The AIA group announced on January 11 its commitment to achieve zero net greenhouse gas (GHG) emissions by 2050.
Peter Chung, CEO of AIA Korea, said: “The AIA Group’s commitment to reduce net greenhouse gas emissions by 2050 is also an important commitment for AIA Korea. This gives added meaning to our goal of helping people live healthier, longer and better lives and to help fight climate change and pursue sustainable and healthier development for Asia. We want to do our part to help Korea reduce its greenhouse gas emissions by 37% by 2030 as a signatory to the Paris Agreement.
At the local level, AIA Korea announced the launch of the “Healthier, Longer, Better Forestry Project (HLBL)” in partnership with Community Chest of Korea. On January 10, Hwang Ji-ye, CMO of AIA Korea and Kim Jin-kon, Secretary General of Seoul Branch for Community Chest of Korea met to celebrate AIA Korea’s commitment to this project. From this year, AIA Korea plans to continue planting trees and creating urban gardens and forests with the aim of helping to achieve net zero emissions.
During the ceremony, Hwang said, “AIA Korea is pleased to donate KRW 100 million to plant new trees this year. Trees are a practical and beautiful way to reduce greenhouse gases. An important part of our mission to help customers live healthier, longer and better lives is to have a clean and healthy environment for Koreans today and tomorrow.
As part of AIA’s net zero commitment, AIA completed the full divestiture of the directly managed listed equity and fixed income exposure in the coal mining and power generation business, seven years ahead of schedule. The AIA is also committed to the Science Based Targets (SBTi) initiative, a global organization that enables companies to set ambitious emission reduction targets in line with the latest scientific advances in climatology. These five to ten year targets will be reviewed every five years.
Internally, the AIA recently organized the Climate and Net-Zero Steering Committee, an organization reporting directly to the group’s CEO and Chairman, Lee Yuan Siong, to achieve more systematic goals. The organization will manage and oversee the current state of carbon emissions related to the future operation of the business. Additionally, AIA’s annual ESG report will include updates on our progress towards net zero to ensure accountability and transparency.