Liberty Mutual

In terms of senior leadership accountability, the responsibility for sustainability issues within Liberty Mutual lies with the board. Furthermore, Liberty Mutual discloses a target to increase the proportion of women employees by 53%. Liberty Mutual also discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.

Liberty Mutual discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are.

Liberty Mutual has publicly available policy statements committing it to respect human rights and the health and safety of workers. It also has a grievance mechanism accessible to all workers and external stakeholders to raise human rights complaints or concerns as well as complaints regarding bribery and corruption. Moreover, Liberty Mutual has a policy prohibiting bribery and corruption and takes steps to identify and address bribery and corruption. The insurer discloses the proportion of women in its total direct operations workforce for each employee category and the proportion of its total direct operations workforce covered by collective bargaining agreements.

In terms of its approach to senior leadership accountability, Liberty Mutual has an opportunity to link the remuneration of its executive and management teams to sustainability performance criteria. Liberty Mutual could also provide a public commitment to gender equality and women’s empowerment, reach at least 40% female representation in senior leadership positions and disclose the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category. Furthermore, it could disclose the actions taken to address any pay gaps. Moreover, Liberty Mutual has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.

Liberty Mutual has an opportunity to disclose a target to reach net-zero financed emissions by 2050 and the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Liberty Mutual could also align its climate solutions (alternative energy) with internationally recognised frameworks and disclose time-bound targets explicitly for its climate solutions. Liberty Mutual could also demonstrate how it is committed to minimising the negative impacts it has on nature and biodiversity. No evidence was found regarding Liberty Mutual’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects.

Liberty Mutual has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. It could also disclose the proportion of its total direct operations workforce for each employee category by age group. To provide transparency on financial inclusivity, Liberty Mutual has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.