Direct Line Insurance Group PLC TCFD Report and 2020 Sustainability Report (7395H)

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RNS Number : 7395H

Direct Line Insurance Group PLC

07 December 2020

Direct Line Group reports progress against the Environment, Social and Corporate Governance agenda and 2021 ambitions

Today, Direct Line Group has published its first Task Force on Climate-related Financial Disclosure (TCFD) Report and its first Sustainability Report, setting out the progress it has made against its Environment, Social and Corporate Governance (ESG) agenda. Alongside this the business has also set out its focus areas for 2021 to build on this progress.

Highlights from the two reports include:

-- Became a 100% carbon neutral business by investing in high social impact projects from 2020 onwards to offset its Scope 1, 2 and 3 emissions(1) .

-- Committed to set Science-Based Targets for Scope 1, 2 and 3 and aim to submit those to the Science-Based Targets Initiative.

-- Progressed developing a more focused, climate-related investment approach with a long-term goal of ensuring our entire investment portfolio is net carbon neutral by 2050.

-- Supported over 300,000 customers with payment deferrals, waiving cancellation fees and mileage money back.

-- Established the Community Fund which donated GBP3.5 million to over 250 charities and good causes, helping over 200,000 people.

-- Moved the majority of its people to home working whilst making its Accident Repair Centres Covid safe so its people can serve customers.

Measures that the Group will focus on in 2021 include:

-- Committing a further GBP1.5 million to the Community Fund.

-- Creating a social mobility action plan.

-- Developing a three-step strategy to significantly reduce the Group's carbon footprint year on year.

-- I ntroducing new targets to improve BAME leadership and Black representation by the end of 2022.

Penny James, CEO of Direct Line Group, said:

" As a business leader I am always acutely conscious of the impact Direct Line Group's decisions can have on all our stakeholders and never more so than this year. As we navigated the challenges that 2020 presented, our focus was on the wellbeing of our people, supporting our customers, contributing to society and stepping up to tackle climate change. By publishing these reports, we can demonstrate the progress we have made and transparency about what more we want to achieve, as we work to be a Force for Good.

"Next year we intend to play our part in helping the UK Build Back Better. Part of that effort for us will be the implementation of our new Diversity and Inclusion Strategy to make sure all our people have the opportunity to flourish and playing our part to protect the planet by accelerating the steps we're taking with the clear aim of giving back more to the planet than we take out."

Notes:

   1.     Scope 3 emissions which are under our control. 

For a copy of Direct Line Group's '2020 Sustainability Report' and 'TCFD Report', please visit www.directlinegroup.co.uk

ENDS

For more information please contact

 
 
Paul Smith                      Lisa Tremble 
 Investor Relations Director     Group Corporate Affairs and 
                                 Sustainability Director 
Tel: [phone]         Tel: [phone] 
Mobile: [phone]      Mobile: [phone] 
 

Direct Line Insurance Group plc

Direct Line Group is headquartered in Bromley. Through its number of well-known brands the Group offers a wide range of general insurance products to consumers.

These brands include Direct Line, Churchill and Privilege. The Group also provides insurance services for third parties through its partnership's division, Direct Line Group Partnerships. In the commercial sector, the Group's NIG and Direct Line for Business operations offer insurance products for businesses distributed through brokers or direct, respectively.

www.directlinegroup.co.uk

Follow Direct Line Group on twitter @DLGroupMedia

LEI: 213800FF2R23ALJQOP04

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December 07, 2020 03:30 ET (08:30 GMT)