CHATTANOOGA, Tenn., May 14, 2020 /PRNewswire/ -- A new environmental, social and governance report from Unum (NYSE: UNM) highlights the company's commitment and that of its employees in the U.S., U.K., Ireland and Poland to making a difference in people's lives.
The report covers 2019 activities and replaces the company's annual corporate responsibility report to better highlight Unum's strength in supporting employees and the communities it calls home, and the environmental, social and governance risks it faces.
The report increases disclosures in accordance with Global Reporting Initiative (GRI) standards (Core option), assessed disclosures against the Sustainability Accounting Standards Board (SASB) standards, and when possible, includes increased data disclosures and trends to provide further context.
The report outlines Unum's support of initiatives that improve public education, promote health and wellbeing, and provide arts and cultural opportunities. It also highlights progress in the areas of corporate governance, employee engagement, environmental impact and responsible business practices. Featured accomplishments include:
- More than $15 million total in Unum corporate and employee contributions to charitable causes, including the value of more than 122,000 employee volunteer hours
- A reduction of carbon equivalent emissions by Unum of more than 5% from 2018 levels, beating its goal of achieving a 3% reduction
- Completion and publication of Unum's first materiality assessment, which is one of the inputs into the company's corporate sustainability strategy
Unum also reports how it can best anticipate and respond to the evolving expectations of its shareholders. Four factors were found to be critical to the success and sustainability of Unum over the long term: accelerate growth, fund priority investments, keep customers top of mind and enhance the company's strong culture.
While great progress was made in 2019, Unum continues to identify more ways to enhance its sustainability strategy and examine the company's approach to material environmental, social and governance issues.
The 2019 Environmental, Social and Governance Report can be found in the Responsibility section of the company's website.
Unum Group provides a broad portfolio of financial protection benefits and services through the workplace, and is the leading provider of disability income protection worldwide. Through its Unum US, Unum UK, Unum Poland, and Colonial Life businesses, the company provides disability, life, accident, critical illness, dental and vision benefits that protect millions of working people and their families. Unum also provides leave and absence management services that streamline the leave experience for employers and employees, and stop-loss coverage to help self-insured employers protect against medical costs. Unum reported revenues of $12 billion in 2019 and paid $7.5 billion in benefits.
SOURCE Unum Group