What You Should Know

• The Hartford is committed to fighting climate change with an investment to reduce greenhouse gas emissions
• The investment will be used to be more energy efficient across business operations
• The Hartford is the first property and casualty insurance company to sign onto the UN Global Compact

The Hartford is committing $2.5 billion over the next five years to tackle climate change — including investing in clean energy, supporting improved environmental regulations, and promoting sustainability through reinsurance programs.

This announcement comes on the heels of a December statement by The Hartford, which stated it expected to withdraw from all tar-sands investments by December 31st, 2021, two years ahead of schedule. These initiatives are expected to reduce greenhouse gas (GHG) emissions by 2.1%.

"As a 211-year-old insurer and asset manager, we view the transition to a greener society as a business imperative, and we are doing our part," The Hartford CEO and Chairman Christopher Swift said in a statement.

Swift continues, "We are demonstrating our environmental commitment through our actions across the business, ranging from insurance solutions that encourage sustainable construction to investments by the company in renewable energy. We are proud of our progress and remain determined to use our resources responsibly to address the challenge of climate change."

The Hartford Climate Change Priorities

The corporation's climate priority also states that it will continue to reduce GHG emissions by promoting energy efficiency across its facilities, reducing vehicle miles traveled, and encouraging sustainable construction. Additionally, it will improve water consumption efficiency in its operations, prevent waste generation, and increase recycling rates for its facilities and products.

Swift noted that The Hartford is pioneering innovative reinsurance products designed to help individuals, communities, and businesses adapt their exposure to climate risks.

These include programs through which individuals can insure their homes against damage caused by extreme weather events or if they are displaced from their homes due to climate effects, protections for businesses at risk of location disruption by flooding, third-party coverage to help governments, and nonprofits finance backup facilities.

The Hartford climate change initiative is also committed to measuring and monitoring carbon emissions by supporting the newly established Carbon Neutrality Initiative.

This commitment builds upon The Hartford's 2015 announcement that it would align its business, investments, and philanthropy to help limit the rise in global average temperature to well below 2 degrees Celsius.

The Hartford Climate Change Partnership With United Nations Global Compact

At the same time, The corporation stated that it's the first property & casualty insurer to sign onto the United Nations (UN) Global Compact, the world's largest corporate sustainability initiative.

The Global Compact brings together companies and other stakeholders worldwide to support universal principles on human rights, labor, anti-corruption, and the environment. The corporation will amplify its efforts through the UN's Sustainable Development Goals (SDGs).

The Hartford ranks highly among its property & casualty peers for sustainability efforts. It has been recognized on Forbes and JUST Capital's list of America's Most "JUST" Companies, which ranks companies based on just business practices, which vary by industry, from labor practices to environmental responsibility and philanthropy and community service. It was also one of the 2019 and 2020 Best Workplaces for Diversity, as ranked by Fortune magazine.

Additionally, the majority of customers rated the company highly in The Hartford reviews on Clearsurance.com. In fact, 83% of reviewers would recommend the company to a friend.