The Hartford has set a goal to achieve net-zero greenhouse gas emissions (GHGe) for its full range of businesses and operations by 2050, in alignment with the Paris Climate Accord.
This goal is in addition to the company’s existing targets to operate with 100 percent renewable-energy-source consumption for its facilities by 2030 and to reduce select GHGe by at least 2.1 percent each year starting in 2015 for a total reduction of 46.2 percent by 2037.
“The Hartford is proud to be a leader in helping address the extensive and crucial challenge of climate change, drawing on our centuries of experience managing risk and our legacy of sustainability,” said The Hartford’s Chairman and CEO Christopher Swift. “We recognize some critical metrics and standards still need to be established to measure progress toward our net-zero goal, but we are focused on doing the essential work and necessary due diligence over the next few years to position us to meet this societal imperative.”
The Hartford noted that standards for measuring emissions associated with underwriting, insurance and investment activities are still being developed. The company said it will evaluate various options and keep its stakeholders informed of progress toward adopting a methodology to measure GHGe in its portfolio of businesses and investments. The Hartford said it will balance the impact to all stakeholders as it considers initiatives, policies and business decisions to achieve net zero, with shareholder value creation remaining central throughout the process.
Source: The Hartford