AIG commits to net-zero GHG emissions by 2050

Written by Adam Cadle

02/03/2022

AIG has announced a commitment to achieve net-zero greenhouse gas (GHG) emissions across its global underwriting and investment portfolios by 2050, or sooner.

This new commitment complements AIG’s already announced commitment to achieve net-zero GHG emissions by 2050, or sooner, within its own operations.

In addition, AIG has committed to 100% renewable energy for AIG’s operations by 2030, or sooner; committed to using science-based emissions reduction targets, aligning with the latest climate science to meet the goals of the Paris Agreement; with immediate effect, committed to no longer invest in or underwrite new operation insurance risks of coal-fired power plans, thermal coal mines or oil sands for those clients that derive 30% or more of their revenues from these industries, or generate more than 30% of their energy production from coal; committed to phasing out the underwriting of all existing operation insurance risks and ceasing new investments in those clients that derive 30% or more of their revenues from coal-fired power, thermal coal mines or oil sands, or generate more than 30% of their energy production from coal by 1 January 2030, or sooner; and with immediate effect, committed to not investing in or providing insurance cover for any new Arctic energy exploration activities.

“Leading change in a changing world requires being a company of action – and, as a market leader, AIG is committed to setting the standard with our actions,” Peter Zaffino, chairman & CEO at AIG, said.

“We believe today’s ESG commitments are an important step forward for AIG, the clients we serve and the global communities where we live and work. AIG is focused on the realities of climate change. The data about climate change is unambiguous and we believe that AIG can be a catalyst for positive change as it relates to sustainability advancements and renewable energy expansion.”

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