Allstate Corporation announced a commitment to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030.
In addition, the personal lines giant has set 2025 as the target year for achieving a net zero investment portfolio.
These actions are essential to managing climate risk and fulfilling Allstate’s purpose of protecting customers and generating attractive returns for shareholders, the carrier said in a statement.
“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, Allstate’s chair, president and chief executive officer. “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,” he stated.
The company said 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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