AIG PUBLISHES ITS FIRST ESG REPORT

American International Group (AIG) has released its first environmental, social and governance (ESG) report. The report details the New York-based insurer’s progress toward a “more sustainable, equitable and prosperous future for its stakeholders”. AIG recently committed to reducing its operational carbon emissions to net zero by 2050 and is currently reviewing the carbon exposure of its investment and underwriting portfolios. According to the report, gross premiums written for AIG’s coal portfolio have decreased 14% since 2018 to $85.9m, in alignment with “market forces” that have impacted the coal industry in general. Peter Zaffino, AIG’s president and chief executive officer, said: “I am pleased with the actions AIG has taken and the transparent, steady progress we are making in our ESG efforts; however, our work is far from complete.”