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The Allstate Corporation Announces a Net Zero Emissions Commitment

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The Allstate Corporation Announces a Net Zero Emissions Commitment

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The Allstate Corporation, one of the nation’s largest publicly held personal lines insurers, announced it has committed to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030. It will also set a target year for achieving a net zero investment portfolio by the end of 2025. These actions are essential to managing climate risk and fulfilling Allstate’s purpose of protecting customers and generating attractive returns for shareholders.

Allstate’s pledge means it will exceed by 20 years the 2050 net zero target set in the Paris climate accords. It also reflects Allstate’s decades-long history of integrating strong environmental principles and practices into its business strategy while building community resilience and helping customers prepare for and recover from climate-related catastrophes.

“For 25 years, Allstate has worked to strengthen resilience to increased severe weather caused by global warming through prevention, preparedness and risk reduction,” said Tom Wilson, Chair, President and CEO of The Allstate Corporation. “As the severity of hurricanes, tornadoes and wildfires has increased, the negative impacts on customers, shareholders and society have also grown. To supplement our short-term remediation initiatives we are making net zero emissions commitments that are tangible and reasonable.”

See related article: ABN AMRO Publishes Climate Strategy and Joins the Net Zero Banking Alliance

The company will accomplish its 2030 net zero goals by reducing the emissions and square footage of Allstate’s offices, purchasing renewable energy where possible, working to reduce emissions of suppliers and removing the impact of remaining real estate through the limited purchase of credible carbon offsets where available.

Allstate’s responsible investing strategy already includes a dedicated impact portfolio that supports climate change mitigation and adaptation, targeting at least $375 million in climate-related commitments between 2021 and 2022.

The company will publicly share progress on emissions goals through its annual sustainability reporting, available at Allstate’s sustainability website. Details on Allstate’s climate strategy can be found in its 2021 Sustainability Report.

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