CORPORATE SOCIAL RESPONSIBILITY

Greenhouse Gas Emissions

Verisk’s 2023 Greenhouse Gas (GHG) Emissions

Additional office consolidations, the continued transition to more efficient cloud-based data processing, improved fuel efficiency for the Company’s commercial underwriting automobile fleet, and the impact of the Wood Mackenzie divestment, collectively contributed to reduce Verisk’s Scope 1 and 2 emissions for 2023 compared to the prior year.

The emissions were calculated in conjunction with Verisk’s annual GHG inventory and response to CDP’s 2024 Questionnaire. The inventory covered 100% of Verisk’s global operations, including three newly acquired businesses that began reporting the first full month following their integration. Emissions for Wood Mackenzie were also included in the inventory for the month prior to its divestment.

Verisk reports emissions on both a location- and market-basis. Absolute Scope 1 and 2 emissions calculated on a location-basis – that is, before renewable energy certificates (RECs) are applied – indicate that Verisk has exceeded its target to reduce such emissions 21% by 2024, compared to a 2019 baseline. The 21% target was calculated by Ecometrica, a CDP-accredited solutions provider, using Science Based Targets guidance aligned with a 1.5°C global future.

Calculated on a market-basis, the lower emissions, coupled with the impact of Verisk’s investments in RECs and the application of carbon offsets, helped Verisk balance 100% of its CDP-reported Scope 1, 2, and 3 (business air travel and downstream leased assets) emissions for the seventh consecutive year.

Results for the five-year period 2019-2023, can be found here. An independent third party provided external assurance over certain GHG emissions metrics, and their Report of Independent Accountants as well as our management assertion can be found here.

Verisk conducts its annual emissions inventory in accordance with the Greenhouse Gas Protocol, a globally recognized standard developed in conjunction with the World Resources Institute and the World Business Council for Sustainable Development.

As of 2024, Verisk has submitted formal notification to the Science Based Targets initiative (SBTi) committing to adopt near-term GHG emission reduction targets and achieve Net Zero emissions by 2050. These targets will cover Scope 1, Scope 2, and Scope 3 emissions.