Launches Forest Project with Community Chest of Korea
AIA Group announced on Jan. 11 its commitment to achieve net-zero greenhouse gas (GHG) emissions by 2050.
Peter Chung, CEO of AIA Korea, said, “AIA Group’s commitment to net-zero greenhouse gas emissions by 2050 is an important commitment for AIA Korea as well. It adds further meaning to our purpose of helping people live healthier, longer, better lives and help address climate change and continue to sustainable and healthier development for Asia. We want to do our part to help Korea reduce greenhouse gas emissions by 37% by 2030 as a signatory of the Paris Agreement.”
Locally, AIA Korea announced the launch of the ‘Healthier, Longer, Better Lives (HLBL) Forest Project’ in partnership with the Community Chest of Korea. On Jan. 10, Hwang Ji-ye, CMO of AIA Korea and Kim Jin-kon, secretary general of the Seoul Branch for the Community Chest of Korea met to celebrate AIA Korea’s commitment for this project. Starting from this year, AIA Korea plans to continue planting trees and creating urban gardens and forests in an effort to help achieve net-zero emissions.
During the ceremony, Hwang said, “AIA Korea is pleased to donate KRW 100 million to plant new trees this year. Trees are a practical and beautiful way to reduce greenhouse gases. An important part of our mission to help customers live Healthier, Longer, Better Lives is to have a clean and healthy environment for Koreans today and in the future.”
As part of AIA’s net-zero commitment, AIA has completed the entire divestment of directly-managed listed equity and fixed income exposure to coal mining and coal-fired power businesses, seven years ahead of schedule. AIA has also committed to the Science Based Targets initiative (SBTi), a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. These five-to-ten-year targets will be reviewed every five years.
Internally, AIA has newly organized the Climate and Net-Zero Steering Committee, an organization directly under the group chief executive and president, Lee Yuan Siong, in order to realize more systematic goals. The organization will manage and supervise the current status of carbon emissions related to the operation of the company in the future. In addition, AIA’s annual ESG Report will include updates on our progress towards net-zero to ensure accountability and transparency.