Securian Financial Group, Inc.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:10396 tCO2e/year
Scope 1 Emissions:1130 tCO2e/year
Scope 2 Emissions:9266 tCO2e/year
Waste Generated:52 tons/year
ESG Focus Areas
- Community investment and engagement
- Supplier diversity
- Mitigate and manage climate risk
- Responsible investing
- Ethics and risk management
- Cybersecurity and responsible data use
- Diversity, equity and inclusion
- Talent attraction and development
Environmental Achievements
- Diverted 52 tons of waste from landfills through mixed and organic recycling programs.
- Securian's headquarters maintained ENERGY STAR and LEED certifications.
- Implemented Lights Out initiative to reduce bird collisions.
Social Achievements
- Contributed $10.8 million to the community through the Securian Financial Foundation and other contributions.
- 66% of associates participated in community engagement activities, volunteering over 24,000 hours.
- Refined impact investing approach, including a $1 million contribution to the Minnesota State Housing Tax Credit Program.
- Welcomed a new chief diversity officer and introduced new DEI metrics.
- Received a perfect score on the Human Rights Campaign’s Corporate Equality Index.
- Increased diversity of associates and officers.
Governance Achievements
- Developed a Sustainability Report, completed a Principles for Responsible Investment (PRI) report, and conducted an initial assessment of climate-related risks aligned with the Task Force on Climate-related Financial Disclosures (TCFD).
- Established a sustainability governance framework, formed an enterprise-wide Sustainability Committee, and provided regular updates to board committees.
- Improved risk assessments by introducing new economic capital targets as part of the 2023 Own Risk and Solvency Assessment (ORSA).
- Enhanced the confidential ethics helpline and website.
- Adopted AI principles to guide ethical and fair AI use.
Climate Goals & Targets
Long-term Goals:
- Net zero emissions in Scope 1 and 2 market-based emissions by 2035.
- Exploring feasibility of achieving Scope 3 net zero emissions by 2050.
Environmental Challenges
- Climate risk poses a threat to investment returns, insurance risk exposures, and future business growth.
- Measuring Scope 3 GHG emissions due to financed emissions being the primary source.
Mitigation Strategies
- Aligned climate risk framework with TCFD guidance.
- Conducted qualitative scenario analysis to identify action steps to enhance climate risk management and disclosures.
- Working to identify new data sources and assess portfolio using developing standards such as PCAF to address Scope 3 emissions.
Supply Chain Management
Responsible Procurement
- Supplier diversity program
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: TCFD, PRI
Certifications: ENERGY STAR, LEED Silver
Awards & Recognition
- NAMI MN Employer of the Year
- Human Rights Campaign’s Corporate Equality Index (perfect score)
- Great Place to Work-Certified™ company (7th consecutive year)