Inclusive capitalism: long-term investing for positive change.
20 May 2021
Legal & General has today launched its 2020 Sustainability Report, mapping out how it will deliver its vision of inclusive capitalism against the three elements of environmental, social and governance (ESG) practice.
Legal & General’s vision of inclusive capitalism is founded on the belief that investment which delivers both positive economic and positive social outcomes is the best way to achieve progress at scale, enabling more people to benefit from economic growth and financial opportunities. By delivering this vision, Legal & General seeks to accelerate meaningful change for employees, investors, customers and wider society.
The report brings inclusive capitalism to life by reporting on progress and outcomes achieved through Legal & General’s investments in things that are good for society.
Since the UK went into lockdown in March 2020, Legal & General has invested £1.5 billion in the UK’s towns and cities, creating 30,000 jobs in the long term and supporting “levelling up” through regional economic recovery.
2020 was an extraordinary year and Covid-19 is the greatest challenge to life in recent times. Legal & General remains confident and ambitious for the future as it looks ahead to playing its role in the economic recovery.
Nigel Wilson, Group CEO: "Our inclusive capitalism agenda has never been more urgent or important. The unforeseen consequence of the pandemic has been more inequality and we risk a K-shaped economic recovery; we’re matching words and deeds to help level up society and build back better. Our purpose sets us apart in our response to Covid-19. The human and economic cost of the pandemic reaffirms our commitment to inclusive capitalism as the only way to do business responsibly."
Notes to editors
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.4 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
*at 31 Dec 2021