Hannover RE

Hanover Insurance Group
Germany
Insurance

Corprate Bias Ratings

Risk Level:

Rating - Danger
High Risk

Hannover RE (Hannover), which is a reinsurance company, has divested from various industries including thermal coal, "controversial weapons," and Arctic energy exploration. As a member of the United Nations Global Compact (UNGC), Hannover aims to decarbonize its liquid investment portfolio by 2030 and will not invest in companies/industries that violate UNGC. Hannover vets vendors according to LGBTQ policies and does not protect its employees against viewpoint discrimination. The company discriminates against religious organizations in its charitable giving but has not lobbied for ideological purposes. For these reasons, Hannover RE receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

Hannover RE has committed to decarbonizing its liquid investment portfolio by 2030 (1)(2). The firm has also divested from several industries including: controversial weapons, thermal coal, oilsands, energy exploration in the Arctic, or anything that violates the United Nations Global Compact (UNGC) (3). Hannover RE has a written policy pledging to vet vendors for LGBTQ policies. Its Code of Conduct applies to all suppliers and includes a commitment to not discriminate on the basis of sexual orientation  (4).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

Hannover RE does not fund “religious organizations” (1).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

Hannover RE does not provide viewpoint protections for its employees (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

Hannover RE aligns itself with the Sustainable Development Goals of the United Nations, which includes a commitment to net zero carbon emissions by 2050 (1)(2)(3)(4)(5). The company withdrew its membership from the Net Zero Insurance Alliance, but is still committed to carbon neutrality by 2050 (6). Hannover RE’s CEO signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace (7).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

Hannover RE has not used corporate funds to advance ideological causes, organizations, or policies (1)(2).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

Hannover RE does not operate a PAC but has not lobbied for ideological purposes (1)(2).

All links were last accessed and all information was updated on:
January 23, 2024

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