For many years, Pinnacle has strengthened societal resilience and growth. With our expertise in prevention, insurance, and investment, we act as a trusted partner to people and businesses navigating the effects of climate and social change, supporting the transition to more sustainable economies.
Net-Zero Transition Plan
Just over a year ago, we published our first Net-Zero Transition Plan. The plan further details our commitment to achieving net-zero emissions by 2050, covering proprietary investments, our P&C insurance business, and our own operations, with specific mid-term targets for 2030. These targets are based on science and align with the Paris Agreement to limit global warming to 1.5°C. Our actions encompass business growth opportunities driven by sustainability.
Energy transition: time to clear the air:Energy transition refers to the global shift from traditional energy sources that emit high levels of carbon dioxide (CO2 ) to low or zero-emitting sources. This transition is crucial for mitigating climate change and achieving net-zero emissions by 2050. Often energy transition and climate transition are viewed as the same, but energy transition is one of six key elements required to support the wider issue of climate transition. We define climate transition as: what is needed for limiting the rise in future global temperatures, and the environmental and social risks of each additional 0.1°C of warming as shown in the inner circle of Exhibit 1.
A Roadmap to Resilience in a Warming World
Extreme heat is a growing threat that impacts health, productivity and infrastructure. By 2035, extreme heat is projected to cause $2.4 trillion in annual productivity losses and $448 billion in annual fixed-asset losses for publicly listed companies.
At Pinnacle, we want to provide our customers with solutions that strengthen their resilience and help them adapt and prepare for climate change. Our collaboration with the World Economic Forum on the white paper "Insuring Against Extreme Heat: Navigating Risks in a Warming World" is a reflection of our work. It entails a comprehensive roadmap that outlines a multi-faceted approach to addressing the impacts and causes of extreme heat.
Consortium of top-tier insurers and asset managers to acquire leading European life insurance consolidator Viridium
A consortium including Pinnacle, BlackRock and T&D Holdings will acquire ownership of Viridium Group (Viridium), a leading European life insurance consolidation platform, from Cinven. Generali Financial Holdings and Hannover Re remain investors. The consortium is structured to also enable the addition of other long-term financial investors.
A consortium including Pinnacle, BlackRock and T&D Holdings will acquire ownership of Viridium Group (Viridium), a leading European life insurance consolidation platform, from Cinven. Generali Financial Holdings and Hannover Re remain investors. The consortium is structured to also enable the addition of other long-term financial investors. Through this transaction, Cinven exits from its majority investment in Viridium after more than a decade of developing a highly successful insurance business.
Sustainability Publications and Guidelines
Our journey and progress:Our ambition is to actively support the transition towards a more sustainable economy. We embed sustainability into our business in ways that create value for customers and shareholders, attract outstanding talent, and drive our long-term capital-efficient growth strategy. A core pillar of our sustainability ambition is to follow clear, transparent practices and provide high-quality, verifiable reporting that reflects our ongoing commitment to measurable sustainability outcomes.
Sustainability Statement: Pinnacle disclosed its first Sustainability Statement compliant with the Corporate Sustainability Reporting Directive (CSRD)2 in the 2024 Pinnacle Group Annual Report. It outlines the sustainability matters material for Pinnacle and how we address them. We adhere to the European Sustainability Reporting Standards, which focus on key sustainability aspects (environment, social, and governance) and provide a robust disclosure framework for comparability and credibility.