CSAA outlines carbon reduction and climate commitments in ESG Report
CSAA Insurance Group in California announced a commitment to achieving a 50% reduction in carbon emissions and carbon neutrality by 2025 on the heels of the release of its 2021 Environmental, Social and Governance report.
The report details progress across existing programs and announces new initiatives, including renewable energy investments; ongoing commitments to equity, inclusion and belonging; and a Community Investments Program that funds development initiatives in low-income communities.
CSAA Insurance Group undertook actions to become a “green” company more than a decade ago by managing the real estate portfolio to reduce waste, minimizing water use, and conserving electricity, according to the company.
New environmental commitments include achieving a 50% reduction in carbon emissions and carbon neutrality by 2025.
CSAA Insurance Group in 2021 began to consider its governance with the lens of TCFD (Task Force on Climate-Related Financial Disclosures, developed by The Financial Stability Board) reporting, which looks at how the company is preparing for climate change impacts to its business and policyholders.
“We want to lead by example and respond to the climate crisis with a sense of urgency,” Tom Troy, president and CEO at CSAA Insurance Group, said in a statement. “Our employees, our customers and the communities we serve are being impacted, as they experience more severe weather and the increased severity and frequency of wildfires. It is an ambitious target, and we have put in place tangible milestones and actions that we believe will get us there.”
CSAA Insurance Group’s ESG reports will continue to expand the framework for setting and meeting definitive goals, analyzing results, and ensuring that the company remains a responsible steward for business and the environment.
CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners and other personal lines of insurance to AAA Members through AAA clubs in 23 states and the District of Columbia.
Source: Insurance Journal, CSAA in California Outlines Carbon Reduction and Climate Commitments in ESG Report (insurancejournal.com).