Assurant Introduces New Sustainability Vision in 2024 Sustainability Report

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Assurant (NYSE: AIZ) has unveiled its 2024 Sustainability Report, outlining its long-term ambitions for a Thriving Society, a Circular Economy, and a Stable Climate.

Key initiatives include enhancing employee engagement, supporting career development, and increasing diverse supplier spend by 15% to $115 million. The company also diverted over 4,200 metric tons of electronic waste and avoided around 1.16 million metric tons of CO2 emissions through its mobile trade-in programs.

Additionally, Assurant protected over 60 million mobile devices and provided vehicle protection for 55 million automobiles, with a focus on hybrid and electric vehicles.

The company's efforts earned a “B” rating from CDP for climate change, and it achieved a 5% reduction in Scope 1 and 2 GHG emissions. The full report is available on Assurant's website.

Sets long-term ambitions for A Thriving Society, A Circular Economy, and A Stable Climate

ATLANTA--(BUSINESS WIRE)-- Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, today published its 2024 Sustainability Report. The report lays out an accelerated sustainability agenda with three long-term ambitions for A Thriving Society, A Circular Economy, and A Stable Climate. To advance this vision, Assurant will focus on actions in three areas: Connected Communities, Respected Resources, and a Protected Planet.

“We remain committed to further integrating sustainability considerations into our business, and our programs continue to gain momentum and create impact,” said Keith Demmings, president and CEO, Assurant. “Our new sustainability vision closely aligns with Assurant’s strategy and underscores the importance of how Assurant can create value for all of our stakeholders. We will lean into these focus areas to enable our global growth sustainability strategies and reach our long-term objectives.”

Assurant’s 2024 Sustainability Report details this new vision, reaffirms our commitment to our sustainability programs, and reports actions, impact, and progress since last year’s report in the following areas:

A Thriving Society:

• Continued to reinforce a talent strategy focused on employee engagement, investments in programs to support career development, including opportunities to build a more diverse pipeline, as well as competitive rewards, recognition and wellbeing.
• Launched Leading the Way, a program designed to grow skills, capabilities, and careers to impact engagement, performance, and results.
• Invested in Total Rewards & Wellbeing, including initiatives to advance physical, emotional, financial, and social wellbeing.
• Established two new employee resource groups: Pride@Assurant and Abilities@Assurant, reflecting our expanded DE&I focus to includes individuals with all abilities.
• Diverse Supplier spend increased by 15%, reaching $115 million. This was achieved through collaboration with diverse and small business suppliers including identifying new opportunities within Assurant’s Global Automotive business.

A Circular Economy:

• Through mobile trade-in programs, Assurant returned more than $3 billion to consumers in exchange for their used devices, diverting more than 4,200 metric tons of electronic waste from landfills; and avoiding approximately 1.16 million metric tons of CO2 emissions.
• Launched Assurant CarbonIQ ^SM, a solution that tracks and measures the carbon footprint of a connected device throughout its lifecycle, providing crucial insights to measure progress toward circularity goals.
• Protected more than 60 million mobile devices and operated more than 60 mobile trade-in programs globally, repurposing 22 million devices as of year-end 2023.
• Operated a global network of Device Care Centers leveraging state-of-the-art technology, robotics, AI, and leading circularity practices to deliver on commitments to clients.
• Provide vehicle protection for 55 million automobiles, with currently around 50% on used vehicles, while expanding our protection for hybrid and electric vehicles.

A Stable Climate:

• Received a “B” rating for the CDP climate change questionnaire for the sixth consecutive year and for the first time, achieved a “B” CDP Supplier Engagement Rating.
• Reduced Scope 1 and 2 GHG emissions by more than 5% year-over-year delivering meaningful progress toward our target to reduce Scope 1 and 2 GHG emissions by 40% by 2030, from a 2021 baseline.
• Expanded our sustainability supplier assessment program, engaging over 100 supply chain partners on sustainability matters.

To foster continued sustainability disclosure transparency, the report includes updated annual Sustainability Accounting Standards Board (SASB) and Task Force on Climate-Related Financial Disclosures (TCFD) indices.

The Assurant 2024 Sustainability Report and additional information about Assurant’s strategic sustainability initiatives are available online at www.assurant.com/our-story/sustainability.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other products. Learn more at assurant.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240711111940/en/

Media:

Stacie Sherer

Stacie.Sherer@assurant.com

Source: Assurant, Inc.

FAQ

What are the key initiatives in Assurant's 2024 Sustainability Report?

Assurant's 2024 Sustainability Report highlights initiatives like increasing diverse supplier spend by 15%, diverting over 4,200 metric tons of electronic waste, and protecting 60 million mobile devices.

How much electronic waste did Assurant divert in its 2024 Sustainability Report?

Assurant diverted over 4,200 metric tons of electronic waste through its mobile trade-in programs.

What rating did Assurant receive from CDP for its climate change efforts?

Assurant received a ‘B’ rating from CDP for its climate change efforts for the sixth consecutive year.

How much has Assurant reduced its Scope 1 and 2 GHG emissions?

Assurant achieved a 5% reduction in Scope 1 and 2 GHG emissions year-over-year.

What was the financial impact of Assurant's mobile trade-in programs?

Assurant's mobile trade-in programs returned more than $3 billion to consumers.