COLUMBUS, Ga., Nov. 17, 2021 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) announced today that it has become a signatory of Principles for Responsible Investment (PRI), the leading global network of asset owners, asset managers and service providers committed to incorporating its six Principles, which offer a blueprint of possible actions for incorporating Environmental, Social and Governance (ESG) issues into its investment and ownership decisions.
Aflac Global Investments, as the entity responsible for investing and protecting the policyholder funds entrusted to it by Aflac Incorporated's insurance subsidiaries, published an ESG Investing Policy at the end of 2020 that applied to the nearly $129 billion of general account assets, including assets managed by third-party asset managers. Aflac Incorporated ended 2020 with impact and sustainable investments with over $1.7 billion of private and public investments in bonds and other debt instruments, as well as private equity. Then, in March 2021, Aflac Incorporated announced that it had closed its inaugural sustainability bond, which further reinforced the company's longstanding commitment to upholding its core values of a "people-first" business approach that balances purpose and profit and operating with the utmost respect for the environment and the communities it serves. By signing PRI, Aflac Incorporated and Aflac Global Investments are taking the next natural step in advancing their responsible investing framework.
President and Chief Operating Officer of Aflac Incorporated Frederick J. Crawford commented: "Integrating ESG principles into Aflac Incorporated's business has been a critical part of our operations for more than 30 years, even before it was widely referred to as 'ESG.' Naturally, our commitment extends to our core investment philosophy, which Aflac Global Investments practices for evaluating every investment decision we make. We believe that being true to what our company stands for, including the investments we make, is just as important as the products and services we provide, and becoming a PRI signatory underscores that commitment to our policyholders, to investors and to our customers. Our work to date has paved the way for what we believe is helping to make a direct and measurable positive impact on society and the environment."
Aflac Incorporated Executive Vice President; Global Chief Investment Officer and President of Aflac Asset Management LLC Eric M. Kirsch added, "When we think about the business of Aflac, which includes investments, we want to have purpose and do measurable good for society and the planet. Becoming a PRI signatory reinforces our practice of integrating ESG factors into Aflac Global Investments' core investment philosophy. We believe this leads to better decisions with respect to the sustainability of an investment and its risk and return profile, while helping to make a positive financial and social impact on all of Aflac's stakeholders."
PRI CEO Fiona Reynolds said: "We are very pleased to welcome Aflac Incorporated as a PRI signatory. The insurance sector is increasingly visible in sustainable investing, and we hope that Aflac Incorporated joining the PRI encourages others in the sector to join them in recognizing the importance of integrating ESG factors into investment and ownership decisions. We look forward to working with the team."
