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AIA achieves five-pillar ESG strategy in 2023

The company was able to invest in ESG bonds, worth $6.3b.

AIA Group's latest Environmental, Social, and Governance (ESG) Report 2023 titled "Sustaining Healthier, Longer, Better Lives," showed various investments and initiatives the company committed in 2023 – which was in line with their five-pillar strategy.

One of the notable achievements in 2023 was AIA's publication of its inaugural Climate Transition Plan, making it the first pan-Asian life and health insurer to have its near-term targets validated by the Science Based Targets initiative (SBTi).

Lee Yuan Siong, AIA Group Chief Executive and President, emphasised the company's commitment to delivering positive impact in communities across the Asia Pacific region, recognizing the vital role healthy communities play in sustainable economic and social development. 

He highlighted the substantial progress made towards ESG commitments, particularly in climate action, aligning with AIA's Purpose to help people live Healthier, Longer, Better Lives.

ALSO READ: AIA records double-digit profit growth in 2023

Under the Health and Wellness pillar, AIA aims to enhance the well-being of communities by expanding access to quality care and promoting financial inclusion. In 2023, AIA provided financial protection to more than 42 million individual policyholders and over 18 million participants in group insurance schemes, with benefits and claims totalling $21b.

Through Sustainable Investment, AIA creates long-term value by investing in companies committed to sustainable outcomes. The company invested $6.3b in ESG bonds and made it mandatory for in-scope investment professionals to attain the CFA Institute’s Certificate in ESG Investing.

The Sustainable Operations pillar focuses on improving environmental performance and integrating ESG considerations into sourcing decisions. AIA commits to certifying all new buildings and redevelopment projects with industry-recognized green building standards.

In the People and Culture pillar, AIA empowers its employees by ensuring equitable processes for employment and career progression within an inclusive and supportive culture. The company has consistently ranked in the top quartile of Gallup’s global finance and insurance industry benchmark for seven consecutive years.

Effective Governance ensures that AIA operates at the highest standards in stakeholder engagement and risk management. AIA was recognized as a top-rated performer by Sustainalytics for ESG.

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