As a business focused on understanding global risks, we understand all too clearly the impact of climate change on the world. Our environmental footprint is not as significant as some other sectors as we are a service industry and predominantly office-based. However, we do take care to limit our use of resources, with an effective waste management system in place, and to manage our environmental impact by measuring and offsetting our carbon emissions.

The Company's carbon footprint, calculated between 1 January 2017 and 31 December 2017, was 2,453.3 CO2 tonnes. In accordance with ISO 14064 standards, the Company's carbon figure measures scope 1 and 2 emissions, to include direct and energy indirect emissions. The Company measured and offset its Scope 3 emissions relating to business travel and other indirect emissions. The Company used the number of full-time employees (FTE) as its intensity metric and determined an intensity ratio of 12.0 tCO2 per FTE.

The Company has offset its carbon emissions with Carbon Clear by contributing towards a project to supply low-smoke cooking stoves to communities in the Darfur region of Sudan. The Group is again carbon neutral and dedicated to exploring initiatives that ensure we limit emissions, and positively manage our footprint.

LICL has endorsed the Association of Bermuda Insurers and Reinsurers’ Policy Statement on Climate Change.

Paper Use:

Ours is a document-based industry but we mitigate this by signing up to e-trading initiatives, having recycling bins and shredders around the office, encouraging double-sided printing and providing frequently used documents on our intranet.

Business Travel:

Meeting our clients, investors and reinsurers is important to us and we travel extensively around the world to do so. However, for internal meetings we make as much use as possible of video conferencing - the daily UMCC and fortnightly RRC are good examples.

Energy Use:

Our office buildings (of which we are tenants) have smart technology to reduce energy usage, and we encourage colleagues to turn off unused electrical equipment. Our London offices have fuel-cell on site, solar panel roofing and full energy metering on site. The Group's UK operations continued to achieve BREEAM excellence for the offices at 20 Fenchurch Street in 2017.