AIA pledges net zero GHG emissions by 2050

The firm’s emissions will be overseen by a climate committee.

 AIA Group Limited has announced its commitment to achieve net zero greenhouse gas emissions by 2050.

According to a release, AIA will have its operational emissions overseen by a newly formed Climate and Net-Zero Steering Committee headed by Lee Yuan Siong, AIA Group Chief Executive and President. AIA's Group Chief Investment Officer will have direct oversight of the integration of the Company's net-zero commitment into its portfolio engagement process. Progress against our ambitious climate related goals will be regularly reported to the Company's Board of Directors.

AIA also promised to include updates on their net zero progress in their annual ESG report to ensure accountability and transparency. They will also continue to report their progress towards  the UN Principles for Responsible Investment (PRI), the UNEP FI Principles for Sustainable Insurance (PSI), and towards the Task Force on Climate-related Financial Disclosures (TCFD) framework.

"Our commitment to net-zero by 2050 will support the delivery of long-term sustainable value for our customers, our shareholders and our communities. AIA is wholly focused on Asia and, driven by our Purpose of helping people live Healthier, Longer, Better Lives, we have a responsibility to help address climate change and contribute to sustainable and healthier development for Asia,” Lee Yuan Siong AIA group chief executive and president said.

AIA recently completed its divestment from coal mining and coal-fired power seven years ahead of its target.