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 climate change 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.
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AIA Group, a leading insurance company, has set an ambitious target to achieve net-zero greenhouse gas (GHG) emissions by 2050. The company targets to reduce its carbon emissions and has taken steps to achieving validation of targets by the SBTi by December 2023. AIA recognizes the importance of energy efficiency in achieving its carbon targets. In terms of water consumption, AIA Group consumed 180,312 tonnes of water in 2021, which increased to 390,444 tonnes in 2022. The company acknowledges limitations in reporting water usage in buildings with shared water meters or included in rental costs.
AIA Group has taken steps to reduce its emissions and improve energy efficiency. It also sorts and recycles non-hazardous waste at selected business units. Additionally, AIA Group has implemented practices to protect intellectual property rights and ensure data privacy and security. In 2022, GHG per employee reduced 23% in comparison with 2019, and its total waste generation amounted to 674 tonnes.
In terms of emissions, AIA Group reported greenhouse gas emissions of 1,322 tonnes of CO2e for scope 1, 27,968 tonnes of CO2e for scope 2 (location-based), and 27,968 tonnes of CO2e for scope 2 (market-based) in 2021. These emissions increased to 3,433 tonnes of CO2e for scope 1, 43,283 tonnes of CO2e for scope 2 (location-based), and 43,283 tonnes of CO2e for scope 2 (market-based) in 2022. The company also reported other greenhouse gas emissions of 1,336 tonnes of CO2e for scope 3 in 2021, which increased to 3,890 tonnes of CO2e in 2022. AIA Group aims to reduce its emissions intensity, with a target of 2.0 tonnes of CO2e per employee in 2022.
In conclusion, AIA Group is committed to achieving net-zero targets and reducing its carbon emissions. AIA Group recognizes the importance of energy efficiency in achieving its carbon targets and has implemented various initiatives to improve energy efficiency, manage waste, and protect intellectual property rights. The company's efforts to reduce emissions and improve sustainability align with its commitment to environmental, social, and governance principles.
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