AIG Releases Second Environmental, Social and Governance (ESG) Report
American International Group today released its 2021 Environmental, Social and Governance (ESG) Report.
The 2021 ESG Report builds upon AIG’s inaugural ESG Report published last year, which provided the company’s first holistic view of its efforts to support a more sustainable, equitable and prosperous future. Guided by AIG’s new Purpose and Values Statement, the Report’s theme is Reimagining What AIG Can Do, and explores the positive outcomes AIG can deliver to colleagues, clients, distribution partners, shareholders, communities and many other stakeholders.
AIG Chairman & Chief Executive Officer, Peter Zaffino said: “We are reimagining how to leverage AIG’s expertise and differentiators in ways that improve and sustain communities for generations to come. Our high standard of transparency reinforces our commitment to take ownership when it comes to AIG’s ESG journey.”
AIG Executive Vice President, Global Head of Strategy & ESG, Constance Hunter said: “Each component of ESG is intrinsic to AIG’s business strategy and long-term growth. Whether it is the magnitude and uncertainty around the transition to a net zero carbon future, the measurable economic benefits of greater social inclusion in company results or the stronger reputations of companies with exceptional governance; ESG factors are critical to the financial outcomes of businesses and the socioeconomic outcomes of the societies in which they operate.”
The Report represents AIG’s second year of aligning with SASB and GRI disclosure guidelines, and fourth year of aligning with TCFD.
The disclosures in AIG’s 2021 ESG Report were preceded by thoughtful consideration about how to pair reimagining with action. Examples of the Report’s transparency on AIG’s latest ESG progress include:
- Expanded climate disclosure and details on AIG’s net zero greenhouse gas commitments across its operations, underwriting and investments. The Report’s analysis now includes broader third-party emissions and estimates underwriting emissions globally. The Report also details progress on the AIG’s operational commitment made in 2021.
- Enhanced diversity data including a global view on gender representation in addition to ongoing data on ethnic representation in the U.S. In 2021, 52% of AIG job placements globally were female, 45% of U.S. placements were ethnically diverse and 36% of open executive leadership positions in the U.S. were filled with ethnically diverse talent.
- Added disclosure on talent acquisition and development. Although placements increased by 20%, AIG’s time-to-fill average decreased by seven days when compared to 2019.
- Disclosure regarding AIG’s continued investment in corporate citizenship, including over $25 million in 2021 contributions to non-profit organizations through 2:1 matching of colleague donations and other funding, the establishment of the AIG Compassionate Colleagues Fund, which aids colleagues facing financial hardships, and the expansion of AIG’s long-standing paid Volunteer Time Off program from 16 hours per colleague in 2021 to 24 hours per colleague in 2022.