Climate Change Data

Environmental Metrics

ESG Focus Areas

• Responsible Employer
• Impact on Society
• Integrity and Ethics
• Customer Commitment

Environmental Achievements

• Reduced energy consumption by more than 57.6 million kilowatt hours over the past decade, resulting in a nearly 24,750-ton reduction in carbon dioxide emissions.
• Increased device reuse rate by approximately 5% in mobile operations.
• U.S. facilities recycled more than 86% of total waste on-site in 2019.

Social Achievements

• Overall employee engagement score of 81 out of 100.
• Global turnover rate for salaried and managerial roles was 10% overall, and 9% in the U.S. in 2019.
• Assurant Foundation donated nearly $3.9 million through grants and disaster relief support in 2019.
• Employees recorded more than 20,200 community volunteer hours in 2019.

Governance Achievements

• 50% of Assurant’s board members are diverse in gender, race and/or ethnicity.
• Enhanced investment in ethics by establishing a dedicated Ethics Office and sponsoring a global “Speak Up!” campaign.
• 13,904 Assurant employees completed required ethics training courses in 2019.
• 239 cybersecurity audits were completed successfully within Assurant in 2019.

Climate Goals & Targets

Environmental Challenges

• Climate change risks impacting Global Housing business (increased frequency of heavy rainfall, increasing temperatures, decreasing freeze events).
• Regulatory risks related to climate change, particularly in coastal regions.
• Third-party risks related to reinsurers' willingness to absorb catastrophe risk.
• Legal risks related to climate-related events and potential expansion of insurance coverage.

Mitigation Strategies

• Diversification of business portfolio away from catastrophe-exposed insurance.
• Risk sharing through reinsurance and catastrophe modeling.
• Engagement with state and national regulators.
• Limiting percentage of business held by each reinsurer, multiyear, multilayered approach to catastrophe reinsurance.
• Incentivizing flood-prone individuals to use physical risk management tools.
• Fortifying facilities to improve climate resilience (e.g., hurricane-resistant glass, generators).

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Assurant Supplier Code of Conduct requiring safe working conditions, respect for workers, environmentally and socially responsible practices, and ethical conduct.

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency of heavy rainfall events
• Increasing temperatures
• Decreasing number of freeze events

Transition Risks

• Regulatory changes
• Reinsurers' willingness to absorb risk

Opportunities

• Development of climate adaptation and insurance risk solutions

Reporting Standards

Frameworks Used: GRI, SASB, PRI, TCFD

Certifications: ISO 9001, ISO 14001, R2

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Refurbishing mobile devices
• Pocket Drive (connected device for auto industry)

Awards & Recognition

• 2020 Women on Boards Winning Company “W” rating

Environmental Metrics

ESG Focus Areas

• Talent
• Products
• Climate

Environmental Achievements

• 10-percent year-over-year decline in Scope 2 GHG emissions (largely driven by a reduction in U.S. energy consumption)
• Mobile device repair facilities continued to recycle more than 80% of waste on-site
• Reduced annual paper consumption by 10%
• Maintained a “B” Climate Change rating with the CDP for the fourth consecutive year
• Received a Bronze award in the EcoVadis assessment, ranking Assurant among the Top 50 percent of all 75,000 participating companies
• Repurposed approximately 116 million devices since 2009, diverting over 6M metric tons of CO2 emissions and avoiding 23,000 metric tons of electronic waste from landfill

Social Achievements

• Launched first Employee Resource Group (ERG) to support women’s professional and personal development
• 69-percent diverse hires (by either gender or race/ethnicity) resulting from scaled diverse slate and interview team requirements
• Expanded mentorship and coaching programs for women and underrepresented leaders
• Implemented a new enterprise-wide listening program (AssurantPulse) to gather employee feedback
• Overall eNPS score of 38 in 2021
• Donated nearly $4 million in grants to nonprofit organizations and provided $723,000 in matching gifts
• Awarded new contracts to diverse-owned businesses totaling $66 million

Governance Achievements

• Released Code of Business Conduct and Ethics as an interactive tool in 8 languages
• Updated Human Rights Policy
• Third-party ethical culture survey showed a 90% trusting relationship between employees and leadership
• No material information security breaches in 2021

Climate Goals & Targets

Environmental Challenges

• Increased employee turnover (23% globally in 2021)
• Climate change risks (transition and physical risks)
• Need to refine Scope 3 GHG emission reporting and set science-based targets

Mitigation Strategies

• Monitoring and adjusting market wages
• Multistep pay equity review
• Diversifying portfolio toward products with lower catastrophe exposure
• Risk transfer and diversification strategies (reinsurance, ILS market)
• Catastrophe modeling
• Investing in renewable energy and energy efficiency programs
• Working to evaluate and set science-based Scope 1 and 2 GHG emission reduction goals

Supply Chain Management

Supplier Audits: 1,015 third-party IT vendor assessments

Responsible Procurement

• Supplier Diversity & Inclusion program
• Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Storm surge
• Extreme weather events
• Sea-level rise
• Temperature change

Transition Risks

• Policy and regulatory changes
• Technological shifts
• Market changes
• Reputational risks

Opportunities

• Cost savings from energy efficiency
• Growth of green products
• Growth of EV market
• Expansion of mobile trade-in business

Reporting Standards

Frameworks Used: GRI, SASB, TCFD, UNGC

Certifications: ISO 27001 (UK subsidiary)

UN Sustainable Development Goals

• 3
• 5
• 8
• 10
• 7
• 11
• 12
• 13
• 17
• 9

The report aligns various initiatives with the specified UN Sustainable Development Goals.

Sustainable Products & Innovation

• Electric vehicle protection product
• Mobile device repair and trade-in programs

Awards & Recognition

• Move For Hunger 2021 Partner of the Year Award
• JPMorgan Chase Strategic “Gold” Supplier

Environmental Metrics

ESG Focus Areas

• Talent
• Products
• Climate

Environmental Achievements

• Reduced enterprise Scope 1 and Scope 2 (market-based) GHG emissions by 12.5 percent year-over-year.
• Repurposed over 22 million mobile devices, diverting over 4,000 metric tons of electronic waste from landfill and avoiding approximately 1.2M metric tons of CO2 emissions.
• Reduced annual known paper consumption by 41%.

Social Achievements

• Expanded employee resource groups.
• Launched an inaugural enterprise mentorship program for underrepresented minorities and women.
• Allocated more funding to frontline employees to address inflation.
• Donated $3.4 million in grants to nonprofit organizations and provided over $583,000 of employee-donation matches.
• Spent nearly $100 million with diverse-owned businesses.

Governance Achievements

• Finalized ESG Oversight and Action Committee.
• Published first enterprise Climate Action Policy.
• Announced science-based goal to reduce greenhouse gas emissions by 40 percent by 2030.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions (implied)
• Inflationary environment impacting frontline employees.
• High employee turnover in frontline roles (32%).
• Climate-related risks to property insurance portfolio, particularly in coastal regions.
• Model risk in catastrophe modeling due to reliance on historical data.

Mitigation Strategies

• ESG supplier assessment program launched to integrate sustainable procurement.
• Targeted off-cycle pay adjustments and increased funding for frontline employees.
• Diversification of business portfolio toward lower catastrophe exposure products.
• Risk transfer and diversification strategies (reinsurance, ILS market).
• Proprietary view of risk combining and adjusting results from several catastrophe models.

Supply Chain Management

Supplier Audits: ESG supplier assessment program launched in 2022.

Responsible Procurement

• Assurant’s Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Catastrophe losses (hurricanes, earthquakes)
• Increased frequency and severity of catastrophic events
• Property damage to offices and device care centers
• Sea-level rise impacting property values

Transition Risks

• Regulatory changes impacting insurance products and investments
• Technological shifts impacting product demand
• Market shifts away from personal vehicles
• Reputational risks related to climate action

Opportunities

• Growth in electric vehicle protection products
• Expansion of mobile device trade-in programs
• Cost savings from energy efficiency and renewable energy
• Development of new products and services related to climate resilience

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: R2v3 (3 US Device Care Centers), RIOS (2 US Device Care Centers), ISO 9001, ISO 14001, ISO 45001 (1 US Device Care Center), ISO 14001 (1 UK Device Care Center), APEC CBPR (2023)

Third-party Assurance: Third-party limited assurance for Scope 1, 2, and relevant Scope 3 GHG emissions (excluding Investment Portfolio)

UN Sustainable Development Goals

• 3
• 5
• 8
• 10
• 7
• 11
• 12
• 13
• 17
• 9

The report aligns various initiatives with specific UN SDGs.

Sustainable Products & Innovation

• Assurant EV One Protection
• Mobile device trade-in program
• APEX platform

Awards & Recognition

• #GreenMagenta label from Deutsche Telekom
• Bronze award from EcoVadis

Environmental Metrics

ESG Focus Areas

• Diversity, Equity, and Inclusion (DE&I)
• Circularity
• Climate

Environmental Achievements

• Reduced Scope 1 and 2 GHG emissions by over 5 percent year-over-year in 2023
• Repurposed over 22 million mobile devices in 2023
• Diverted over 4,200 metric tons of electronic waste from landfills in 2023
• Avoided approximately 1.16M metric tons of CO2 emissions in 2023

Social Achievements

• Launched two new Employee Resource Groups in 2023
• Improved employee satisfaction with an eNPS score of 53, an increase of nine points compared to the previous year
• Spent $115 million with diverse-owned businesses in 2023
• Employees volunteered over 91,000 hours in 2023

Governance Achievements

• Received a World’s Most Ethical Company designation by Ethisphere in early 2024
• Re-certified under the Asia-Pacific Economic Cooperation (APEC) Cross-Border Privacy Rules (CBPR) in 2023
• Enhanced disclosure of investment-related GHG emissions within the CDP in 2023

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions driven by extreme weather events and geopolitical risks
• Increased frequency and severity of weather-related events impacting insurance claims
• Availability and cost of reinsurance impacted by climate change
• Transition to electric vehicles impacting the market for Assurant's Global Automotive products

Mitigation Strategies

• Diversifying portfolio toward capital-light products with lower catastrophe exposure
• Responsible and diversified risk transfer through reinsurance
• Investing in energy-efficient facilities and real estate footprint optimization
• Developing sustainable products and services such as Assurant EV One ProtectionSM

Supply Chain Management

Supplier Audits: Over 100 supply chain partners engaged on ESG issues in 2023

Responsible Procurement

• Supplier Code of Conduct
• Sustainability Supplier Assessment program

Climate-Related Risks & Opportunities

Physical Risks

• Increased frequency and severity of weather-related events
• Increased claims and higher catastrophe losses

Transition Risks

• Policy and regulatory drive towards low or zero emission vehicles
• Changing market sentiment towards climate and ESG considerations

Opportunities

• Providing sustainable services and coverage options
• Developing new products for the expanding EV market
• Enabling resource efficiency and sustainable consumption

Reporting Standards

Frameworks Used: CDP, SASB, TCFD

Certifications: R2v3, RIOS, APEC CBPR

Third-party Assurance: Third-party limited assurance for Scope 1, 2, and relevant Scope 3 emissions

UN Sustainable Development Goals

• 3
• 5
• 8
• 10
• 7
• 11
• 12
• 13
• 17
• 16

The report mentions alignment with several UN Sustainable Development Goals throughout various sections.

Sustainable Products & Innovation

• Assurant EV One ProtectionSM
• Assurant Carbon IQSM

Awards & Recognition

• Bloomberg 2023 Gender Equality Index
• EcoVadis Silver rating
• Equality 100 Award
• Forbes’ Best Employers for Diversity
• Fortune’s America’s Most Innovative Companies
• World’s Most Ethical Companies by Ethisphere