During 2023, Zurich Insurance's $7.9 billion impact investing portfolio helped avoid a total of 4.5 million tonnes of CO2 equivalent (CO2e), whilst also benefited 4.6 million people. The target is to achieve 5 million per year in both categories.

The portfolio spans various asset classes including green, social and sustainability bonds, private equity, infrastructure and private debt projects. This has led it to make investments into solar and wind parks, affordable housing, as well as healthcare and education institutions.

One investment Zurich highlights is within its private equity portfolio managed by Summa into the waste processing and recycling company NG Group. In 2022, the investment assisted to the avoidance of approximately 12,000 of CO2e through NG Group's recycling activities, such as sending waste to material recycling compared to extracting virgin materials. NG also recovers resources and separates contaminated and dangerous waste to provide appropriate treatment as it repurposes waste from household and industries.

"For us, impact investments are profitable investment opportunities that allow us to intentionally target a specific positive social or environmental outcome that we can measure," said Mette Gahr, climate investment analyst at Zurich Insurance. "This recognition shows that our commitment to creating a more resilient future matters. We are committed to channelling our efforts towards impactful initiatives for a just transition to a low carbon economy."

The insurer developed an impact measurement framework for its impact portfolios, which includes an open-source methodology. It follows the Global Impact Investing Network's (GIIN) definition of impact investing, focusing on intentionality of an impact, measuring that impact while ensuring profitability and generating market-rate financial return.