Boston, September 26, 2025 – American International Group (AIG), a leading global insurer, published a climate transition plan this summer outlining how it will address climate-related risks across its operations, underwriting and investments. AIG announced that it would create the plan in 2024 following discussions on a related Green Century shareholder proposal.
“AIG’s climate transition plan shows investors that the company is dedicated to meeting its goals to cut climate emissions and address climate risk,” said Leslie Samuelrich, president of Green Century. “Now is a critical moment when insurance companies need to choose between advancing renewable energy or continuing to insure fossil fuel projects and thereby facilitate their disastrous effects.”
In 2022, AIG set targets to reach net zero greenhouse gas emissions across its underwriting and investment portfolios by 2050 and source 100% renewable energy for its operations by 2030. The new transition plan details key strategies and progress against these goals with an aim to increase the credibility and transparency of AIG’s sustainability strategy.
The insurance industry faces heat
Between 2023 and 2024, according to the research firm Swiss Re, insured losses worldwide increased by $21 billion (17%), with about 94% of insured losses attributable to natural disasters in 2024. Counterproductively, insurance companies continue to underwrite and invest in fossil fuel projects that are increasing climate risk and decreasing their bottom lines.
Consumers are also feeling the consequences of growing emissions. In response to footing higher bills from natural disasters, insurers have raised premiums and cut coverage in high-risk areas. The Consumer Federation of America reported that insurance companies hiked premiums in 95% of U.S. ZIP codes between 2021 and 2024.
“Climate talk is cheap, but not for customers’ wallets,” said Green Century Shareholder Advocate Giovanna Eichner. “This plan demonstrates that AIG takes seriously the threat of climate change to its business and the planet.”