Nationwide, based in Columbus, Ohio and founded in 1926, is a diversified insurance and financial services organizations in the United States. Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess and surplus, specialty and surety; pet, motorcycle and boat insurance.
Nationwide has publicly available policy statements committing it to respect human rights and the ILO core labour rights. It also has a grievance mechanism accessible to all workers to raise human rights complaints or concerns. Furthermore, the insurer has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. Moreover, Nationwide discloses a public commitment to protect personal data. Nationwide includes anti-bribery and anti-corruption clauses in its contracts with direct business relationships.
In terms of its approach to senior leadership accountability, Nationwide could link the remuneration of its executive or management teams to sustainability performance criteria. Moreover, Nationwide has an opportunity to commit to gender equality and women’s empowerment, disclose the proportion of women in senior leadership roles and disclose how it addresses any gender pay gaps. The insurer has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.
Nationwide 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. Nationwide could align its climate solutions (climate bonds and renewable energy) with internationally recognised frameworks and disclose time-bound targets explicitly for its climate solutions. Regarding nature and biodiversity, the insurer could demonstrate how it is committed to minimising its negative impacts or financing regenerative solutions. Furthermore, no evidence was found regarding Nationwide’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.
Nationwide has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. Nationwide could also disclose the proportion of its total direct operations workforce for each employee category by age group and gender. To provide transparency on financial inclusivity, Nationwide 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.
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United States of America
Net income: USD 2.8 billion; Total assets: USD 296 billion