State Farm Releases its First Environmental, Social and Governance Report
State Farm® today shares an Environmental, Social and Governance Snapshot to convey its commitment and actions toward the concept of “Good Neighbors. Better World.”
This ESG report, the first of its kind in the Company’s history, summarizes 2020 State Farm work in the areas of environmental sustainability, social impact, and responsible governance of company operations.
“For nearly one hundred years, State Farm has functioned on the belief that being a good neighbor means being good stewards of the neighborhoods we serve,” said State Farm Chairman, President & CEO Michael Tipsord. “We want to help make a better world by building resilient futures, empowering good neighbors, and protecting what matters.”
Highlights of the new report include:
- Increased energy efficiency: More than 80% of State Farm facilities have an Energy Star Score of 75 or higher.
- $100 million committed in support for minority communities for issues of racial equity and justice over the next 5 years.
- 98,000 hours of employee & agent volunteering, which generated $647,500 in related grant funding
- Evolving workforce demographics: women comprise 57% of employees and 37% of executive roles. Minorities hold 24% of executive roles.
To accompany this report on 2020 activity, State Farm is also announcing a new environmental commitment to reduce its greenhouse gas (GHG) emissions by 50% by the end of 2030.
State Farm is the largest auto and homeowner insurance provider in the U.S., with more than 85 million policies and accounts.