MGIC Investment, a leading insurance company, in 2022, conducted its first greenhouse gas (GHG) emissions assessment to understand its baseline Scope 1 and Scope 2 emissions. The company recognizes the importance of taking urgent action to combat climate change and its impacts on its business. According to the sustainability report, in 2021 the company's scope 1 GHG emissions was 662 tCO2e and scope 2 GHG emissions (location-based) was 2,865 tCO2e & Scope 2 GHG emissions (market-based) was 3,022 tCO2e. Whereas, GHG intensity (per square foot – market based) was 11.47 t CO2e/ 1,000 sq.ft.

Currently, MGIC Investment's GHG emissions are primarily from its Home Office, which accounts for approximately 81% of total emissions. The company's vehicle fleet contributes around 11% of emissions, while the Distribution Center contributes approximately 7%. The top emission sources identified are electricity and purchased steam.

To reduce its emissions, MGIC Investment is implementing energy reduction strategies throughout its real estate footprint. The company is also actively assessing and managing climate-related risks and opportunities. It has integrated processes for identifying, assessing, and managing these risks into its overall risk management framework. The board provides oversight of climate-related risks and opportunities, while management plays a crucial role in assessing and managing them.

In terms of waste management, MGIC Investment has made efforts to increase communication and awareness of recycling in its facilities. It works with a third party to collect and recycle hardware and equipment, such as batteries, toners, laptops, monitors, and other IT hardware. Recycling bins are available in all offices, conference rooms, communal kitchens, and coworker lounges. MGIC Investment's commitment to assessing and refining its comprehension of the effects of climate change on its business demonstrates a proactive stance toward its environmental goals.

In conclusion, MGIC Investment is taking steps to reduce its emissions and manage climate-related risks. The company has conducted a GHG emissions assessment, identified top emission sources, and implemented energy reduction strategies. With its commitment to evaluating and evolving its understanding of climate change impacts, MGIC Investment is on track and aiming a more sustainable future for the world and contribute to combating climate change.

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