RGA has incorporated environmental, social, and governance (ESG) issues into our enterprise strategy and business activities. We foster inclusion and compassion within our organization, promote sustainable business practices, invest responsibly, and adhere to sound corporate governance principles.
RGA’s commitment to environmental sustainability took major strides forward in 2021. Most significantly, RGA pledged to make our Scope 1 and Scope 2 operations net zero in greenhouse gas emissions by the end of 2026. We also initiated the process to produce the company’s first sustainability report in alignment with the Task Force on Climate-related Financial Disclosures, scheduled to be published in 2022. As a member of the Geneva Association Task Force on Climate Change Risk Assessment, RGA is dedicated to uniting the insurance industry around this important issue.
Support from RGA and the RGA Foundation focuses on the education, financial security, health, and longevity of people in the communities where we operate. This includes long-standing support of initiatives such as the Longer Life Foundation, an RGA collaboration with Washington University in St. Louis that launched in 1998, to which RGA has contributed grants to fund 138 research projects exploring ways people can lead longer, healthier lives.
RGA fosters inclusion and compassion within our organization, promotes sustainable business practices, invests responsibly, and adheres to sound corporate governance principles.
RGA’s approach to ESG centers on addressing global issues through local solutions and meeting urgent needs as they arise. When the COVID-19 delta variant was taking an especially devastating toll on the people of India in June 2021, the RGA Foundation swiftly directed funding to help support local relief efforts. Later in the year, after more than 30 tornadoes tore across communities in several U.S. states, the RGA Foundation provided aid to those affected through the American Red Cross.
As a reinsurer, RGA understands that protecting customer data and avoiding unfair discrimination in our use of analytics are important ESG considerations. In 2021, on Global Ethics Day, we launched our Data and Analytics Ethical Framework, a set of enterprise-wide guiding principles for data utilization at RGA. We also established the Data Ethics Oversight Board, whose purpose is to ensure that RGA carries out responsible and ethical data handling decisions throughout the organization.
We support the generosity and community engagement of our employees through matching gift contributions, company-coordinated giving programs, and paid time off for donating time to charitable causes. In 2021, we launched the RGA Cares website, which enables employees to make contributions and request matching funds, find and create volunteer projects, and manage requests for charitable donations. As employees stepped up to support the communities they care about in 2021, the number of employees using the RGA Matching Gift program increased by 38% and those using our company-wide volunteer time-off policy increased by 40%.
Here are just a few examples among many of employee community involvement around the globe in 2021:
- Combined with RGA’s company match, employees in the U.S. raised more than $1 million to support local charities through the United Way.
- For its charity partner of the year, the U.K. office chose Young Lives vs. Cancer, which serves around 7,000 children with a cancer diagnosis and their families each year.
- With COVID-19 limiting in-person interaction, RGA Australia’s support of the Raise mentorship program for disadvantaged youth took the form of a fitness challenge to raise funds and awareness.
- The RGA Mexico office teamed with a local foundation to purchase new shoes for children with cancer through the charity Aqui Nadie se Rinde.
- RGA’s Malaysia office contributed to COVID-19 relief efforts by funding infrastructure upgrades at a local hospital and supporting an organization working to reduce the increased risk of hunger in underprivileged communities during the pandemic.
RGA made great progress in expanding ESG effort throughout the enterprise in 2021. As a values-based and purpose-driven organization, we intend to build on this progress in the years ahead.