State Farm Announces Greenhouse Gas Reduction Goal and Release of First Environmental, Social, and Governance Report
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BLOOMINGTON, Ill., March 30, 2021 /PRNewswire/ -- State Farm® is pleased to share a new environmental sustainability goal for the future and a new report documenting the Company's actions and progress around the concept of "Good Neighbors. Better World."
Demonstrating commitment to an environmentally sustainable future, State Farm will reduce its greenhouse gas (GHG) emissions by 50 percent by the end of 2030.
In conjunction with this news, State Farm is releasing its first-ever Environmental, Social, and Governance Snapshot report, which summarizes 2020 State Farm work in the areas of environmental sustainability, social impact, and responsible governance of company operations.
"For nearly one hundred years, State Farm has functioned on the belief that being a good neighbor means being good stewards of the neighborhoods we serve," said Stat Farm Chairman, President & CEO Michael Tipsord. "We want to help make a better world by building resilient futures, empowering good neighbors, and protecting what matters."
Highlights of the new ESG report include:
- Increased energy efficiency: More than 80% of State Farm facilities have an Energy Star Score of 75 or higher.
- $100 million committed in support for minority communities for issues of racial equity and justice over the next 5 years.
- 98,000 hours of employee & agent volunteering, which generated $647,500 in related grant funding.
- Evolving workforce demographics: women comprise 57% of employees and 37% of executive roles. Minorities hold 24% of executive roles.
For its greenhouse gas reduction goal, State Farm will initially emphasize reductions in direct GHG emissions, such as those from company facilities and vehicles; and indirect GHG emissions, such as those from the generation of electricity supplied to the Company.
State Farm has already made progress toward this goal, with recent facility efficiency measures detailed in its ESG report along with a recently-finalized renewable power purchase commitment for its Richardson, Texas office and data center facilities. State Farm is also exploring sustainable solutions for fleet vehicles, energy efficiency, capital projects, virtual power purchase agreements, and green natural gas.
ContactKevin Gamble Public Affairs Specialist 573-499-2184 | firstname.lastname@example.org
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SOURCE State Farm
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