In early 2022, we expanded our net zero commitments to include reaching net zero GHG emissions in our underwriting and investment portfolios and we also committed to sourcing 100% Renewable Energy for our operations by 2030 or sooner and setting science-based emission reduction targets to meet the goals of the Paris Agreement. This builds on our previous commitment of reducing our global operational (scope 1 and scope 2) emissions to net zero by 2050 or sooner.
Graph 5 below includes emissions that are controlled or owned by AIG (scope 1 and scope 2 emissions) from 2019 to 2021. As we expected, our estimated emissions across the two scopes increased from 2020 to 2021 as the effect of COVID-19 lessened. Nonetheless, total scope 1 and 2 estimated emissions for 2021 remained below pre-pandemic levels. This is in part due to the consolidation of Real Estate spaces. In 2021, AIG consolidated its New York-area office spaces from seven properties to three locations: Downtown New York City, Midtown New York City and Jersey City, New Jersey.
The increase in scope 1 emissions is primarily due to improvements in data coverage and estimation methodologies applied for unknown data.
To meet our net zero commitments, we will need to engage with our clients, suppliers and investees and other stakeholders to understand our decarbonization pathways, collaborate and partner to find and develop solutions.
Table 2 includes AIG’s scope 3 emissions from value chain activities not directly controlled or owned by AIG. The increase in estimated emissions seen in 2021 is primarily due to improvements in data coverage, the inclusion of four additional scope 3 sources, as well as an increase in business air travel as restrictions associated with COVID-19 lessened.
call volume reduction (1.2M calls today)
in-force paper correspondence reduction (12M pieces of outbound paper today)
straight-through transaction increase, eliminating human involvement (15% STP today)
paper billing reduction (30% of customers on eBill today)
newly issued life policies electronically delivered (“eDelivered”) to customers (35% today)
- A 25% switch from animal to plant-based proteins by 2025 and a 40% switch by 2030
- A regenerative agriculture sourcing target of 70% for fresh meat, dairy, fruit and vegetables by 2030
- No air-freighted fruit and vegetables
- 100% diversion of food waste from landfill
- 100% reusable or recyclable packaging by 2023