Assurant Sets GHG Reduction Targets

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by KnowESG,

Assurant, Inc.

screenshot-2022-08-22-154152

Assurant, Inc., a leading global business services company that supports, protects, and connects major consumer purchases, has said it wants to cut greenhouse gas (GHG) emissions by 40 per cent by 2030.

The goal, which is in line with the Paris Agreement and the Science-based Targets initiative (SBTi), was set as part of the company's environmental, social, and governance (ESG) guiding principles to ensure that its facilities around the world follow sustainable practices.

Assurant's president and CEO, Keith Demmings, said, "Our new climate goal shows that we are still committed to incorporating the effects of climate change into how we run our business. With global operations in 21 countries that serve the mobile, auto, and home markets, we want to make a positive impact on all of our stakeholders by setting ambitious goals to reduce our impact on the environment. Our ongoing real estate consolidation strategy will help support this objective, as well as the implementation of energy-saving measures at our facilities and, eventually, renewable energy generation.”

Assurant's goal is to cut Scope 1 and Scope 2 emissions by 40% by 2030 from a 2021 base year. In addition, the company is working to improve its emissions reporting. In 2021, Assurant began Scope 3 reporting, which includes areas such as the investment portfolio, acquired goods and services, and use of sold products, which is specific to its mobile business, which repairs and refurbishes devices.

Assurant also says that it has kept its "B" CDP score for the fifth year in a row by being open about how the company impacts the environment and what it is doing about it. CDP is a global non-profit that runs the best platform for sharing information about the environment in the world. In its most recent CDP report, Assurant reaffirmed its climate-related actions and said that in 2021, the company saw a 10 per cent drop in Scope 2 compared to the previous year, which was mostly due to a decrease in U.S. energy consumption.

The company also talked about the creation of the Assurant Responsible Investing Commitment, which says how the company wants to use ESG factors and screenings in investment decisions and gives important examples of how sustainability is being built into products and services, especially in the mobile, auto, and home businesses.

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Source: Assurant

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