 and 2 We do not have reliable data on the heating and electricity consumption in our minor sales centres and the consumption from these sales centres represent only approx 5% of the overall consumption - see further explanantion in Comment in section Please estimate the level of uncertainty of the total gross global Scope 1 and 2 emissions figures that you have supplied and specify the sources of uncertainty in your data gathering, handling and calculations

25 Scope 1 emissions: Uncertainty range Scope 1 emissions: Main sources of uncertainty Scope 1 emissions: Please expand on the uncertainty in your data Scope 2 emissions: Uncertainty range Scope 2 emissions: Main sources of uncertainty Scope 2 emissions: Please expand on the uncertainty in your data More than 5% but less than or equal to 10% Data Gaps Data Management Data on driving in company cars (leased cars) are collected from the registration of fuel consumption (litres of petrol or diesel). Data management is not optimal as minor part of the consumption may not be registered. Gas connsumption for heating is collected from consumption reports made available by suppliers and intern reports. Data quality is considered to be high, but minor errors may occur. More than 2% but less than or equal to 5% Data Gaps Electricity connsumption is collected from consumption reports made available by suppliers and by internal management systems. Data quality is considered to be high, but minor errors may occur. 8.6 Please indicate the verification/assurance status that applies to your Scope 1 emissions No third party verification or assurance 8.6a Please indicate the proportion of your Scope 1 emissions that are verified/assured 8.6b Please provide further details of the verification/assurance undertaken, and attach the relevant statements

26 Type of verification or assurance Relevant standard Attach the document 8.6c Please provide further details of the regulatory regime to which you are complying that specifies the use of Continuous Emissions Monitoring Systems (CEMS) Regulation % of emissions covered by the system Compliance period Evidence of submission 8.7 Please indicate the verification/assurance status that applies to your Scope 2 emissions No third party verification or assurance 8.7a Please indicate the proportion of your Scope 2 emissions that are verified/assured 8.7b Please provide further details of the verification/assurance undertaken, and attach the relevant statements

27 Type of verification or assurance Relevant standard Attach the document 8.8 Are carbon dioxide emissions from biologically sequestered carbon relevant to your organization? No 8.8a Please provide the emissions in metric tonnes CO2 Page: 9. Scope 1 Emissions Breakdown - (1 Jan Dec 2012) 9.1 Do you have Scope 1 emissions sources in more than one country? No 9.1a Please complete the table below Country/Region Scope 1 metric tonnes CO2e

28 9.2 Please indicate which other Scope 1 emissions breakdowns you are able to provide (tick all that apply) By activity 9.2a Please break down your total gross global Scope 1 emissions by business division Business division Scope 1 emissions (metric tonnes CO2e) 9.2b Please break down your total gross global Scope 1 emissions by facility Facility Scope 1 emissions (metric tonnes CO2e) Latitude Longitude 9.2c Please break down your total gross global Scope 1 emissions by GHG type GHG type Scope 1 emissions (metric tonnes CO2e)

29 9.2d Please break down your total gross global Scope 1 emissions by activity Activity Scope 1 emissions (metric tonnes CO2e) Heating - natural gas 963 Leased cars used for business purpose e Please break down your total gross global Scope 1 emissions by legal structure Legal structure Scope 1 emissions (metric tonnes CO2e) Page: 10. Scope 2 Emissions Breakdown - (1 Jan Dec 2012) 10.1 Do you have Scope 2 emissions sources in more than one country? No 10.1a Please complete the table below

30 Country/Region Scope 2 metric tonnes CO2e Purchased and consumed electricity, heat, steam or cooling (MWh) Purchased and consumed low carbon electricity, heat, steam or cooling (MWh) 10.2 Please indicate which other Scope 2 emissions breakdowns you are able to provide (tick all that apply) By activity 10.2a Please break down your total gross global Scope 2 emissions by business division Business division Scope 2 emissions (metric tonnes CO2e) 10.2b Please break down your total gross global Scope 2 emissions by facility Facility Scope 2 emissions (metric tonnes CO2e) 10.2c

31 Please break down your total gross global Scope 2 emissions by activity Activity Scope 2 emissions (metric tonnes CO2e) Heat consumption district heating 116 Electricity consumption d Please break down your total gross global Scope 2 emissions by legal structure Legal structure Scope 2 emissions (metric tonnes CO2e) Page: 11. Energy 11.1 What percentage of your total operational spend in the reporting year was on energy? More than 0% but less than or equal to 5% 11.2 Please state how much fuel, electricity, heat, steam, and cooling in MWh your organization has purchased and consumed during the reporting year Energy type MWh Fuel 4858 Electricity 7165 Heat 515

32 Energy type MWh Steam Cooling 11.3 Please complete the table by breaking down the total "Fuel" figure entered above by fuel type Fuels MWh Natural gas Please provide details of the electricity, heat, steam or cooling amounts that were accounted at a low carbon emission factor Basis for applying a low carbon emission factor MWh associated with low carbon electricity, heat, steam or cooling Comments Non-grid connected low carbon heat, steam or cooling, generation owned by company 165 Generated by our own solar cell system Page: 12. Emissions Performance 12.1 How do your absolute emissions (Scope 1 and 2 combined) for the reporting year compare to the previous year? Decreased

33 12.1a Please complete the table Reason Emissions value (percentage) Direction of change Comment Emissions reduction activities 2 Decrease Divestment Acquisitions Mergers Change in output Change in methodology Change in boundary Change in physical operating conditions Unidentified Other 12.2 Please describe your gross combined Scope 1 and 2 emissions for the reporting year in metric tonnes CO2e per unit currency total revenue Intensity figure Metric numerator Metric denominator % change from previous year Direction of change from previous year Reason for change 0.45 metric tonnes CO2e unit total revenue 2.2 Decrease Emission reduction activities Please describe your gross combined Scope 1 and 2 emissions for the reporting year in metric tonnes CO2e per full time equivalent (FTE) employee

34 Intensity figure Metric numerator Metric denominator % change from previous year Direction of change from previous year Reason for change 2.2 metric tonnes CO2e FTE employee 4.3 Decrease Emission reduction activities Please provide an additional intensity (normalized) metric that is appropriate to your business operations Intensity figure Metric numerator Metric denominator % change from previous year Direction of change from previous year Reason for change Page: 13. Emissions Trading 13.1 Do you participate in any emissions trading schemes? No, and we do not currently anticipate doing so in the next 2 years 13.1a Please complete the following table for each of the emission trading schemes in which you participate Scheme name Period for which data is supplied Allowances allocated Allowances purchased Verified emissions in metric tonnes CO2e Details of ownership

35 13.1b What is your strategy for complying with the schemes in which you participate or anticipate participating? 13.2 Has your company originated any project-based carbon credits or purchased any within the reporting period? No 13.2a Please complete the table Credit origination or credit purchase Project type Project identification Verified to which standard Number of credits (metric tonnes of CO2e) Number of credits (metric tonnes CO2e): Risk adjusted volume Credits retired Purpose, e.g. compliance Page: 14. Scope 3 Emissions 14.1 Please account for your organization s Scope 3 emissions, disclosing and explaining any exclusions Sources of Scope 3 emissions Evaluation status metric tonnes CO2e Methodology Percentage of emissions calculated using primary data Explanation

36 Sources of Scope 3 emissions Evaluation status metric tonnes CO2e Methodology Percentage of emissions calculated using primary data Explanation Purchased goods and services Capital goods Fuel-and-energy-related activities (not included in Scope 1 or 2) Upstream transportation and distribution Relevant, not yet calculated Not evaluated Not relevant, explanation provided Not evaluated Waste generated in operations Relevant, not yet calculated Business travel Relevant, calculated % Employee commuting Not evaluated Upstream leased assets Not evaluated Investments Not evaluated Downstream transportation and distribution Not relevant, explanation provided Processing of sold products Not relevant, explanation provided Use of sold products Not relevant, explanation provided End of life treatment of sold products Not relevant, explanation provided Downstream leased assets Not evaluated Franchises Not evaluated Other (upstream) Not evaluated Other (downstream) Not evaluated 5% No reliable data from minor sale centers and low percentage of emissions. Our product are financial products and services Our product are financial products and services Our product are financial products and services Our product are financial products and services 14.2 Please indicate the verification/assurance status that applies to your Scope 3 emissions No third party verification or assurance

37 14.2a Please indicate the proportion of your Scope 3 emissions that are verified/assured 14.2b Please provide further details of the verification/assurance undertaken, and attach the relevant statements Type of verification or assurance Relevant standard Attach the document 14.3 Are you able to compare your Scope 3 emissions for the reporting year with those for the previous year for any sources? Yes 14.3a Please complete the table

38 Sources of Scope 3 emissions Reason for change Emissions value (percentage) Direction of change Comment Business travel Other: See comments 0 The figure for both 2011 and 2012 has been 'normalises' as we had data for 11 months in 2011 while we had data for 13 month in Therefore, the figures are equal and we cann't see any changes. As we did not have any CO2-reduction activities in 2012 we did not expect any change Do you engage with any of the elements of your value chain on GHG emissions and climate change strategies? (Tick all that apply) Yes, our suppliers Yes, our customers 14.4a Please give details of methods of engagement, your strategy for prioritizing engagements and measures of success Suppliers As a Global Compact signatory we recommend all our alliance partners to comply with the ten principles including principles on the environment. As example of initiatived focusing on reduction of CO2-emissions in value chain: In 2012, we have made new agreements on claims service improving the control of particularly dehumidification in the event of water damage. The dehumidification of damp basements is a very energy-intensive activity and improved control of the time of dehumidification significantly reduces the strain on energy and hence reduce the CO2-emissions. Customers In relation to our customers we focus on loss prevention which is beneficial for the environment. Rebuilding after, for example, fire and water damage demands many resources impacting the environment and carbon emission levels. Through Technical Institute of Sweden, our Swedish colleague in the industry, Länsförsäkringar, has prepared a report on how much carbon emission is saved by preventing fire and water damage. We have been allowed to disclose some of the figures: For example, water damage prevention saves the environment an emission of 300 kilos of CO2, while the prevention of a total loss house fire saves an emission of 25 tons of CO2.

39 14.4b To give a sense of scale of this engagement, please give the number of suppliers with whom you are engaging and the proportion of your total spend that they represent Number of suppliers % of total spend Comment c If you have data on your suppliers GHG emissions and climate change strategies, please explain how you make use of that data How you make use of the data Please give details We do not have any data 14.4d Please explain why not and any plans you have to develop an engagement strategy in the future Module: Sign Off Page: Sign Off

40 Please enter the name of the individual that has signed off (approved) the response and their job title Pernille Fogh Christensen, CSR Manager CDP 2013 Investor CDP 2013 Information Request