Boston - American International Group Inc. (AIG) adopted a policy to manage risks and capture business opportunities posed by climate change, and the president of Ceres, a Boston-based national coalition of investors and environmental groups, applauds it. "I commend AIG for being the first U.S. insurance company to address climate risk," says Mindy Lubber. "This is an important step that signals to the market and policy makers that climate change is a critical insurance issue. We look forward to working with AIG to expand on this commitment."
On May 15, 2006, New York-based AIG unveiled the new policy, which states that the company is "actively seeking to incorporate environmental and climate change considerations across its businesses, focusing on the development of products and services to help AIG and its clients respond to the worldwide drive to cut greenhouse gas emissions." The new initiative, "AIG's Policy and Programs on Environment and Climate Change" can be found on AIG's Web site at http://ir.aigcorporate.com/phoenix.zhtml?c=76115&p=irol-govresponsenviron .
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