Insurance provider Allstate announced a new commitment to achieve net zero emissions for its direct, indirect and value-chain greenhouse gas emissions by 2030.
The company also stated that by 2025 it will set a target year for the achievement of a net zero investment portfolio.
According to a statement by Allstate announcing its new commitments, the company described the actions as “essential to managing climate risk,” and to fulfilling its purpose of “protecting customers and generating attractive returns for shareholders.”
The company outlined actions it will take in order to reach its 2030 net zero goals, including reducing the emissions and square footage of its offices, purchasing renewable energy where possible, and working to reduce emissions of suppliers. Additionally, Allstate said that it will address the impact of remaining real estate through the limited purchase of credible carbon offsets where available.
Tom Wilson, Chair, President and CEO of The Allstate Corporation, said:
“For 25 years, Allstate has worked to strengthen resilience to increased severe weather caused by global warming through prevention, preparedness and risk reduction. 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.”