Allstate Corporation announces a net zero emission commitment
NORTHBROOK, Ill., December 23, 2022–(BUSINESS WIRE)–The Allstate Corporation (NYSE: ALL), one of the nation’s largest publicly held personal lines insurers, today announced it has committed to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030. It will also establish a goal year to achieve a net-zero investment portfolio by 2025. These actions are essential to managing climate risk and fulfilling Allstate’s purpose of protecting customers and generating attractive returns for shareholders.
Allstate’s pledge means it will exceed by 20 years the 2050 net zero target set in the Paris climate accords. It also reflects Allstate’s decades-long history of integrating strong environmental principles and practices into its business strategy while building community resilience and helping customers prepare for and recover from climate-related catastrophes.
“Allstate has worked for 25 years to improve resilience to increased severe storms caused by global warming through preparation, prevention, and risk mitigation,” stated Tom Wilson (chair, president and CEO of Allstate Corporation). “The negative impacts of severe weather events such as tornadoes, hurricanes, wildfires and tornadoes on society, customers, shareholders, etc. have increased.” As part of our short-term remediation plans, we have made net zero emissions commitments that are reasonable and tangible.
The company will accomplish its 2030 net zero goals by reducing the emissions and square footage of Allstate’s offices, purchasing renewable energy where possible, working to reduce emissions of suppliers and removing the impact of remaining real estate through the limited purchase of credible carbon offsets where available.
Allstate’s responsible investing strategy already includes a dedicated impact portfolio that supports climate change mitigation and adaptation, targeting at least $375 million in climate-related commitments between 2021 and 2022.
The company will make public progress toward its emission goals by publishing its annual sustainability reports, which can be found at Allstate’s sustainability website. Details on Allstate’s climate strategy can be found in its 2021 Sustainability Report.
About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with a circle of protection including cars, homes, electronic devices, benefits and identity theft. Allstate products are available via a wide distribution network that includes independent agents, Allstate agents, major retailers, and online. Allstate is widely known for the slogan “You’re in Good Hands with Allstate.”
Financial information, including announcements regarding The Allstate Corporation, are routinely posted to this site. www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward looking statements” that predict results based upon our assumptions, estimates, and plans that are subjected to uncertainty. These statements are subject the safe-harbor provisions of The Private Securities Litigation Reform Act of 1996. Forward-looking statements are not historical or current and can be identified by words such as “plans,” “seeks,” “expects,” and “should,” and “anticipates,” and “estimates,” and “intends,” and similar words. These statements are based upon reasonable assumptions, plans, and estimates. Actual results may differ from the statements made in forward-looking. However, these statements could be affected by changes in actual events or other risks and uncertainties. Our filings with U.S. Securities and Exchange Commission include the “Risk Factors” section of our most recent annual Report on Form 10-K. This section contains factors that could cause actual results not to be as stated or implied by the forward-looking statement. Forward-looking statements only speak as of the date made. We are not obligated to modify or revise any forward looking statement.
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