Commercial, Energy Efficiency, GHG Emissions, Sourcing Renewables - July 2, 2021
AIG Cut Emissions 49% Between 2019 and 2020
AIG announced in its new sustainability report that it is committed to being net-zero in its own operations by 2050 and from 2019 to 2020 cut emissions 49%.
The insurance company had invested $3.2 billion in private wind, solar, geothermal and hydroelectric generation, solar PPAs and PACE loans by the end of 2020, and more than 1 million square feet of AIG’s office spaces are LEED certified. The company used its report as an opportunity to disclose all of its climate-related risks throughout its investment activities.
AIG’s emissions reductions included a 64% drop in Scope 1, 24% drop in Scope 2 and 97% drop in Scope 3 emissions (mostly related to business travel as business shifted to remote work). The company also reduced its real estate footprint by 11%, causing a 24% cut in electricity emissions.
“AIG strives to be a catalyst for positive change as it relates to sustainability advancements, renewable energy expansion, improved equity for all people and more,” CEO Peter Zaffino said in a statement. “We plan to continue to invest in education and guidance toward logical and sensible paths forward for the clients and industries we serve. Our work is far from complete; however, I am pleased with the actions AIG has taken to generate momentum toward positive and meaningful outcomes.”