Sustainability statement

Objective

This document outlines New York Life’s environmental priorities and the actions that demonstrate our commitment to delivering for our policy holders and clients in a sustainable manner.

Overview

As a mutual company, New York Life is focused on delivering on the commitments made to our policyowners. Accordingly, the company operates to serve their long-term interests. Our commitment to sustainability is strongly aligned with how we operate and deliver value to both our policyowners and the communities we share. Key aspects of our sustainability strategy include striving to reduce the environmental impact of our operations, educate our employees and agents, and support the shift towards a lower carbon economy. Our sustainability strategy is part of our broader business strategy to create long-term value for our policy owners, while also reducing the operating costs for our business.

Scope and Applicability

This environmental policy statement applies to New York Life Insurance Company and its affiliates. The company strives to conduct business in an environmentally responsible manner consistent with our values.

Our Commitments

New York Life has long supported programs related to environmental sustainability in the workplace. These programs not only reduce our environmental impact but also the operational costs for our business. In that regard, we aspire to:

• Reduce our Environmental Impact: Reduce the direct and indirect impact of our operations on the environment by pursuing improvement in GHG emissions reductions, energy consumption, water consumption, waste production, and natural resource use. This includes:
  • Implementing initiatives to reduce New York Life’s direct and indirect GHG emissions and achieving our operational emissions reduction target of 30% reduction by 2030;
  • Conserving energy consumption through effective energy management initiatives
  • Decreasing dependency on natural resources by reducing consumption of energy, plastics, paper, water, and other materials;
  • Prioritizing healthy and efficient office spaces;
  • Reducing the amount of waste produced, increasing the amount of reuse and recycling, and encouraging employees to repurpose resources, where possible;
  • Replacing corporate business travel with the use of collaboration tools, where possible; and
  • Finance and invest in solutions that support the transition to a lower carbon and more sustainable economy.
• Sustainable Supply Chains: Identify and evaluate opportunities to understand the environmental impact of our value chain through collaboration with suppliers, contractors, and other business partners.
• Performance Measurement: Drive continuous improvement in the environmental performance of our facilities by measuring and monitoring key performance indicators, including energy consumption; electricity use; water consumption; waste diversion; renewable energy; and Scope 1, 2, and 3 GHG emissions.
• Learning and Development: Provide learning, development, and engagement opportunities for all employees to enhance awareness on sustainability issues and ways to reduce environmental impact at the office, at home, and in the community. This includes a monthly Corporate Responsibility webinar series open to all employees and agents, a dedicated educational pathway on our Learning Exchange, and CANDRIAM Academy.
  • CANDRIAM Academy is the world’s first free-to-access accredited training platform for sustainable and responsible investing and was created by CANDRIAM, a New York Life Investments company.
• Stakeholder Engagement: Engage customers, employees, agents, institutional investors, and the communities we serve on New York Life’s corporate responsibility priorities and report through annual corporate responsibility reports, press releases, and other communications.