ESG Governance Structure

It is important that all parts of our company feel invested in and accountable for AIG’s sustainability agenda. The Nominating and Corporate Governance Committee (NCGC) of the AIG Board of Directors oversees and reports to the full Board of Directors as necessary with respect to sustainability/ESG matters. The Risk and Capital Committee (RCC) of the AIG Board of Directors also assists the Board of Directors in overseeing and reviewing climate-related risks. The AIG Board of Directors may also receive direct reports on sustainability matters—including climate-related issues facing the company—as needed. AIG’s Executive Vice President, Global Head of Strategy and ESG and our Chief Sustainability Officer are responsible for leading the development and implementation of AIG’s company-wide sustainability strategy and providing regular updates to the NCGC.

The RCC oversees and reviews information regarding AIG’s ERM practices. The RCC also assists the Board in its oversight of AIG’s investment policies. The RCC’s responsibilities include reviewing policies, procedures and practices employed to manage all of AIG’s key risks (e.g., liquidity, credit, market, operational and insurance) which may be impacted by sustainability-related issues.

Enterprise Risk Management (ERM)

AIG’s ERM function integrates the risk management activities in each of our business units and provides senior management with a consolidated view of AIG’s key risks. It embeds and oversees the risk management of our business processes, which includes identifying, assessing, quantifying, managing, monitoring, reporting and mitigating AIG’s risk exposures. Accountability for the implementation and oversight of AIG risk policies is aligned with the senior leaders and executives within each business or corporate unit, who are responsible for the implementation and oversight of AIG risk policies, aligning risk-taking policies, risk tolerances and risk prioritization within the framework provided by ERM. Corporate and business unit risk committees receive regular reports regarding compliance with AIG risk policies. With respect to ESG and climate risk, ERM is supporting the development and implementation of activities through the identification of emerging risks, monitoring external developments and the potential for risk aggregation and risk accumulation across our underwriting and investments and our own operations. ERM is also supporting the development of our climate risk management and mitigation approaches, in particular where we have local regulatory requirements and expectations to meet across our international businesses. When monitoring and quantifying Insurance Risk aggregation potentials for AIG, sustainability issues are factored into assessments of sources of claim exposure, claim frequency and claim severity.

ESG Leadership

To further demonstrate AIG’s commitment to ESG, in 2022 we created a new executive leadership role, Executive Vice President, Global Head of Strategy & ESG, to focus on proactively identifying strategic opportunities to deliver growth and enhance our strategy to bring about sustainable, positive change in our communities. This position is a member of the Executive Leadership Team and is a direct report to our Chairman & Chief Executive Officer. The Chief Sustainability Officer reports to this new executive. 

To drive integration and advancement of sustainability initiatives across the company, cross-functional teams and working groups have been established consisting of representatives from the sustainability office and every major business unit and functional area. The sustainability office is responsible for driving cooperation and alignment among these working groups.

ESG Investments Task Force

Aligns efforts across all investment functions by sharing education, research and data, as well as creating working principles and assessing ESG factors

Net Zero  + Working Group

Aligns efforts across global operations to develop a net zero emissions roadmap

Sustainability + Integration Team

Drives sustainability initiatives within various businesses and corporate functions, as well as influences and mobilizes the execution of AIG’s sustainability strategy across the organization

International Sustainability  + Working Group 

Supports regions outside the U.S. to advance sustainability initiatives and address sustainability requirements

Employee Sustainability + Network

Provides an opportunity for employees to get involved in sustainability initiatives on more local, grassroots level, while also helping advance AIG’s sustainability agenda