Sustainability Report 2020
Our Sustainability Report 2020 describes our Group Sustainability Strategy and reviews the actions we have taken to implement it.
The report describes the key elements of our Group Sustainability Strategy in detail: its core mission, the 2030 Sustainability Ambitions, three principles and the full set of Sustainability Topics we address. In an extended overview it lists the targets we have set for the nine topics, links to the UN Sustainable Development Goals and the progress we achieved in the reporting year.
The three commitments we have made to net zero emissions figure prominently in the report (in our underwriting by 2050, in our asset management by 2050 and in our own operations by 2030).
To make progress towards meeting these commitments, we took several important steps in 2020:
- Strengthened our exit strategy for thermal coal in our treaty business
- Started to implement our sharpened oil and gas policy
- Set a target to increase our renewable and social infrastructure portfolio by USD 750 million
- Implemented a newly developed Engagement Framework for our active listed equities portfolio
- Introduced a triple-digit real internal carbon levy
Further highlights include substantial improvements to our sustainability governance framework, including the introduction of sustainability-related KPIs, the growing significance of biodiversity and ecosystem services as a material topic, and our new Group People Strategy.
Finally, in this special year marked by the COVID-19 pandemic, our Sustainability Report also describes what we have done to deal with the impact of this global crisis.
Read the full online report here.