Reinsurance News

AIG underlines sustainability targets in first ESG report

6th July 2021 - Author: Katie Baker

Global re/insurer American International Group (AIG) has released its first Environmental, Social and Governance (ESG) report which details its progress toward supporting a more sustainable future for its stakeholders.

AIG LogoThe report outlines how the company is aligning its sustainability efforts with its core business strategy and describes how AIG identifies, measures and manages environmental impact and risk, sets and lives by specific standards of corporate citizenship, and empowers its sustainability agenda.

Enclosed is also AIG’s first detailed public summary of existing Diversity, Equity and Inclusion (DEI) efforts.

It builds on AIG’s commitment to transparency as a public respondent to the CDP, formerly known as the Carbon Disclosure Project, for the last 11 years and one of the first US insurance companies to publish a Task Force on Climate-related Financial Disclosures (TCFD) Report.

The report aligns with recognised guidelines such as the TCFD framework, Sustainability Accounting Standards Board Standards (SASB), Global Reporting Initiative (GRI) standard and UN Sustainable Development Goals.

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Peter Zaffino, AIG’s President & Chief Executive Officer commented: “AIG’s commitment to transparent ESG leadership is a central part of our global corporate citizenship agenda.

“Documenting our progress through this ESG Report creates a mechanism to share our perspectives and a way to measure our progress.

“With more than 40,000 colleagues conducting business in approximately 80 countries, being an agent of change is an important responsibility in a complex and dynamically changing world.”

“AIG strives to be a catalyst for positive change as it relates to sustainability advancements, renewable energy expansion, improved equity for all people and more. We plan to continue to invest in education and guidance toward logical and sensible paths forward for the clients and industries we serve.

“Our work is far from complete; however, I am pleased with the actions AIG has taken to generate momentum toward positive and meaningful outcomes.”

Jennifer Waldner Grant, AIG’s Chief Sustainability Officer, added: “This Report is especially meaningful, because it reflects the hard work done by so many teams and colleagues across AIG to collaborate and align their ESG goals and initiatives.

“I am encouraged by the passion and expertise of my colleagues who are focused on these issues and working diligently to institute real and lasting change.”

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