Travelers Publishes Its 2019 Sustainability Report
23 Junio 2020 - 8:00AM
Business Wire
Report highlights the integration of
environmental, social and governance factors into the company’s
business strategy
The Travelers Companies, Inc. (NYSE: TRV) today published its
2019 Sustainability Report, outlining the company’s multifaceted
strategy for creating shareholder value over time.
“We take a holistic approach to sustained value creation,
understanding that our commitments to our customers, communities
and employees – what we call the Travelers Promise – all play a
role in our long-term success,” said Yafit Cohn, Chief
Sustainability Officer at Travelers. “Sustainability has been
ingrained in our company for decades, and our report demonstrates
how economic, environmental, social and governance practices are
inextricably linked with our business strategy.”
The report provides an in-depth review of the 16 topics that
Travelers has identified as its key drivers of sustained value:
Business Strategy & Competitive Advantages; Capital & Risk
Management; Climate Strategy; Community; Customer Experience; Data
Privacy & Cybersecurity; Disaster Preparedness & Response;
Diversity & Inclusion; Eco-Efficient Operations; Ethics &
Values; Governance Practices; Human Capital Management; Innovation;
Investment Management; Public Policy; and Safety & Health.
Performance highlights from the company’s 2019 report include
the following:
Climate Strategy
- The company grew gross written premiums in its Global Renewable
Energy Practice by nearly 30% year over year.
Community
- The company contributed more than $24 million in philanthropic
support to help improve academic and career success, develop
thriving neighborhoods and create culturally enriched communities,
bringing total contributions for the past decade to more than $220
million.
- Employees collectively logged more than 130,000 volunteer
hours, bringing the total for the past decade to more than 825,000
hours.
Customer Experience
- The company resolved nearly 95% of property claims arising out
of catastrophes within 30 days.
Diversity & Inclusion
- Women and people of color represented approximately 55% and 25%
of the company’s U.S. workforce, respectively.
- In each of the last 10 years, Travelers has increased the
percentage of women and people of color in its management-level
positions.
- The company spent more than $100 million with Tier 1 and Tier 2
diverse suppliers.
Eco-Efficient Operations
- The company reduced its Scope 1 and Scope 2 emissions by 39%,
achieving 97% of its goal to reduce its overall emissions by 40% by
the end of 2020.
Human Capital Management
- The company’s voluntary employee turnover rate was 7.4%.
Investment Management
- The company invested $5.2 billion in municipal bonds that
support water and sewer projects, $8.8 billion in K-12 education,
$3.8 billion in higher education and more than $1.2 billion in
fixed income securities classified as “green bonds” by
Bloomberg.
Cohn added, “The initiatives featured in our report are great
examples of the shared value we create for our customers,
communities and employees, on the one hand, and our shareholders,
on the other, by delivering on the Travelers Promise.”
Sustainability initiatives in the report include:
- Using satellite and geospatial technology to view disaster
areas. The Travelers Catastrophe Map Viewer provides agents and
brokers with searchable, high-resolution before-and-after images of
areas affected by disasters. Images are often available within one
or two days after a catastrophic event, enabling the company’s
distribution partners to quickly notify customers about the
condition of their property and begin the claim process if
needed.
- Using data to protect customers. The company introduced
a Wildfire Defense Services endorsement for California home and
landlord policies – providing an added layer of wildfire protection
for customers at no additional cost. Travelers began working with
Wildfire Defense Services, a firm that specializes in wildfire
protection, to help provide loss prevention services that
supplement the efforts of local firefighters and other first
responders who are deployed before, during and after active
wildfires.
- Offering a windstorm mitigation discount. In many
states, the company’s newest homeowners program offers a discount
of up to 18% on hurricane premium for homes built to the Insurance
Institute for Business & Home Safety FORTIFIED Gold™
Standard.
- Committing to plant up to one million trees to aid
reforestation efforts. The company partnered with American
Forests, the country’s oldest nonprofit conservation group, to fund
the planting of up to one million trees – one for each Personal
Insurance billing account converted to paperless billing.
- Supporting diverse entrepreneurs. The company initiated
a partnership with Village Capital, an organization that supports
seed-stage startups, to provide investment-readiness education to
six diverse entrepreneurial support organizations focused on social
enterprise, innovation and access to capital.
- Focusing on life balance and mental health. The company
launched an internal campaign to help remove the stigma around
mental health by sharing voluntary employee testimonials and
enhancing related benefits, including providing five free sessions
of professional counseling.
The company’s sustainability reporting was guided by the input
of key stakeholders and multiple sustainability disclosure
frameworks. Travelers is a leader among domestic property casualty
insurance companies in publishing reports responsive to the
Sustainability Accounting Standards Board (SASB) standards for the
insurance industry and the recommendations of the Task Force on
Climate-related Financial Disclosures (TCFD). To learn more, visit
sustainability.travelers.com.
About Travelers The Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto, home
and business. A component of the Dow Jones Industrial Average,
Travelers has approximately 30,000 employees and generated revenues
of approximately $32 billion in 2019. For more information, visit
www.travelers.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200623005513/en/
Media: Courtney Garro, 860.277.8719
cgarro@travelers.com
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