Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Responsibility
• Sustainability
• Diversity and Inclusion
• Employee Well-being
• Community Investment
• Ethical Business Conduct
• Information Security
• Crisis Planning
• Privacy

Environmental Achievements

• Reduced greenhouse gas emissions per employee by 5.5% in 2019.
• Reduced outdoor energy consumption at corporate headquarters by 74% in 2019.
• Reduced per-employee megawatt usage at HQ by 7% from 2016 to 2019.
• Achieved an EnergyStar Score of 76 for HQ facility.
• Recycled more than 33 tons of paper, cardboard, and other recyclable items in 2019.
• Diverted 32% of waste from landfills to recycling facilities in 2019 (up from 19.2% in 2018).
• Recycled approximately 500 tons of paper at Oklahoma City printing facility in 2019.
• Prevented the use of approximately 280,000 disposable plastic water bottles annually.

Social Achievements

• Honored by the Women’s Forum of New York for gender parity in the boardroom in 2019.
• Donated approximately $875,000 to organizations supporting families, seniors, and veterans in 2019.
• Provided about $335,000 in scholarships/tuition to underprivileged children in 2019.
• Implemented a robust work-from-home program.
• Implemented various wellness initiatives (fitness center reimbursement, on-site flu shots, etc.).
• Offered comprehensive benefits package including health, dental, and vision insurance.

Governance Achievements

• Established an Environmental, Social and Governance Committee in March 2018.
• Established an Enterprise Risk Management (ERM) Committee in 2009 and an ERM Department in 2018.
• Implemented a Code of Conduct and annual training for all employees.
• Maintained a policy of equal opportunity free from discrimination.
• 45% of Board of Directors are women and 18% are minorities.

Climate Goals & Targets

Environmental Challenges

• Limited ability to make facility-wide sustainability enhancements in leased office spaces.
• Potential impact of natural disasters or severe weather on facilities.

Mitigation Strategies

• Consideration of building owner's planned improvements when renewing leases.
• Development and testing of a disaster recovery plan.
• Proactive crisis planning for fires, tornados, hurricanes, and infectious diseases.
• Expanded work-from-home program in response to COVID-19.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Natural disasters, severe weather

Awards & Recognition

• Women’s Forum of New York award for gender parity in the boardroom (2019)

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Risk Management

Environmental Achievements

• Established a formal ESG function within the ERM Department.
• Conducted a materiality assessment to identify key ESG issues.
• Completed a full GHG inventory for the 2021 reporting year.
• Aligned ESG Report with the Sustainability Accounting Standards Board (SASB) Standard for Insurance.
• Implemented water conservation efforts including drought-tolerant landscaping, timer-based sprinkler systems with rain sensors, and touchless restroom faucets.

Social Achievements

• Increased employee engagement and interest in environmental stewardship through education and training.
• Maintained a robust work-from-home program.

Governance Achievements

• Established an ESG Committee (sub-committee of the ERM Committee) responsible for setting the Company’s corporate sustainability agenda.
• Independent Lead Director earned the Climate Leadership Certificate from Diligent Corporation.
• Incorporated climate change considerations into the Own Risk and Solvency Assessment (ORSA).

Climate Goals & Targets

Environmental Challenges

• Increased regulatory requirements related to climate change (transition risk).
• Risk of adverse business impact from stakeholders developing a negative view of the company due to a lack of action on climate change (transition risk).
• Potential losses or decline in investment values over the long-term in carbon-intensive industries (transition risk).
• Adverse impact to mortality/morbidity rates if CO2 levels continue to increase (physical risk).
• Increased costs to transition to lower-emission energy sources/technology (transition risk).
• Acute impacts of climate change such as increased frequency of extreme weather events (physical risk).

Mitigation Strategies

• Incorporated potential increased costs of compliance with emerging regulations into forward-looking financial plans.
• Developed a strategy to increase climate-related disclosures and mature the ESG program.
• Implemented a prudent approach to investment management, including diversification and credit risk management.
• Incorporated relevant ESG risk impacts into the credit outlook for issuers.
• Monitored ESG ratings from external providers.
• Implemented an Enterprise Resiliency program with business continuity plans and Mobile Recovery Centers (MRCs).
• Proactive planning for hazards like severe weather and infectious diseases, including mass notification processes and a business continuity hotline.
• Scenario testing for mortality risk and investment portfolio resilience using NGFS and IPCC scenarios.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency of extreme weather events (drought, wildfires, extreme precipitation, hurricanes, flooding, etc.)
• Adverse impact to mortality/morbidity rates due to increased CO2 levels and extreme weather

Transition Risks

• Increased regulatory requirements
• Risk that stakeholders may influence changes to company strategy or governance
• Increased costs to transition to lower-emission energy sources/technology
• Potential losses or decline in investment values in carbon-intensive industries

Opportunities

• Drive increased employee engagement
• Improve energy efficiency of facilities
• Assess use of public incentives to decarbonize operations
• Reduce GHG emissions in the supply chain

Reporting Standards

Frameworks Used: TCFD, SASB

Environmental Metrics

ESG Focus Areas

• Climate Change
• Governance
• Risk Management

Environmental Achievements

• Increased sustainability-related communications by sharing the annual ESG Report with employees and encouraging recycling at facilities.

Social Achievements

• Not disclosed

Governance Achievements

• Established a formal ESG function within the ERM Department; restructured ESG function to report through the Regulatory Compliance Department in early 2024; Globe Life Inc.’s independent Lead Director earned the Climate Leadership Certificate from Diligent Corporation.

Climate Goals & Targets

Environmental Challenges

• Increased regulatory requirements related to climate change leading to increased ongoing costs; stakeholder interest in how companies are addressing climate change, with insufficient action potentially leading to loss of customers, policyholders, employees, or agents; potential losses or decline in investment values in carbon-intensive industries; adverse impact to mortality/morbidity rates if CO2 levels continue to increase; increased costs to transition to lower-emission energy sources/technology; physical risks from climate change may have an adverse impact on health outcomes, potentially increasing claims and impacting the profitability of products; acute impacts of climate change such as increased frequency of extreme weather events may disrupt business operations; water stress risk at several operational sites.

Mitigation Strategies

• Forward-looking financial plans account for potential increased costs of compliance with emerging regulations; ESG strategy includes plans to engage with employees on ESG issues, encourage a culture of transparency, and communicate progress; prudent approach to investment management; pricing and underwriting assumptions adjusted as necessary to follow climate science and health impact estimations; Enterprise Resilience program with site-specific business continuity plans and local coordinators; disaster recovery plan updated annually; Mobile Recovery Centers (MRCs) contracted for business continuity; work-from-home program; water conservation efforts including drought-tolerant landscaping, timed sprinkler systems with rain sensors, and touchless faucets; incorporation of ESG risk impacts and other relevant credit risk factors into the credit outlook for issuers; scenario testing using historical experience and forward-looking analysis; annual risk assessments incorporating qualitative impacts from climate change; risk liaison network to identify, prioritize, assess, mitigate, and report risks.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency of extreme weather events (drought, wildfires, extreme precipitation, hurricanes, flooding, etc.)
• Adverse impact to mortality/morbidity rates
• Water stress

Transition Risks

• Increased regulatory requirements
• Potential losses or decline in investment values in carbon-intensive industries
• Increased costs to transition to lower-emission energy sources/technology

Opportunities

• Increased employee engagement and interest in environmental stewardship
• Improved energy efficiency of facilities
• Reduced greenhouse gas emissions in the supply chain
• Investments in climate change solutions (renewable energy, low-carbon technologies, green infrastructure, etc.)

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Energy and Emissions
• Responsible Investments
• Accessible and Equitable Information
• Diversity, Equity, and Inclusion
• ESG Responsible Products and Services
• Financial Inclusion for Customers and Communities
• Talent Engagement, Attraction, and Retention
• Compliance, Ethics, and Integrity
• Data Privacy and Cybersecurity
• ESG and Climate Risk Management
• Sustainable Supplier Management
• Transparent ESG Reporting and Disclosure

Environmental Achievements

• Installed new, more energy-efficient air conditioning units
• Transitioned to more energy-efficient LED lighting
• Re-insulated windows and completed roof repair at headquarters to limit air entry
• Recycled approximately 1,115 tons of paper, cardboard, scrap metals, and plastics at Oklahoma City printing facility
• Implemented water conservation upgrades including native drought-tolerant landscaping, energy-efficient sprinkler system, and touchless faucets/toilets

Social Achievements

• 80% of workforce identifies as Engaged or Almost Engaged based on 2023 employee engagement survey
• Continued DEI program with heritage-based forums, workshops, and communications
• Established six employee resource groups (ERGs)
• Provided 21,588 total learning hours and 62,074 course completions through Life platform
• Hosted 20 interns across multiple departments

Governance Achievements

• Onboarded two new vendors to support ESG data collection and reporting
• Continued progress on measuring Key Performance Indicators (KPIs)
• Increased stakeholder engagement on data collection and sustainability education
• Completed second iteration of TCFD Report
• Initiated development of a Supplier Diversity Program, achieving 3.9% spend with diverse suppliers

Climate Goals & Targets

Environmental Challenges

• Increased regulatory requirements related to climate change leading to increased costs
• Stakeholder interest in climate change action
• Costs to transition to lower-emission energy sources
• Potential losses or decline in investment values in carbon-intensive industries
• Adverse impact to mortality/morbidity rates due to climate change
• Data limitations in attributing mortality/morbidity to climate change

Mitigation Strategies

• Forward-looking financial plans account for potential increased costs of compliance
• ESG strategy includes increased climate-related disclosures, employee engagement, and transparency
• Prudent investment management approach mitigates climate-related risks to investments
• Pricing and underwriting assumptions reflect environmental factors impacting mortality and morbidity
• Enterprise Resilience program prepares for extreme weather incidents
• Scenario testing for mortality risk and investment portfolio resilience

Supply Chain Management

Responsible Procurement

• Supplier Diversity Program

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Water stress
• Wildfires
• Heatwaves

Transition Risks

• Increased regulatory requirements
• Changes in investor sentiment
• Costs of transitioning to lower-emission energy sources

Opportunities

• Increased employee engagement
• Improved energy efficiency
• Public incentives for decarbonization

Reporting Standards

Frameworks Used: SASB, TCFD