Allstate makes emissions pledge

NORTHBROOK - Allstate Corp. said it has committed to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030. It will also set a target year for achieving a net zero investment portfolio by the end of 2025.

These actions are essential to managing climate risk and fulfilling Allstate's purpose of protecting customers and generating attractive returns for shareholders, the insurer said.

Allstate's pledge means it will exceed by 20 years the 2050 net zero target set in the Paris climate accords. It also reflects Allstate's decadeslong history of integrating strong environmental principles and practices into its business strategy.

"For 25 years, Allstate has worked to strengthen resilience to increased severe weather caused by global warming through prevention, preparedness and risk reduction," said Tom Wilson, chair, president and CEO of Allstate. "As the severity of hurricanes, tornadoes and wildfires has increased, the negative impacts on customers, shareholders and society have also grown. To supplement our short-term remediation initiatives, we are making net zero emissions commitments that are tangible and reasonable."

Allstate said it will accomplish its net zero goals by reducing the emissions and square footage of Allstate's offices, purchasing renewable energy where possible, working to reduce emissions of suppliers and removing the impact of remaining real estate through the limited purchase of credible carbon offsets where available.