GlobalData offers a comprehensive analysis of AIA Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on AIA Group‘s ESG performance. GlobalData’s company profile on AIA Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
AIA Group, a leading insurance company in Asia, has set a net-zero target by 2050 to reduce its carbon emissions. The company's greenhouse gas emissions have increased compared to last year. AIA Group's total greenhouse gas emissions for 2022 were 50,606 tonnes of CO2e, compared to 30,626 tonnes of CO2e in 2021. The company has reported its carbon emissions including scope 1, scope 2, and scope 3 emissions which stood at 3,433 tonnes of CO2e, 43,283 tonnes of CO2e and 3,890 tonnes of CO2e respectively. AIA Group's latest filings mentioned the keywords ‘Emissions’ and ' Climate Change’ most number of times in relation to 'Net Zero'.
AIA Group has taken steps to reduce its emissions, including sorting and recycling non-hazardous waste at selected business units. AIA Group has made a commitment to the Science Based Targets initiative (SBTi), a partnership involving the United Nations Global Compact (UNGC), World Wide Fund for Nature (WWF), The World Resources Institute (WRI), and CDP. The SBTi aims to assist companies in establishing ambitious targets for reducing emissions in accordance with the most up-to-date climate science, essential to achieve the objectives set forth in the Paris Agreement. The company has not set any specific targets for energy efficiency, but its greenhouse gas emissions reduction targets inherently reflect an improvement in energy efficiency. AIA Group has also disclosed its water consumption and intensity, as well as its employment-related policies and approaches.
In conclusion, AIA Group has set a net-zero target to reduce its carbon emissions and has specific goals related to scope 1, scope 2, and scope 3 emissions. The company has taken steps to transition to a lower carbon future. In addition, AIA Group is evaluating next steps to align its operational footprint to science-based emissions reduction targets.