New York Life Releases 2020-2021 ESG Report

Business Wire

NEW YORK--(BUSINESS WIRE)--
New York Life, America’s largest mutual life insurer¹, today released the company’s 2020-2021 Environmental, Social, and Governance (ESG) Report. The report highlights New York Life’s approach to ESG, which is rooted in our core values of humanity and integrity, supported by our mutuality and financial strength.

“We must be thoughtful about—and, more importantly, accountable for—our decisions and actions because, in the bigger picture, we are all in this together,” write CEO and President Craig DeSanto and Chairman Ted Mathas in the Report’s opening letter. “Our impact extends beyond the scope of our business operations and supporting our most immediate constituents. We have been putting our financial and other corporate resources behind organizations and initiatives aimed at creating opportunities and promising futures for people from all walks of life, as well as addressing the economic and societal inequalities that have become increasingly apparent in our nation.”

The Report covers many aspects of New York Life’s business—from the company’s long-term strategy to be there for our policy owners, to the way the company strives to be a force for good in society. Additionally, this report also includes our first Taskforce on Climate-Related Financial Disclosures (TCFD) index, which discusses the ways we are managing climate risk at New York Life.

Highlights from the report include:

The results of our updated ESG materiality assessment
Employee training and development highlights
New metrics and targets from the New York Life Foundation, including volunteer hours and social justice investments
New target for our supplier diversity programs
In-depth discussion from our asset management business on its integration of ESG
Details on our reduction in greenhouse gas emissions since 2019
Our efforts around reducing waste and single-use plastics within our operations
How we handle ESG from a governance perspective

To view New York Life’s 2020-2021 ESG Report, visit here.

About New York Life

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest¹ mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.²

¹Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.

²Individual independent rating agency commentary as of 6/22/2022: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).