Reinsurance Group of America Publishes Inaugural ESG Report
Reinsurance Group of America, a leading global life and health reinsurer, announced the launch of its inaugural ESG report. The report from RGA reflects the company’s long-standing and growing commitment to sustainability, ethical governance, community support, and diversity, equity, and inclusion.
“As a life and health reinsurance company, RGA is in a long-term business with a long-term view, and sustainability is fundamental to our success,” said Anna Manning, President and Chief Executive Officer, RGA. “Building on our nearly 50-year legacy of responsible business practices, ESG policies and procedures have been incorporated into our enterprise strategy, guiding how we operate and conduct business.”
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The effective management of ESG-related risks and opportunities creates value for RGA’s clients, employees, stakeholders, and the communities in which RGA operates. Incorporated in the report are key sustainability goals, as well as the company’s plans to track and measure progress towards those goals. Key highlights include:
- Purpose-Driven Innovation: In partnership with clients around the world, RGA focused efforts on its purpose – to make financial protection accessible to all – by developing new products and solutions that improve affordability and customer value.
- Responsible Business Practices: RGA continued its long commitment to sound corporate governance and embedded ESG factors into the company’s compensation structure and Enterprise Risk Management program.
- Sustainable Operations: In 2021, RGA pledged to make Scope 1 and Scope 2 emissions net zero by the end of 2026.
- Sustainable Investments: RGA established carbon intensity reduction targets for its public corporate bond portfolio and committed to increasing its investments in green and social bonds.
- Fostering a Culture of Diversity, Equity, and Inclusion: RGA continued its commitment to pay equity and set aspirations for diverse representation in hiring, recruitment, and promotion.
- Social and Community Investment: RGA has expanded its support for education, financial security, health, and longevity through the RGA Foundation and The Longer Life Foundation and also encourages and supports employee philanthropy and volunteerism through matching gift and volunteer time off programs.
“RGA recognizes that doing the right thing today ensures a better tomorrow for everyone,” said Matt Blakely, Vice President, Corporate Social Responsibility and Sustainability, RGA. “While this is the first stand-alone ESG Report issued by RGA, the company’s commitment to social investment, environmental protections, and responsible business practices has been part of the company culture since the beginning, and as a values-based and purpose-driven organization, we intend to build on this progress in the years ahead.”
Source: Reinsurance Group of America