Union Assurance
Union Assurance, a prominent player in the insurance industry, is headquartered in Sri Lanka (LK) and has established a strong presence across the region. Founded in 1987, the company has achieved significant milestones, positioning itself as a trusted provider of life and general insurance solutions. Specialising in a diverse range of products, Union Assurance offers unique services such as life insurance, health coverage, and investment plans tailored to meet the needs of its clients. The company is recognised for its commitment to customer satisfaction and innovative insurance solutions, which have earned it a reputable market position. With a focus on sustainability and community engagement, Union Assurance continues to make strides in the insurance sector, reflecting its dedication to enhancing the financial security of individuals and businesses alike.
DitchCarbon Score
How does Union Assurance's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Union Assurance's score of 28 is higher than 54% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Union Assurance's reported carbon emissions
In 2024, Union Assurance, headquartered in Sri Lanka (LK), reported total carbon emissions of approximately 1,639,700 kg CO2e. This figure includes 53,290 kg CO2e from Scope 1 emissions, 744,370 kg CO2e from Scope 2 emissions, and 842,030 kg CO2e from Scope 3 emissions. The company has shown a commitment to transparency in its emissions reporting, disclosing data across all three scopes. Comparatively, in 2023, Union Assurance's total emissions were about 966,500 kg CO2e, with Scope 1 emissions at 47,460 kg CO2e, Scope 2 at 836,810 kg CO2e, and Scope 3 at 82,230 kg CO2e. This indicates a significant increase in emissions from 2023 to 2024. Union Assurance's emissions data is cascaded from its parent company, John Keells Holdings PLC, reflecting a corporate family relationship. However, the company has not set specific reduction targets or initiatives as part of its climate commitments, nor does it participate in initiatives like the Science Based Targets initiative (SBTi) or the Carbon Disclosure Project (CDP) at this time. Overall, while Union Assurance has made strides in emissions reporting, it currently lacks defined reduction strategies or commitments to mitigate its carbon footprint.
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| 2018 | 2020 | 2021 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 93,170 | 00,000 | 00,000 | 00,000 |
| Scope 2 | 885,480 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 447,640 | 000,000 | 000,000 | 00,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Union Assurance is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
