The Power of Us: Lincoln Financial Group Releases 2023 Corporate Social Responsibility Report

Rhea-AI Summary

Lincoln Financial Group (NYSE:LNC) has released its 2023 Corporate Social Responsibility (CSR) report, named 'The Power of Us.' The report spans activities from January 1 to December 31, 2023, and highlights Lincoln's efforts in financial protection, environmental sustainability, and social governance. Key achievements include $9 million in charitable donations benefiting over 1.5 million people, a 40% increase in volunteer hours, and the launch of a new employee development platform called myCareer. Lincoln also earned recognition as one of America's Most Responsible Companies and achieved significant reductions in greenhouse gas emissions. The company invested $3.9 billion in responsible investments designed to advance social and environmental benefits.

Positive

• Contributed more than $9M to over 285 nonprofit partners, benefiting 1.5 million people.
• Increased volunteer hours by 40%, with employee donations matched dollar-for-dollar.
• Launched myCareer, a learning platform for continuous employee development.
• Named Newsweek’s America’s Most Responsible Companies and Most Trustworthy Companies.
• Reduced Scope 1 and 2 greenhouse gas emissions by 31% from 2019 baseline.
• Invested $3.9 billion in responsible investments for social and environmental benefits.

Negative

• None.

Lincoln focuses on collaboration, belonging and integrity with investments in employees, customers and communities

RADNOR, Pa.--(BUSINESS WIRE)-- Lincoln Financial Group (NYSE:LNC) today shared its 2023 Corporate Social Responsibility (CSR) report, The Power of Us, highlighting the company’s progress in advancing its purpose to provide financial protection and security to customers and their families and its environmental, social and governance (ESG) initiatives.

The firm’s annual CSR Report, which covers activities from Jan. 1 through Dec. 31, 2023, describes Lincoln’s actions in the areas of philanthropy, volunteerism, environmental sustainability and responsible business practices, and proudly features many of the employees who contributed to this great work. The report showcases Lincoln’s support to its nonprofit partners and those in need, its continued investment in diversity, equity and inclusion efforts and its amplified commitment to the environment.

“In 2023, Lincoln delivered on our purpose with unwavering conviction, through the remarkable work of our employees and our Foundation,” said Ellen Cooper, Chairman, President and Chief Executive Officer of Lincoln Financial Group. “We know that it’s not just what we do that matters – but also, how we do it. We are in a people-driven business, and there is power in a strong team – at Lincoln, we are harnessing the Power of Us to support the people and communities we serve with excellence.”

Highlights of Lincoln Financial’s 2023 CSR report and progress include:

• The Lincoln Financial Foundation contributed to more than 285 nonprofit partners, with more than $9M in charitable giving, benefitting more than 1.5 million people.
• Increased volunteering hours by 40 percent, and employees’ personal donations to local nonprofits were matched dollar-for-dollar by the Foundation.
• Launched myCareer, a learning platform to support continuous development for employees, developed new leadership training programs and expanded Total Rewards benefits and programs for employees.
• Received notable recognition – named Newsweek’s America’s Most Responsible Companies and Most Trustworthy Companies, Ethisphere’s World’s Most Ethical Companies, and received perfect scores on both the Corporate Equality Index and the Disability Equality Index.
• Achieved its 8 Actions to support racial justice and equity.
• Amplified its commitment to the environment by continuing to focus on and take action to reduce greenhouse gas emissions, with a 31% reduction of Scope 1 and 2 emissions from 2019 baseline.
• Advanced Environmental, Social and Governance (ESG) vision through responsible investments – investing $3.9 billion of general account in responsible investments that advance social benefits and environment sustainability.

“Our CSR efforts begin with One Team Lincoln—ensuring our employees feel valued and know their voices are heard, which amplifies career success and how they show up and deliver for our customers and communities,” said Allison Green Johnson, Chief Diversity Officer and President of the Lincoln Financial Foundation, Lincoln Financial Group. “As we support our non-profit partners, people and places in need, and cultivate a culture of belonging, our investments focus on financial wellness, education and human services. These are the building blocks to drive confidence and meaningful outcomes. I’m proud of the commitment and collective power of our employees and partners.”

Lincoln Financial’s Corporate Social Responsibility report can be viewed and downloaded here.

About Lincoln Financial Group

Lincoln Financial Group helps people to plan, protect and retire with confidence. As of December 31, 2023, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2024, the company had $310 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, Pa., Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at LincolnFinancial.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606449533/en/

Media:

Lincoln Financial Group

Lauren Holloway

484-268-4492

Lauren.holloway@lfg.com

Source: Lincoln Financial Group

FAQ

What did Lincoln Financial Group report in its 2023 CSR report?

Lincoln Financial Group's 2023 CSR report highlights $9M in charitable donations, a 40% increase in volunteer hours, and significant reductions in greenhouse gas emissions.

How much did Lincoln Financial Group donate to nonprofits in 2023?

Lincoln Financial Group donated over $9 million to more than 285 nonprofit partners in 2023.

What new initiatives did LNC introduce for employees in 2023?

In 2023, LNC introduced myCareer, a new learning platform for continuous employee development, and expanded Total Rewards benefits and programs.

What environmental achievements did Lincoln Financial Group highlight in their 2023 CSR report?

Lincoln Financial Group reduced Scope 1 and 2 greenhouse gas emissions by 31% from the 2019 baseline and invested $3.9 billion in responsible investments.

What recognitions did Lincoln Financial Group receive in 2023 for its corporate responsibility?

In 2023, Lincoln Financial Group was named one of Newsweek’s America’s Most Responsible Companies and Most Trustworthy Companies, and received perfect scores on both the Corporate Equality Index and the Disability Equality Index.