RVBA-MMC

Marsh McLennan — full event log

Every event we have on file across every reporting year. The Data-by-year tab summarises the top 10 per year; this page shows them all.

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2025· 5 events

Marsh McLennan businesses unified under new Marsh brandData confidence — high

CEO message announces bringing all businesses together under a new Marsh brand to deliver greater value across risk, reinsurance, talent, health, investments and consulting.

sustainability_report p.3

Acquisitions of McGriff and CardanoData confidence — high

Marsh acquired McGriff and Cardano in recent years; these acquisitions affected the emissions inventory and required a re-baseline of 2019 figures.

sustainability_report p.10

Limited assurance on emissions dataData confidence — med

Marsh receives limited assurance on its emissions data per Greenhouse Gas Protocol; the report itself is not externally assured.

sustainability_report p.28

Scope 3 long-term target expanded to include upstream transport and commutingData confidence — med

Long-term Scope 3 target covers purchased goods, capital goods, upstream transportation and distribution, business travel and employee commuting (97% per $M operating profit by 2050) — broader than the near-term target which excludes upstream transport and commuting.

sustainability_report p.9

Re-baselined 2019 emissions to incorporate McGriff and Cardano acquisitionsData confidence — high

Marsh re-baselined its 2019 emissions baseline to incorporate recent acquisitions including McGriff and Cardano. Restated 2019 figures appear in the appendix and serve as the baseline for SBTi targets.

sustainability_report p.10

2024· 11 events

CarbonNeutral company certification maintained for fourth yearData confidence — high

Marsh McLennan was certified as a CarbonNeutral company for the fourth consecutive year in 2024, covering Scope 1, Scope 2 and select Scope 3 sources including business travel, achieved through use of carbon offsets.

sustainability_report p.10

Double materiality assessment completed in 2024Data confidence — high

Partnered with Oliver Wyman to complete a double materiality assessment in 2024 to identify priority topics and prepare for emerging regulatory requirements (EU, UK, Australia, California). Identified climate change as a double materiality topic.

sustainability_report p.8

Significant increase in employee commuting emissionsaffects scope 3 employee commutingData confidence — med

Scope 3 Category 7 (Employee commuting) emissions increased from 27,608 tCO2e in 2023 to 74,769 tCO2e in 2024, a ~170% increase, likely tied to the methodology change disclosed for Scope 3.

sustainability_report p.17

SBTi validation of near-term and long-term targets received in 2024Data confidence — high

In 2022 Marsh McLennan committed to net-zero by 2050 and -50% Scope 1+2 by 2030 from 2019 baseline. SBTi validation of these targets was received in 2024. Long-term target: -90% Scope 1+2 by 2050; Scope 3 -55% by 2030 and -97% by 2050 per million USD operating profit (from 2019 base).

sustainability_report p.9

SBTi validated near-term and long-term targetsData confidence — high

SBTi validated Marsh's targets in 2024: 50% absolute Scope 1+2 reduction by 2030 from 2019, 90% by 2050, plus Scope 3 intensity reductions of 55% by 2030 and 97% by 2050 per million USD operating profit.

sustainability_report p.9

CarbonNeutral certification maintained for fourth consecutive yearData confidence — high

Certified as a CarbonNeutral company for the fourth year in 2024 covering Scope 1, Scope 2 and select Scope 3 sources including business travel; uses voluntary carbon offsets (51% avoidance, 25% reduction, 24% removal).

sustainability_report p.10

Third-party limited assurance of GHG dataData confidence — high

Emissions are measured per GHG Protocol and verified by a third-party provider; limited assurance per TCFD strategy disclosure.

sustainability_report p.10

Significant restatement-like change in employee commuting emissionsaffects scope 3 employee commutingData confidence — med

Category 7 Employee commuting jumped from 27,608 tCO2e (2023) to 74,769 tCO2e (2024), reflecting methodology enhancements that more fully capture commuting impacts.

sustainability_report p.17

Scope 3 calculation methodology change drove increase; rebaseline expectedaffects scope 3 co2eData confidence — high

2024 GHG inventory shows a material increase in Scope 3 emissions vs. historical value chain emissions (total Scope 3 rose from 498,072 in 2023 to 662,042 in 2024), primarily due to a change in calculation methodology and process enhancements. Company expects to rebaseline using the new methodology.

sustainability_report p.10

SBTi validation of near-term and net-zero targets received in 2024Data confidence — high

Marsh McLennan received SBTi validation in 2024 of its commitment to reach net-zero by 2050, reduce absolute Scope 1+2 emissions 50% by 2030 (90% by 2050) from 2019 baseline, and reduce Scope 3 emissions from purchased goods, capital goods and business travel by 55% per million USD operating profit by 2030 (97% by 2050).

sustainability_report p.9

Scope 3 calculation methodology change drove increase in 2024affects scope 3 co2eData confidence — high

The 2024 GHG inventory shows an increase in Scope 3 emissions relative to historical value chain emissions, primarily due to a change in calculation methodology and process enhancements. Marsh McLennan expects to rebaseline using the new calculation methodology.

sustainability_report p.10

2023· 6 events

Added ground transportation to Scope 3 business travelaffects scope 3 business travelData confidence — high

Scope 3 air travel emissions were updated from previous reporting due to addition of ground transportation sources, affecting comparability of business travel figures across years.

sustainability_report p.49

Pacific region M&A: BT Super, Advance Asset Management, Austral RiskData confidence — high

Pacific region saw 11% colleague growth driven in part by merger of BT Super into Mercer Super Trust and acquisitions of Advance Asset Management Limited and Austral Risk Services.

sustainability_report p.20

ESG double materiality assessment launchedData confidence — high

In 2023, launched a double materiality assessment to identify priority ESG topics; outputs to be disclosed in 2024 ESG report.

sustainability_report p.7

Submitted climate targets to SBTi for validationData confidence — high

In 2023, Marsh McLennan submitted its climate targets to the Science Based Targets initiative for validation, building on its March 2022 commitment to net-zero by 2050 with 50% reduction by 2030.

sustainability_report p.9

Acquisitions and merger in Pacific regionData confidence — high

Pacific region grew 11% year-over-year due in part to the merger of BT Super into Mercer Super Trust and acquisitions of Advance Asset Management Limited and Austral Risk Services.

sustainability_report p.20

Major shift in market-based Scope 2 from renewable electricity transitionData confidence — high

Renewable electricity rose from 13% in 2022 to 62% in 2023, driving market-based Scope 2 emissions down from 68,030 to 34,298 tCO2e. Renewable electricity was deployed across largest offices in US, UK and South Africa.

sustainability_report p.50

2022· 9 events

Net-zero by 2050 with 50% reduction by 2030 announcedData confidence — high

In March 2022, announced goals to achieve net-zero carbon emissions across global business operations by 2050, with 50% emissions reduction by 2030.

sustainability_report p.9

Net-zero by 2050 commitment with 50% reduction by 2030Data confidence — high

Marsh McLennan announced commitment to set and execute low-carbon transition strategies to chart a path to net-zero across core operations by 2050, with emissions reduction target of 50% by 2030. Signed commitment letter to Science Based Targets initiative.

sustainability_report p.13

First full Scope 3 inventory calculated for 2019 and 2022affects scope 3 co2eData confidence — high

As part of SBTi submission, Marsh McLennan calculated its first full Scope 3 inventory for calendar years 2019 (baseline) and 2022 (most recent year of full data). 2023 full Scope 3 not disclosed.

sustainability_report p.10

Limited assurance verification by Optera (ISO 14064-3)Data confidence — high

Optera provided limited level of assurance verification covering 100% of Scope 1, Scope 2 (location & market), and Scope 3 business travel (air and rail) for FY2022.

sustainability_report p.2

Added commercial rail travel to Scope 3 business travelaffects scope 3 business travelData confidence — high

Commercial rail travel reported for the first time in 2022 (20 mtCO2e); 2021 figure was N/A.

sustainability_report p.2

First full Scope 3 inventory calculatedaffects scope 3 co2eData confidence — high

As part of the SBTi submission, Marsh McLennan calculated its first full Scope 3 inventory for calendar years 2019 (baseline) and 2022, covering Categories 1, 2, 3, 4, 5, 6, 7, 8, 13 and 15.

sustainability_report p.10

Business travel emissions increased +584% due to post-pandemic travel and methodology changeaffects scope 3 business travelData confidence — high

Scope 3 business travel (commercial air) rose from 7,398 mtCO2e in 2021 to 50,634 mtCO2e in 2022, a +584% increase. Optera notes the change reflects increased post-pandemic travel as well as data improvement and methodology change.

sustainability_report p.2

Business travel emissions methodology change and post-pandemic travel reboundaffects scope 3 business travelData confidence — high

Scope 3 commercial air travel emissions increased 584% from 7,398 to 50,634 mtCO2e. The verification statement attributes this to 'increased, post-pandemic travel; as well as data improvement and methodology change'. Commercial rail travel was added in 2022 (N/A in 2021).

sustainability_report p.2

Limited assurance verification by OpteraData confidence — high

GHG inventory verified to a limited level of assurance by Optera per ISO 14064-3, covering 100% of Scope 1, Scope 2, and Scope 3 business travel (air and rail).

sustainability_report p.2

2021· 8 events

GHG emissions data verified by OpteraData confidence — high

All GHG emissions data was reviewed and verified by third party assurance provider Optera. Note: report itself states it has not been externally assured or verified.

sustainability_report p.15

Scope 3 limited to business air travel onlyData confidence — high

Marsh McLennan's reported and verified Scope 3 emissions include only business commercial air travel; other Scope 3 categories not yet measured.

sustainability_report p.15

Net-zero by 2050 commitment with 50% reduction by 2030Data confidence — high

Marsh McLennan committed to set and execute low-carbon transition strategies to chart a path to net-zero across core operations by 2050, with an emissions reduction target of 50% by 2030. Signed commitment letter to SBTi.

sustainability_report p.13

COVID-19 reduced business travel emissionsaffects scope 3 business travelData confidence — high

Scope 3 business air travel emissions remained low in 2021 due to continued COVID-19 pandemic impact, contributing significantly to the surpassing of the 15% reduction target.

sustainability_report p.14

Third party verification by OpteraData confidence — high

All GHG emissions data was reviewed and verified by third party assurance provider Optera.

sustainability_report p.15

Achieved CarbonNeutral company certificationData confidence — high

In 2021, Marsh McLennan became certified as a CarbonNeutral company in accordance with The CarbonNeutral Protocol, calculating and offsetting Scope 1, Scope 2 and select Scope 3 including business travel.

sustainability_report p.16

Restated 2019 and 2020 GHG emissions for methodology changesaffects scope 1 co2eData confidence — high

2021 Scope 1, 2, and 3 emissions calculations incorporated methodological changes made to more accurately reflect true impact. To maintain consistency, emissions data from 2019 and 2020 have been modified to reflect these changes.

sustainability_report p.15

Methodological changes to Scope 1, 2, 3 calculations; 2019-2020 restatedData confidence — high

2021 Scope 1, 2, and 3 emissions calculations incorporated methodological changes to more accurately reflect impact. Emissions data from 2019 and 2020 were modified to reflect these changes.

sustainability_report p.15

2020· 2 events

15% reduction in Scopes 1, 2 and business travel by 2025 (2019 baseline)Data confidence — high

In 2020, Marsh McLennan committed to reducing emissions from Scopes 1, 2 and business travel 15% below 2019 levels by 2025. As of year-end 2021, surpassed this goal—primarily due to limited business travel during COVID-19.

sustainability_report p.14

15% emissions reduction target (Scopes 1, 2 & business travel) by 2025 vs 2019Data confidence — high

In 2020, committed to reducing emissions from Scopes 1, 2 and business travel 15% below 2019 levels by 2025. As of year-end 2021, surpassed this goal, primarily due to limited business travel during COVID-19.

sustainability_report p.14