Travelers Publishes Its 2023 Sustainability Report

Rhea-AI Summary

The Travelers Companies (NYSE: TRV) released its 2023 Sustainability Report, emphasizing their integrated approach to sustainability in economic, operational, environmental, social, and governance (ESG) aspects. Chief Sustainability Officer Yafit Cohn highlighted the company's commitment to combining shareholder value with societal care. Key insights include a 27% CAGR in the Global Renewable Energy Practice since 2018, a total of $230 million in community gifts over the past decade, and a 30,000-hour increase in employee volunteerism in 2023. Travelers also received the highest Net Promoter Score from Marsh McLennan for the second year. The company expanded its Diversity Networks to 10, involving 40% of its workforce, and celebrated the 100th episode of its Wednesdays with Woodward series. Travelers' sustainability practices align with SASB standards and TCFD recommendations, marking five consecutive years of comprehensive reporting. Visit sustainability.travelers.com for more details.

HARTFORD, Conn.--(BUSINESS WIRE)-- The Travelers Companies, Inc. (NYSE: TRV) today announced its 2023 Sustainability Report, outlining its comprehensive approach to creating shared and sustained value.

“At the intersection of creating shareholder value and taking care of the people we’re privileged to serve, sustainability is integrated into every facet of our company,” said Yafit Cohn, Chief Sustainability Officer at Travelers. “Through our principled and holistic view of sustainability, we’re managing the risks and taking advantage of the opportunities presented by a number of economic, operational, environmental, social and governance factors relevant to our business.”

The report provides an in-depth review of 16 topics the company has identified as its key drivers of sustained value: Business Strategy & Competitive Advantages, Capital & Risk Management, Climate Strategy, Community, Customer Experience, Data Privacy & Cybersecurity, Disaster Preparedness & Response, Diversity & Inclusion, Eco-Efficient Operations, Ethics & Responsible Business Practices, Governance Practices, Human Capital Management, Innovation, Investment Management, Public Policy and Safety & Health.

Highlights from this year’s report include:

• The company has seen a 27% compound annual growth rate in its Global Renewable Energy Practice since 2018, with revenue increasing more than 230% over that same period.
• Over the past decade, Travelers and the Travelers Foundation have provided more than $230 million in gifts to local communities, and in 2023, employee volunteer hours increased by 30,000 from the prior year, reaching more than 103,000 hours.
• Marsh McLennan, the largest insurance broker in the world, tracks its broker experience with insurance carriers, and for the second consecutive year, Travelers received the highest Net Promoter Score in Marsh McLennan’s corporate segment for overall experience.
• The company formalized two new Diversity Networks, bringing its total to 10. Approximately 40% of the company’s workforce belongs to one or more Diversity Networks, which are voluntary, employee-led groups dedicated to fostering a diverse and inclusive work environment.
• The Travelers Institute, the company’s public policy division, produced its 100th episode in its Wednesdays with Woodward series, which convenes thought leaders from across industry and government to weigh in on relevant issues.
• Travelers acquired Corvus Insurance, an industry-leading cyber insurance managing general underwriter powered by proprietary technology.

The company’s sustainability reporting is guided by multiple sustainability disclosure frameworks, as well as engagements with key stakeholders from both inside and outside the company. This year marks the fifth year that Travelers has published standalone, comprehensive reports consistent with the Sustainability Accounting Standards Board (SASB) standards for the insurance industry and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), making the company a leader in the domestic property casualty insurance industry.

To learn more about Travelers’ sustainability efforts, visit sustainability.travelers.com.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $41 billion in 2023. For more information, visit Travelers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240626709300/en/

Media:

Courtney Garro, 860-277-8719

cgarro@travelers.com

Source: The Travelers Companies, Inc.

FAQ

What are the key highlights of Travelers' 2023 Sustainability Report?

Highlights include a 27% CAGR in the Global Renewable Energy Practice, $230 million in community gifts over a decade, and a 30,000-hour increase in employee volunteerism in 2023.

How has Travelers' Global Renewable Energy Practice performed?

The Global Renewable Energy Practice saw a 27% compound annual growth rate since 2018, with a revenue increase of over 230%.

How much has Travelers contributed to local communities?

Travelers and the Travelers Foundation have contributed over $230 million to local communities in the past decade.

What is Travelers' Net Promoter Score for 2023?

Travelers received the highest Net Promoter Score in Marsh McLennan’s corporate segment for the second consecutive year.

How many Diversity Networks does Travelers have?

Travelers has 10 Diversity Networks, with about 40% of its workforce participating in one or more networks.

What is the Wednesdays with Woodward series?

Wednesdays with Woodward is a series by the Travelers Institute that convenes thought leaders to discuss relevant issues and reached its 100th episode in 2023.

How does Travelers align its sustainability reporting?

Travelers' sustainability reporting aligns with SASB standards and TCFD recommendations, marking five years of comprehensive reporting.

Where can I find more information on Travelers' sustainability efforts?

For more details on Travelers' sustainability efforts, visit sustainability.travelers.com.