AIA Group releases climate action plan, target net-zero by 2050

It said it’s the first pan-Asian life and health insurer validated by the Science Based Targets Initiative (SBTi). 

AIA Group has published its first Climate Transition Plan, making it the first pan-Asian life and health insurer to have its near-term science-based emissions reduction targets validated by the Science Based Targets Initiative (SBTi). 

The plan outlines AIA’s near-term science-based targets and the strategies to achieve them, with a focus on reducing emissions in its direct operations and investment portfolio. 

AIA has committed to achieving net-zero emissions by 2050.

ALSO READ: AIA Singapore announces leadership appointments

The plan also mentions the frameworks and initiatives it refers to, such as the Transition Plan Taskforce (TPT), Glasgow Financial Alliance for Net Zero (GFANZ), and the CDP (formerly Carbon Disclosure Project).2

Achieving the targets and net-zero commitment outlined in this plan hinges on external factors such as robust country-level and private-sector commitments aligned with the Paris Agreement, development of region-specific decarbonisation roadmaps, government incentives, financing for low-carbon activities, regulatory push for environmental disclosures, availability of accurate climate data, adoption of low-carbon technologies, infrastructure development, and a shift in consumer behaviour.