Travelers appoints first chief sustainability officer

Property/casualty insurer Travelers Companies has created a new position to lead its environmental, social and governance (ESG) efforts across the organisation.

Yafit Cohn has been named first chief sustainability officer of the company. She will also serve as a member of the company’s ESG and disclosure committees.

Cohn joined Travelers in September 2017 as associate group general counsel and currently serves as chair of the Society for Corporate Governance’s newly formed Sustainability Practices Committee.

Under Cohn’s leadership, Travelers has developed its sustainability website with the input of key stakeholders and taking into account several sustainability disclosure frameworks. It also includes standalone reports responsive to the Sustainability Accounting Standards Board (SASB) standards for the insurance industry and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

“Deeply rooted in our culture is the recognition that industry-leading results are inextricably linked with gratified customers and business partners, engaged employees and healthy communities,” said Alan Schnitzer, chairman and chief executive officer of Travelers.

“A Chief Sustainability Officer will enable us to deepen the sophistication of our sustainability efforts, tell our story more effectively and engage more broadly as a thought leader in the related and evolving public policy dialogue.”

Cohn said: “I’m honoured to step into this new role at a company with a history of demonstrating that long-term success depends on a commitment to all stakeholders. The relationship of that commitment and our business strategy is evident throughout our new website, which conveys how we integrate our sustainability efforts with long-term value creation. I look forward to continuing to help articulate Travelers’ view of sustainability and further contributing to the important public conversation surrounding sustainable business practices.”

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