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Our Approach to Sustainability

Great Eastern's brand promise, Reach for Great, is the heart of our Sustainability Strategy. Our approach is based on three key imperatives – Accelerating the Transition to a Net Zero future, Bringing Impact to Communities and Conducting our Business Responsibly

Commitment to Net Zero by 2050

Great Eastern is committed to Net Zero by 2050 as an integral part of our delivery of long-term sustainable value for our customers, stakeholders and our communities. This underscores Great Eastern’s aspiration to make lives great for our people, planet and communities. We will navigate the net zero transition through innovative insurance solutions and sustainable low-carbon investments and operations.

The road to Net Zero requires close collaboration across businesses, governments and civil societies and across local, regional and global levels. Our Sustainability Strategy focuses on the engagement of our key stakeholders, such as investee companies, asset managers, customers, employees, community and more. Our collective efforts are key to making Net Zero a reality.

We have set up the Sustainability Taskforce helmed by our most senior executives. The Taskforce has two key objectives: 

a.    to meet our Net Zero targets 

b.    to address the key environmental, social and governance (ESG) considerations that are important for our collective future. 

The Sustainability Taskforce will be responsible for our Net Zero implementation and continual ESG integration across Great Eastern. 

The Taskforce focuses on four key areas:

  • Net Zero – to deliver on Great Eastern’s commitment to attain Net Zero in our operations, investment and insurance portfolios. We aim to achieve this based on prevailing industry standards and methodologies, consistent with Great Eastern’s business strategy and our role as an Asia-based insurer
  • Product Development – to create a product strategy and implementation plan across the Group to support our customers as the world transits into a low-carbon economy. We aim to develop products and protection solutions that have ‘green’ or social impact for our customers, across both General and Life insurance portfolios. 
  • Community and Culture – to improve the wellbeing of the communities in which we operate and create a strong corporate culture that embeds ESG principles across the Group. The Taskforce will also design and implement relevant training programmes to support our employees in our journey.
  • Regulatory, Risk Management and Disclosure – to ensure full compliance with regulatory and disclosure requirements across the Group, as well as to enhance competency in climate risk management. 

We will continually review and update our approach in line with our business strategy. Climate-related metrics and targets – both near-term and longer-term – will be disclosed and also regularly reviewed to account for evolving science-based targets and regulatory expectations.