AIA Group Limited has published its Environmental, Social and Governance (ESG) Report 2023, "Sustaining Healthier, Longer, Better Lives." The report highlights the strong progress of AIA's five-pillar ESG Strategy.
Among the significant achievements in 2023 AIA published its first Climate Transition Plan and became the first pan-Asian life and health insurer to have its near-term targets validated by the Science Based Targets initiative (SBTi).
Lee Yuan Siong, AIA Group Chief Executive and President, said, “We believe that healthy communities form the bedrock of sustainable economic and social development. As the largest pan-Asian life and health insurer we have a responsibility to deliver positive impact in communities across Asia Pacific. We have made substantial progress towards our ESG commitments, particularly on climate action. This enables us to deliver on our Purpose to help people live Healthier, Longer, Better Lives.”
Under the Health and Wellness pillar, AIA seeks to improve the wellbeing of communities across Asia by expanding access to quality care and championing financial inclusion. AIA provided financial protection to the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes, with US$21 billion paid benefits and claims.
Through Sustainable Investment, AIA delivers long-term value by investing in companies that commit to sustainable outcomes. AIA invested US$6.3 billion in ESG bonds and made it a requirement for in-scope investment professionals to attain the CFA Institute’s Certificate in ESG Investing.
The Sustainable Operations pillar improves the environmental performance of operations and incorporate ESG considerations into sourcing decisions. All new buildings and redevelopment projects will be certified with industry-recognised green building standards.
As part of the People and Culture pillar, AIA empowers its people to succeed by ensuring equitable and fair processes for employment and progression in an inclusive and supportive culture. AIA is in the top quartile of Gallup’s global finance and insurance industry benchmark for the seventh consecutive year.
The Effective Governance pillar ensures AIA continues to operate at the highest standards in stakeholder engagement and risk management. AIA was again named a top-rated performer by Sustainalytics for ESG.
Amita Chaudhury, AIA Group Head of Sustainability, said, “2023 was marked by key milestones in meeting our net-zero commitment, including the publication of our first Climate Transition Plan. As we accelerate our ESG Strategy across all pillars, we will continue to create value for our stakeholders and contribute to healthier communities for a sustainable future.”