Our 2021 Sustainability Report, published today, demonstrates how Legal & General puts sustainability at the forefront of strategy and decision-making. It sets out our achievements in 2021 and our focus for the future, as well as how we’re helping to tackle some of the biggest issues of our time.
26 May 2022
Sustainability is fundamental to everything we do, because our business model is based on the principle that profit and purpose are intrinsically linked. We invest in projects which do social and environmental good, while providing a strong return and great service for our shareholders, customers, and clients.
The report brings this vision to life and looks at how we have been leading through our actions over the past year.
The report details how we’re responding to major trends where we can make a positive difference, and explains how we are growing our business responsibly:
As the world continues to recover from the impacts of Covid-19 and addresses the ‘code red’ of climate change, we are confident that we can play an important role in tackling the issues that face society now and those which are emerging, including increased geopolitical instability. We are setting ambitious targets, which include 7,000 affordable homes in our housing pipeline; publishing science-based emissions reduction targets in 2023 to enable us to reach net zero by 2050; and continuing to invest in our communities. Our goal over the next five years is to increase our direct investment portfolio to £5 billion, and we will measure social value across 20% of our property assets by value by 2023.
Sir Nigel Wilson Group Chief Executive, Legal & General:
“We’re tackling the climate crisis, stepping up to ‘levelling up’, and leading the recovery. We have the scale, ambition and reach to help solve society’s challenges.”
Jack Roper, Group Head of Sustainability, Legal & General:
“Sustainability is integral to how Legal & General does business; for us it’s not an ‘optional extra’ or a ‘nice-to-do'. As we continue to recover from the pandemic, we must make sure we don’t just build back better but build back greener. The report brings to life our goals and plans for making society fairer and more inclusive over the next decade.”
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 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 2022