May 20, 2008

AIG Releases CSR Report

Insurance and financial services giant American International Group’s second report on corporate responsibility, titled “Putting our Strength Behind Sustainability,” covers eight areas including the company’s sustainable investment strategy.

Through its investment strategy, which is focused on environmental, social and governance issues, AIG says it is developing insurance products that address client needs related to alternative energy and limiting carbon emissions, as well as products that support the growing carbon market.

In addition to offsetting its 2006 emissions by purchasing 620,000 metric tons of CO2 equivalent offsets from forestry and agricultural projects in the United States and China, AIG said in October of 2007 that it would fund CO2 emission offset credits in China’s Xinjiang and Sichuan provinces. The proposed projects would generate 310,000 metric tons of CO2 offset credits from farmers in these two provinces.

Innovest listed AIG as one of the 100 most sustainable companies in the world in 2008. Corporate Knights and Innovest evaluate companies from 16 countries according to how they manage environmental, social and governance risks and opportunities, relative to their peers.

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