CSAA Insurance Group Releases Climate Commitments in New ESG Report

On April 13, Walnut Creek-based CSAA Insurance Group released its carbon reduction and climate commitments in a new ESG report. Tom Troy, president and CEO at CSAA Insurance Group said he wants to lead by example and respond to the climate crisis with a sense of urgency. “Our employees, our customers and the communities we serve are being impacted, as they experience more severe weather and the increased severity and frequency of wildfires. It is an ambitious target, and we have put in place tangible milestones and actions that we believe will get us there.”

The new report also details progress across existing programs and announces a number of new initiatives, including renewable energy investments; ongoing commitments to equity, inclusion and belonging; and a Community Investments Program that funds development initiatives in low-income communities.

• Environmental – Helping Build a Greener World:

CSAA Insurance Group undertook actions to become a “green” company more than a decade ago by managing the real estate portfolio to reduce waste, minimizing water use, and conserving electricity. New environmental commitments include achieving a 50% reduction in carbon emissions and carbon neutrality by 2025.

• Social – Empowering Our People:

A focus on diversity helps the company better serve and respond to customers, partners and the community. With room to improve, the company has long-term incentive plan goals for vice presidents and above that are focused on Black/African American and Hispanic/LatinX leadership representation.

• Governance – Mitigating Risk, Ensuring Compliance:

CSAA Insurance Group continually reviews and updates its corporate policies and processes. In 2021, the company began to consider its governance with the lens of TCFD (Task Force on Climate-Related Financial Disclosures, developed by The Financial Stability Board) reporting, which looks at how the company is preparing for climate change impacts to its business and policyholders.

Tom added that the company’s ESG reports will continue to expand the framework for setting and meeting definitive goals, analyzing results, and ensuring that the company remains a responsible steward for business and the environment.