Aflac Inc. Releases 2nd Sustainability Bond Report
Aflac Incorporated has revealed that it has released its second Sustainability Bond Report, marking two years since the issuance of its inaugural sustainability bond on March 8, 2021.
Aflac's sustainability bond reflects its enduring dedication to maintaining a business approach that balances purpose and profit. The publication of this report signifies the Company's fulfilment of its pledge to issue such a report annually until it is fully allocated.
According to the report, Aflac has allocated $397 million, or 100% of the net proceeds, to four Eligible Categories under its Sustainability Bond Framework: Communities, Green Buildings, Renewable Energy, and Socioeconomic Advancement and Empowerment since the bond's issuance.
These categories align with the Sustainable Development Goals (SDGs) adopted by the United Nations in 2015. The report also provides an overview of the estimated environmental and social impacts of the assets, ranging from 268,700 megawatts of solar power generation to 18,064 patients gaining access to quality healthcare, wherever feasible.
Although the Framework allows for net proceeds to be assigned to investments or financings of Eligible Sustainability Assets completed up to 36 months before issuing a Sustainability Bond, 88% of the investments were new investments.
Aflac Incorporated President and Chief Operating Officer Frederick J. Crawford said: "In today's environment, there is a demand from both customers and investors to balance purpose and profit like never before, and that is what we are doing. Call it corporate social responsibility; environmental, social and governance; or just doing the right thing.
"At Aflac, we believe that helping our stakeholders and the people in our communities have a better quality of life while being mindful of environmental impacts, is not only the right thing to do but that it also makes good business sense and gives people a greater desire to be affiliated with of our company. As we strive to deliver value to the people who depend upon us, we will continue to identify ways to advance the approach that is known as The Aflac Way."
Investors can obtain additional information about Aflac Incorporated's dedication to environmental, social, and governance (ESG) and social responsibility, as well as its 2022 Task Force on Climate-related Financial Disclosures (TCFD) Report, by visiting investors.aflac.com and clicking on "Sustainability."