Company announces comprehensive set of measures aimed at reducing carbon emissions across business operationsARLINGTON, Va., April 19, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced its commitment to delivering net zero greenhouse gas emissions — in alignment with the Science Based Targets Initiative — by 2050 at the latest, with at least a 50% reduction by 2030, across the company’s business operations. This includes a commitment to achieving 100% renewable energy supplies across the company’s real estate portfolio. John Haley, CEO, Willis Towers Watson, said, “Climate change and its growing impact on society represents a significant global challenge. As one of the world’s leading risk advisors and experts in assessing and mitigating climate risk, Willis Towers Watson is committed to supporting measures aimed at helping to tackle climate change. The need to manage climate risk and support an orderly transition to a low-carbon, resilient economy is no longer solely a matter of conscience but a strategic and financial imperative. Today’s announcement further reinforces our company’s commitment to addressing this global challenge.” “In addition, Willis Towers Watson has been closely involved with various governments, intergovernmental organizations and civil societies on climate policy and research for some years, all of whom share the collective ambition of an orderly transition toward sustainable and resilient economies and communities. Among a variety of our collaborations and memberships, we are proud to be members of the Insurance Development Forum and ClimateWise, to support the Taskforce on Climate-Related Financial Disclosures and to play a leadership role in the Coalition for Climate Resilient Investment.” Willis Towers Watson is committed to minimizing its environmental impact and carbon emissions through improvements to energy efficiency across the company’s operations, leveraging virtual meeting technologies, promoting recycling, minimizing the waste sent to landfill, purchasing environmentally responsible office supplies and encouraging colleagues to adopt environmentally responsible habits. The company is committed to sustainable sourcing with a focus on improving suppliers’ environmental impacts by increasing demand for and use of goods that are developed in a sustainable way and that contribute to a reduced carbon footprint. About Willis Towers Watson Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com. MEDIA CONTACT MILES RUSSELL MILES.RUSSELL@WILLISTOWERSWATSON.COM +44 (0) 7903262118
ARLINGTON, Va., April 15, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson Investments today announced that it is targeting net zero greenhouse gas emissions by 2050 at the latest, with at least a 50% reduction by 2030*, in its fully discretionary delegated investment portfolios. Craig Baker, Willis Towers Watson’s global chief investment officer, said: “Climate change, and a just transition to net zero greenhouse gas emissions, is a systemic and urgent global challenge. We believe that working to achieve net zero by 2050 in our discretionary portfolios is completely consistent with the financial goals we have been given by our clients, as climate change has the potential to impact returns across multiple asset classes. We have already embedded this in our investment process and ultimately in the portfolios we are managing and stewarding. “Being strategically ahead of a net zero transition will, in our opinion, significantly improve risk-adjusted returns for our clients. This will come from two sources: ‘better beta’ due to more effective stewardship and ‘alpha’ as the mispricing of climate issues is resolved. We think that understanding this transition will be one of the biggest sources of alpha across all asset classes and that this alpha opportunity is likely to be greatest in the next few years. We will therefore target pathways to net zero that seek out pricing opportunities while delivering a reduction in emissions of more than 50% between 2015 and 2030, consistent with the goals of the Paris Agreement. “Measurement of our progress and that of the whole investment industry in stewarding the transition to a net zero and climate-resilient economy is an important issue. There is no single definitive metric that can be used to adequately measure progress, and the data and analytics in the climate space are rapidly evolving. We are therefore investing heavily in leading analytics in this space, including our proprietary Carbon Journey Plan methodology, the ‘impact measurement framework’ that we have developed together with other industry participants via the Thinking Ahead Institute, our acquisition of Acclimatise in December 2020 and the arrival of the energy finance team from the Climate Policy Initiative in January 2021. ”We will also continue to work with our advisory clients to set out and deliver on their own climate-related goals via Carbon Journey Plans, including analytics on how climate change might impact liabilities as well as assets.” In addition to integrating climate risk into its multi-asset investment process, Willis Towers Watson also offers a range of multi-manager funds where sustainable investment is a key part of the investment proposition, which clients can use to help them achieve their sustainable investment goals. Further detail on this announcement can be found here. Willis Towers Watson has $166 billion** in assets under management globally across its delegated investment business. Notes to editors: *This represents a halving of emissions compared to a 2015 baseline, consistent with the goals of the Paris Agreement. If we started managing the portfolio on a fully discretionary basis after that date or there was a significant change in the nature of the mandate subsequent to 2015, then an appropriate allowance for the shortened timeframe would be made. **As of December 31, 2020 About Willis Towers Watson Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com. Media contact Ed Emerman: +1 609 240 firstname.lastname@example.org
Insurance broker Aon's offer to sell assets in five EU countries and takeover target Willis Towers Watson's reinsurance arm may not be enough to address EU competition concerns, people familiar with the matter said on Tuesday. Aon is looking to the acquisition to create the world's largest insurance broker ahead of Marsh & McLennan Companies Inc as the industry grapples with rising claims and new challenges from the COVID-19 pandemic and climate change. Last Friday, the London-headquartered company submitted concessions to the European Union's competition watchdog, which did not disclose details in line with its policy.