June 16, 2022 (Birmingham, Ala.) – Protective Life Corporation, a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, today announced the publication of the company’s 2021 Sustainability Report, highlighting key achievements of integrating sustainable practices throughout the organization and living out the company’s purpose as protectors.
“We are committed to serving as protectors of our business, people and community. It’s why we do what we do,” said Rich Bielen, president and chief executive officer of Protective. “We make long-term promises to our customers, which makes it important for us to build a sustainable business. Within the pages of this report, we demonstrate how we are building just that.”
Protective’s 2021 Sustainability Report provides highlights of the company’s sustainability strategy and achievements within the key pillars of business, people and community, alongside diversity, equity and inclusion advancements. The report also includes a special feature of the company’s Protecting Good community engagement initiative in its headquarter city of Birmingham, Alabama.
“Building a sustainable business requires innovation, searching for opportunities and evolving to better reach and protect more people, and the 2021 Sustainability Report reflects this dedication,” said Scott Adams, executive vice president, corporate responsibility, strategy and innovation for Protective. “We continue to integrate sustainable practices across our organization and strongly believe our broad view supports our longevity, enabling us to deliver on our promises now and for years to come.”
Highlights from this year's report include:
Business: A few of Protective’s key business accomplishments in 2021 include the formal establishment of a Sustainability Task Force, completion of its first materiality assessment, sustainable investment initiatives and powering its 650,000 square-foot headquarters with 100% renewable energy. In addition, Protective reached a major milestone in 2021 of having $1 trillion of insurance in force and continued to protect its more than 12.8 million customers by paying more than $4.9 billion in claims.
People: With a drive to engage a newly distributed workforce, Protective provided hybrid and virtual work opportunities, added a paid cultural floating holiday and rolled out a COVID-19 vaccine incentive and awareness campaign to prioritize and protect its employees. Additionally, for the second consecutive year, Protective increased its minimum wage, this time, to $18 per hour.
Community: Complementing Protective’s longstanding commitment to bettering and protecting communities, more than 1,500 Protective employees volunteered with hundreds of organizations across Protective’s footprint. The company also distributed $4 million in Foundation gifts to advance causes, making an impact in the areas of education, economic development, arts and culture, health and the environment.
Diversity, Equity and Inclusion: With an ongoing commitment to diversity, equity and inclusion, this report details key successes, including the company’s actions in embracing the concept of equity and formally adding it to the existing Diversity and Inclusion framework, advancements in its supplier diversity program, and its numerous and broad engagement opportunities both internally and in its communities, including $1.4 million in gifts to programs promoting social equity.
Protecting Good Community Engagement Initiative: When Protective became the naming rights partner for Birmingham’s newest stadium, the company recognized the impact it could have on the surrounding neighborhood. To connect with these neighbors and ensure positive community impact, Protective launched Protecting Good, which focuses on the quality of life of the residents living nearby, ensuring they have strong communities, access to resources, and importantly, an advocate who will listen, address concerns, and seek solutions, where possible.