exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
45 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Our Commitment to the Future
While we have made significant progress, we have more work to do to reduce our impact on the environment. Aflac will continue to focus on
reducing energy consumption, water use, and waste, investing in new technologies and approaches that help lower greenhouse gas emissions,
employ more renewable energy sources, and make our facilities more sustainable.
To learn more about Aflac Incorporated’s TCFD reports and latest Climate Change submission to CDP, click here.
Scope 1, Scope 2, Scope 3 GHG Emissions
The company engaged a third party to review and provide limited assurance on our 2021 Scope 1, Scope 2 and five categories
under Scope 3 (representing 96% of
Keyword: governance
46 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Workforce
We know doing the right thing is good for business, and we do that every day by investing first in
our Aflac family. In both Japan and the United States, the company strives to develop an engaged
employee culture by supporting career development, emphasizing work/life balance, listening to
our employees’ feedback and ideas, and ensuring we show our appreciation for their hard work.
Our overarching human capital philosophy is, “If you take care of your employees, your employees
will take care of the business.”
Employee Wellness and • Ergonomics resources, including standing desks and chairs, to
assist in creating the most effective and comfortable
Work/Life Balance
work envir
Keyword: governance
47 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
• Multiple employee health care facilities, known as the Aflac Care Aflac Japan All Ribbons
Clinics, that offer sick care, health coaching, health assessments,
and more.
• Offering programs from benefit partners that allow employees, no
matter where they are located across the country, to participate in
a full and robust wellness program.
• The Employee Assistance Program (EAP), which helps employees
cope with some of life’s struggles including substance abuse,
family matters, marital concerns, and financial and legal problems.
• On-site chaplains that are available in person and virtually to
support the mental and spiritual well-being of Aflac employees.
• Financial coaching to help
Keyword: governance
48 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Employee Engagement Aflac Japan also provides challenging assignments, opportunities
to advance and career support in the form of individual training
While celebrating our employees is important, it is not the only
and Career Development Plans. All Aflac Japan managers receive
way to drive engagement. We strive to create an environment
human capital management training, and are offered resources
where employees can realize their fullest potential. To do so, Aflac
through a variety of means, including webinars and micro-
prioritizes employee engagement and conducts regular surveys to
learning, to support employee career development. Aflac Japan is
identify where we can do more. After c
Keyword: governance
49 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Japan Work SMART
Aflac Japan promotes workstyle reform through its “Aflac Work SMART” initiative. This initiative aims to maximize organization-wide
performance by supporting employee work-life balance through the development of systems and supporting infrastructure that allow
each employee to review their own workstyle and achieve a way of working not limited by “time” or “place.”
Workstyles not constrained by “Time” Aflac Japan strives to create an environment where employees
can realize work-life management, and we continue to make
Aflac Japan offers every employee the opportunity to work a
progress. For example:
flexible schedule through shift work, flex-time, and paid time off,
w
Keyword: governance
50 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Our Workforce Diversity
Aflac’s culture is rooted in caring for others and creating a sense
of belonging for all employees. In 2001, Aflac Incorporated
Chairman & CEO Dan Amos, led the cause to create the first
diversity council at Aflac. Though time has passed, our
commitment to diversity continues to this day with nine employee-
led councils globally. Our employees are the bedrock of our
company and we greatly benefit from their diverse backgrounds,
experiences and ideas. Diversity, equity and inclusion (DEI) has
continued to be a key theme in the Aflac culture and is critical to
our human capital strategy.
At Aflac, we are committed to sustaining a culture that fosters a
sense of b
Keyword: governance
51 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Community
Support company values and brand through a surge in social
action initiatives. In 2021, we launched a global investments At the highest levels of Aflac’s
strategy that supports minority partners and identifies investments
leadership and throughout our
that drive DEI and support social justice. In 2022, our GI teams
organization, we are committed to
sourced over $1.7 billion in Sustainability and DEI Investments.
fostering a diverse and inclusive
Last year, more than 50% of our corporate donations addressed
workforce, just as we have for
community-level disparities and positively impacted underserved
decades.
populations, including people of color, low-income families and
ind
Keyword: governance
52 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Talent Our workforce represents the
We are laser-focused on developing and nurturing key communities we serve
partnerships that enhance our talent pipeline to diverse
Aflac is also mindful of the communities in which we operate,
candidates. In 2022, Aflac was a founding investor of Bridge
striving to be reflective of their diversity and actively working to
Builders-Technology Association of Georgia which aims to
mirror it. We recognize that our success is often defined by what
advance 1,000 Black people in technology careers over the next
we do each and every day when others aren’t looking. It’s how we
five years. We expanded our partnerships with Historically Black
treat all people.
Keyword: governance
53 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
The company’s corporate culture reflects its commitment to diversity and
inclusion at all levels of the company. For example, at the end of 2022:
Aflac Japan EMPLOYEES WHO WOMEN IN WOMEN IN MANAGER OR
ARE WOMEN LEADERSHIP ROLES GENERAL MANAGER
Aflac Japan’s goal is to increase POSITIONS*
the percentage of women in
54% 33% 25%
manager or general manager
positions by 2025.
Aflac U.S. EMPLOYEES WHO WOMEN IN SENIOR MANAGEMENT
ARE WOMEN LEADERSHIP ROLES WHO ARE WOMEN
Aflac U.S.’s goal is to increase
66% 50% 31%
diversity within senior
management by 5% by 2026.
EMPLOYEES PEOPLE OF COLOR IN SENIOR MANAGEMENT WHO
WHO ARE PEOPLE LEADERSHIP ROLES ARE PEOPLE
OF COLOR OF COLOR
49% 30% 29%
Board o
Keyword: governance
54 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
U.S. Employee New Hires • In 2021, 375 job titles held by both men and women at Aflac
U.S. were reviewed, accounting for 3,675 employees. Among
69% 62% those positions, the salary ratio (compensation for women
relative to men) was at par: 99.5%.
women people of color Aflac Japan extended its new human capital management system
for management to all employees in 2022. Under the new system,
jobs are assigned specific grades according to the respective
At Aflac, we know that Diversity, equity and inclusion goes
position duties and responsibilities. Factors such as gender, age,
beyond the required EEO-1 reporting in the U.S., but many
and race are not used in determining a job grade, and
Keyword: governance
55 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Aflac Japan communicates the importance of
promoting diversity to society by participating in
various events and speaking at lectures. Yoko
Kijima, Director, Executive Vice President (at the
time), giving a speech at Global Diversity
Conference 2022 in November 2022.
Developing an inclusive workforce In addition, Aflac Japan established Aflac Heartful Services Co.,
Ltd. in 2009, as a special subsidiary that promotes the hiring of
Through its Women’s Empowerment Program, Aflac Japan
employees with disabilities. Aflac Heartful Services has
surpassed its goal of reaching 30% of women in leadership
established a work environment and assigned supervisors with
positions in 2020 (assistant m
Keyword: governance
56 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Care on Purpose: Aflac’s
Strategic Philanthropy
At Aflac, we believe in purposeful partnerships and have been giving our support to organizations and communities working to help close
health and wealth gaps. As not only the pioneer of supplemental health insurance in the United States and Japan, but also the leader in
both countries, we have spent more than 67 years understanding the hardships people face when diagnosed with cancer. We also
realize that this diagnosis impacts the entire family. With that in mind, many of our causes are intended to help people facing cancer.
As a company, we direct more than 59% of our philanthropic contributions, including charitable donations, commun
Keyword: governance
57 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
The inspiration for Aflac’s efforts to help address challenges brought
on by sickle cell disease, in relation to larger disparities in pediatric
health care, are largely centered on the Aflac Cancer and Blood
Disorders Center of Children’s Healthcare of Atlanta: The center is the
most prolific provider of sickle cell disease care in the United States,
caring for nearly 2,000 pediatric patients each year and regularly
performing—blood and marrow transplants. In 2021, it was rated No. 1
in the nation for total sickle cell disease discharges with 2,000-plus
total patient visits, according to Public Health Information
System Data.
NYSE Global Giving Campaign
At the end of November, Aflac
Keyword: governance
58 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
My Special Aflac Duck® and up, his or her very own My Special Aflac Duck completely free
of charge. Through the Aflac Childhood Cancer Campaign, Aflac
Aflac Incorporated believes in doing good for future generations.
Cancer and Blood Disorders Center, and now, My Special Aflac
That takes shape in many ways within the Aflac family, but most
Duck, Aflac is committed to providing support, hope, time and
prominently in our dedication to children and families facing
resources to children with cancer.
childhood cancer. We know it takes more than medicine to help
children cope with cancer. That’s why Aflac delivers My Special In the U.S., Aflac has donated My Special Aflac Duck to nearly
Afl
Keyword: governance
59 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
My Special Aflac Duck Delivery Events
To learn more about My Special Aflac Duck or
In some hospitals, recipients of My Special Aflac Duck take part in request ducks for your organization or child
an exciting scavenger hunt to meet their very own robotic
undergoing cancer or sickle cell treatment, please
companion. Following the hunt, patients and their families
visit: Aflac Childhood Cancer Campaign.
celebrate the new friendship through various activities like
creating a birth certificate and beaded necklace for their duck,
coloring, and more. In 2022, Aflac U.S. hosted eight My Special
Aflac Duck delivery events at the following locations: Cooper
Hospital, Children’s National, Camp S
Keyword: governance
60 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Aflac Japan Parents House
A large part of being a well-respected and trusted company
includes being a compassionate and socially responsible
company. Aflac Japan recognizes that social responsibility is
an essential element of our purpose. As a company, the Aflac
Japan family cares deeply about our communities, and it is our
privilege to help where we can. When a child is diagnosed with
cancer or other serious medical conditions, he or she often must
travel to Tokyo or Osaka from other parts of Japan to receive
treatment, which is often an ongoing process. To help provide a
level of assistance, the first Aflac Parents House, which was
established in 2001 through a donation from Aflac
Keyword: governance
61 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Aflac Holiday Duck Program that exist, particularly as it relates to the diversity of blood stem
cell and marrow registries.
The 2022 Aflac Holiday Duck arrived with his own box of cheer
Tissue types used in matching are inherited and unique, so
this year! Our favorite holiday plush sported a festive candy cane-
patients are most likely to match someone of the same ethnic
striped stocking cap and held a bright green box tied with a red
ancestry or ethnic background. Given the diversity in tissue types,
satin bow in his wings. Use your imagination to guess what might
the odds of a Black or African American patient finding a match is
be inside! 100% of net proceeds benefit the Aflac Chi
Keyword: governance
62 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Cancer Survivor Support Cancer Awareness Activities
Aflac Japan believes that society needs “open counseling spaces” Aflac recognizes the duty and responsibility that comes with being
that accept and mentally support the anxiety and loneliness of the pioneer and leading company for cancer insurance. As the
people who have experienced cancer, so that they can feel like pioneer of cancer insurance, consumers have placed their trust in
themselves. Aflac Japan supports organizations that continue to our company and our products. We work hard each day to be
good stewards of that trust. At Aflac Japan, for example, in
act as "open forums for consultation" through donations and other
coopera
Keyword: governance
63 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
In 2022, in-person events and volunteer activities have resumed A street fund-raising campaign for the
for the first time in three years in Aflac Japan.
"Aflac Scholarship Fund for Childhood
Cancer Survivors/Children of Cancer
Victims"
In November, a street fund-raising campaign for the "Aflac
Scholarship Fund for Childhood Cancer Survivors/Children of
Cancer Victims" was held in front of Chofu Station, where not only
employees but also Chofu City officials participated, raising a
significant amount in donations.
Aflac Classic Charity Concert
During the Global Gold September Campaign, Aflac Japan hosted
a classical music charity concert that brought together
stakeholders. At the venue
Keyword: governance
64 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Representing the CareGrants
Under-represented
As part of Aflac’s mission to support those that disproportionately
fall into the gap, Aflac has created CareGrants. CareGrants are
Aflac has supported HBCUs for more than 20 years. In 2021, Aflac
funds from Aflac to help individuals, families and communities
donated $75,000 to the Jackson State University Athletic
close the health and wealth gap within those communities and for
Department for professional development, as well as $25,000 as
consumers in need to shine a light on the urgent issue of
a supporting partner of Deion Sanders' Football Camp. In 2022,
medical debt.
Aflac took this a step further and donated an additional $100,000
t
Keyword: governance
65 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Consumer CareGrants
Aflac hosted three Consumer CareGrants where $5K grants were
delivered to hard-working Americans who have recently been
burdened by medical expenses. In 2022, 60 people were
awarded $5,000 each.
The Shadock family speaking to
Aflac President Virgil Miller, who
recently announced that they
had received their CareGrant
SPOTLIGHT
Libby’s Legacy
SPOTLIGHT
On October 7, 2022, Aflac sponsored ESPN’s First Take segment,
Shadock Family
which took place during HBCU Week in Orlando at State Farm
The Shadock family was a CareGrant recipient in October 2022. Fieldhouse in ESPN’s Wide World of Sports. As part of the
John and Allison were married only a short time before he was
Keyword: governance
66 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Habitat for Humanity
Being a part of the Aflac family means more than just where we go to work each day; it means being a part of a company dedicated to
making a difference in the communities where we live and work. Habitat for Humanity has been a part of Aflac’s mission of giving back for
more than 16 years and is a testament not only to our company’s commitment, but also to our employees, who again have shown us the
true meaning of teamwork. This home could not have been built in six weeks without the hard work and commitment of more than 200
Aflac employees and the fantastic Habitat for Humanity crew.
67 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRO
Keyword: governance
68 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Disclosure Location
2-9 Governance structure and composition Governance — Aflac Incorporated Global Governance & ESG, pages 33-34
2022 Proxy Statement: Corporate Governance Matters — Our Board and Committees, pages 23-28; Board
Responsibilities — Commitment to Corporate Social Responsibility and Sustainability, page 30
Guidelines
2022 TCFD Report
2022 CPD Report
2022 Proxy Statement: Voting Roadmap — Director Nominees Summary, pages 8-9; Corporate Governance Matters
— Board Composition — Director Nominees, pages 14-19
Governance, pages 32-35
2022 Proxy Statement: Voting Roadmap — Director Nominees Summary, pages 8-9; Corporate Governance
Matters — Board Composition — Director Nominees
Keyword: governance
2022 Proxy Statement: Corporate Governance Matters — Board Composition — Director Nominees, pages 14-19
Governance, pages 32-35
2022 Form 10-K: Item 1. Business — Human Capital — Diversity, Equity & Inclusion, page 11
2022 Proxy Statement: Voting Roadmap — Director Nominees Summary, pages 8-9; Corporate Governance Matters
— Board Composition — Board of Director Nominees Skills, Experience, and Diversity, page 20; Board Succession
Planning and Refreshment Process — Board Changes since 2017, page 20
2022 Proxy Statement: Voting Roadmap — Director Nominees Summary — Diversity of Skills, Experience And
Attributes, page 8; Corporate Governance Matters — Board Composition — Director Nominees, pages 14- 19; Board of
Director Nominees Skills, Experience, and Diversity, page 20; Board Succe
Keyword: governance
2-10 Nomination and selection of the 2022 Proxy Statement: Corporate Governance Matters — Board Composition — Director Nominating Process, pages 21-22
highest governance body 2022 Proxy Statement: Corporate Governance Matters — Board Composition — Director Nominating Process
— Consideration of Director Candidate from Shareholders, page 22
Guidelines
2-11 Chair of the highest governance body Mr. Daniel P. Amos has served as Chairman of the Board since 2001 and as CEO since 1990.
2022 Proxy Statement: Corporate Governance Matters — Our Board and Committees — Board Leadership Structure,
page 23
2-12 Role of the highest governance Governance — Aflac Incorporated Global Governance & ESG — Board Oversight of ESG, page 34
body in overseeing the management 2022 Proxy Statement: Corporate Governance Matters — Our Board and Com
Keyword: governance
2022 Proxy Statement: Corporate Governance Matters — Our Board and Committees — Committee Structure,
pages 24-27
2-13 Delegation of responsibility for Governance — Aflac Incorporated Global Governance & ESG — Board Oversight of ESG, page 34
managing impacts 2022 Proxy Statement: Corporate Governance Matters — Our Board and Committees — Committee Structure, pages 24-27;
Board Responsibilities — Commitment to Corporate Social Responsibility and Sustainability, page 30
2022 CPD Report
2022 TCFD Report
2-14 Role of the highest governance body in Governance — Aflac Incorporated Global Governance & ESG — Board Oversight of ESG, page 34
sustainability reporting 2022 Proxy Statement: Corporate Governance Matters — Our Board and Committees — Committee Structure, pages 24-27;
Board Responsib
Keyword: governance
69 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Disclosure Location
2-16 Communication of critical concerns 2022 Proxy Statement: Corporate Governance Matters — Board Responsibilities — Shareholder Outreach —
Communications with Directors, page 32
Aflac does not disclose this information.
2-17 Collective knowledge of the highest Guidelines
governance body
2-18 Evaluation of the performance of the 2022 Proxy Statement: Corporate Governance Matters — Board Composition — Board Self-Evaluation, page 22
highest governance body Frequency of the evaluations: Annual
2-19 Remuneration policies Information on director compensation (starting on page 32) and compensation analysis and executive compensation
(starting on page 37) is included in
Keyword: governance
2022 Proxy Statement: Corporate Governance Matters — Director Compensation — Retirement Plans, page 33;
Executive Compensation — Compensation Discussion and Analysis — 2021 Executive Compensation —
Other Compensation — 401(k) Savings and Profit Sharing Plan, page 55; Executive Compensation Tables — Pension
Benefits, pages 62-63
ESG Highlights, pages 28-31
2022 Proxy Statement: Corporate Governance Matters — CD&A At-A-Glance — 2021 Management Incentive Plan
Performance, page 36; Executive Compensation — Compensation Discussion and Analysis — MIP Target-Setting
Considerations, pages 46-47; 2021 Executive Compensation — 2021 MIP Targets and Actual Performance — ESG
Modifier Metrics, pages 50-52
2022 CPD Report
2022 TCFD Report
2-20 Process to determine remuneration 2022 Proxy Statemen
Keyword: governance
t: Corporate Governance Matters — Director Compensation, pages 32-34
Guidelines
2022 Proxy Statement: Corporate Governance Matters — Board Responsibilities — Shareholder Outreach — Our Approach,
page 31; Executive Compensation — Compensation Discussion and Analysis — Executive Summary — Outcome of 2021
Say-on-Pay Vote, page 43
Aflac Incorporated ESG Policies and Statements
2022 Proxy Statement: Executive Compensation — Compensation Discussion and Analysis — Compensation Design
and Philosophy — Process of Setting Executive Compensation — Independent Compensation Consultant, page 44
2022 Proxy Statement: Voting Roadmap — Executive Compensation Highlights — Recent Say-On-Pay Votes, page 11;
Executive Compensation — Compensation Discussion and Analysis — Executive Su
Keyword: governance
2-23 Policy commitments Governance — Aflac Incorporated Global Governance & ESG — Ethics and Compliance, pages 34-35
Code of Conduct
Supplier Code of Conduct
ESG Policies and Statements
Governance — Aflac Incorporated Global Governance & ESG — Board Oversight of ESG, page 34
2022 Proxy Statement: Corporate Governance Matters — Board Responsibilities — Governance Documents —
Code of Business Conduct and Ethics, page 32
2-24 Embedding policy commitments ESG Policies and Statements
Code of Conduct
Supplier Code of Conduct
Governance — Aflac Incorporated Global Governance & ESG — Ethics and Compliance, pages 34-35
2-25 Processes to remediate Aflac does not disclose this information.
negative impacts
70 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Keyword: governance
Governance — Aflac Incorporated Global Governance & ESG — Ethics and Compliance, pages 34-35
ESG Policies and Statements
2-27 Compliance with laws and regulations Aflac does not disclose this information.
2-28 Membership associations About Aflac U.S. and Aflac Japan — Aflac Incorporated Awards, Recognition, Engagement and Memberships 2022,
page 22
2022 CPD Report
2-29 Approach to Governance — Stakeholders' Prioritization of ESG at Aflac, page 34
stakeholder engagement
2-30 Collective bargaining agreements
GRI 3: MATERIAL TOPICS 2021
3-1 Process to determine Governance — Board Oversight of ESG, page 33; Stakeholders' Prioritization of ESG at Aflac, page 34
material topics
3-2 List of material topics Governance — Stakeholders' Prioritization of ESG at Aflac, page 34
None
3-3 Management of m
Keyword: governance
Governance — Aflac Incorporated Global Governance & ESG — Ethics and Compliance, pages 34-35
Code of Conduct
Supplier Code of Conduct
ESG Policies and Statements
ESG Highlights, pages 28-31; Governance — Aflac Incorporated Global Governance & ESG — Ethics and Compliance, pages
34-35; Protecting Our Customers and Data with Cybersecurity — Security Awareness and Training, pages 37-38
Environment — Scope 1, Scope 2, Scope 3 GHG Emissions, page 48
ESG Highlights, pages 28-31; Environment — Greenhous Gas Reduction Goals, page 45; Social — Human Capital
Management — Our Workforce Diversity — Accountability, page 56; Our workforce represents the communities we
serve, pages 56-57
ESG Highlights, pages 28-31; Environment — Progress on Greenhouse Gas Reductions, pages 45-46; Social —
Human Capital
Keyword: governance
Governance — Stakeholders' Prioritization of ESG at Aflac, page 34
GRI 201: ECONOMIC PERFORMANCE 2016
201-1 Direct economic value generated Revenues: $19.5 billion
and distributed About Aflac U.S. and Aflac Japan — Leading Provider of High-Quality, Supplemental Insurance, page 7; 2022 Aflac
Japan Financial Highlights, page 9; Financial Highlights — Aflac Incorporated (NYSE: AFL) Investor Facts — Selected
Financial Data, page 26
2022 Form 10-K: Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations —
Executive Summary — Performance Highlights, page 33
ESG Highlights — Community Investment and Philanthropy, page 31; Investments, pages 40-43; Social — Aflac Childhood
Cancer Campaign, pages 62-73
2022 Proxy Statemen
Keyword: governance
71 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Disclosure Location
201-3 Defined benefit plan obligations and 2022 Form 10-K: Item 8. Financial Statements and Supplementary Data — 14. Benefit Plans — Stock Bonus Plan,
other retirement plans page 174
2022 Proxy Statement: Executive Compensation — Compensation Discussion and Analysis — 2021 Executive
Compensation — Other Compensation — Defined Benefit Pension Plans, page 55; Executive Compensation Tables —
Pension Benefits — Qualified Defined Benefit Pension Plan, page 62
201-4 Financial assistance received None
from government
GRI 302: ENERGY 2016
302-1 Energy consumption within 2022 CPD Report
the organization
GRI 305: EMISSIONS 2016
305-1 Direct (Scope 1) GHG emissions Environmen
Keyword: governance
72 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Disclosure Location
GRI 403: OCCUPATIONAL HEALTH AND SAFETY 2018
403-6 Promotion of worker health Workforce: Aflac U.S. — Employee Wellness and Work/Life Balance, pages 49-50; Workforce: Aflac Japan —
Employee Wellness and Work/Life Management, page 52
2022 Form 10-K: Item 1. Business — Human Capital — Health and Wellness, page 10
ESG Policies and Statements
GRI 404: TRAINING AND EDUCATION 2016
404-2 Programs for upgrading employee skills Workforce — Talent Development, page 52; Workforce — Japan Work SMART, page 53
and transition assistance programs
2022 Form 10-K: Item 1. Business — Human Capital — Talent, page 10
ESG Policies and Statements
GRI 405: DIVERSITY AND EQUAL OPPORTUNITY
Keyword: governance
405-1 Diversity of governance bodies ESG Highlights — Workforce Diversity, page 31; Governance, pages 32-35; Social — Human Capital Management — Our
and employees Workforce Diversity — Accountability, page 56; Our workforce represents the communities we serve, pages 56-57
2022 Form 10-K: Item 1. Business — Human Capital — Diversity, Equity & Inclusion, page 11
2022 Proxy Statement: Voting Roadmap — Director Nominees Summary, pages 8-9; Corporate Social Responsibility and
Sustainability Highlights, page 12; Corporate Governance Matters — Board Composition — Board of Director Nominees
Skills, Experience, and Diversity, page 20; Board Succession Planning and Refreshment Process — Board Changes
since 2017, page 20
EEO-1 Report
Governance, pages 32-35; Workforce — Our Workforce Diversity, Our workforce represents the communities we serve
Keyword: governance
2022 Proxy Statement: Voting Roadmap — Director Nominees Summary, pages 8-9; Corporate Governance Matters —
Board Composition — Board of Director Nominees Skills, Experience, and Diversity, page 20; Board Succession
Planning and Refreshment Process — Board Changes since 2017, page 20
ESG Highlights — Workforce Diversity, page 31; Workforce — Our Workforce Diversity, Our workforce represents the
communities we serve, pages 56-57
2022 Proxy Statement: Voting Roadmap — Corporate Social Responsibility and Sustainability Highlights, page 12
405-2 Ratio of basic salary and remuneration Workforce — Our Workforce Diversity, Our workforce represents the communities we serve, pages 56-57
of women to men
GRI 415: PUBLIC POLICY 2016
415-1 Political contributions 2022 Aflac Political Activity Report
GRI 417: MARKETING AND LABELING 2016
417-3 Incide
Keyword: governance
73 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Sustainability Accounting Standards Board (SASB)
Index
Table 1. Sustainability Disclosure Topics & Accounting Metrics
Unit of
Topic Accounting Metric Category Measure Code Response or Location
Transparent Information & Total amount of monetary losses as a Quantitative Reporting FN-IN-270a.1 None
Fair Advice for Customers result of legal proceedings associated currency
with marketing and communication of
insurance product-related information to
new and returning customers
Complaints-to-claims ratio Quantitative Rate FN-IN-270a.2 Aflac does not disclose this information.
Customer retention rate Quantitative Rate FN-IN-270a.3 Aflac does not disclose this information.
Description of appro
Keyword: governance
Governance Factors in Summary, page 3
Investment Management Description of approach to incorporation Discussion n/a FN-IN-410a.2 Investments, pages 40-43 2022 Task Force
of environmental, social, and governance and Analysis on Climate-related Financial Disclosures
(ESG) factors in investment management Report: Managing Climate-related Risks and
processes and strategies Opportunities — Climate-specific Risk
Assessment Processes, pages 9-11; Risk
Management Process, pages 11-12; Risk
Integration Process, page 13 2023
Sustainability Bond Report: Appendix —
Sustainability Bond Framework, pages 11-16
Aflac Incorporated ESG Policies and
Statements: Aflac Incorporated Responsible
Investment Policy
Policies Designed to Net premiums written related to energy
Keyword: governance
74 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Unit of
Topic Accounting Metric Category Measure Code Response or Location
Environmental Risk Probable Maximum Loss (PML) of insured Quantitative Reporting FN-IN-450a.1 N/A
Exposure products from weather-related natural currency
catastrophes
Total amount of monetary losses Quantitative Reporting FN-IN-450a.2 N/A
attributable to insurance payouts from currency
(1) modeled natural catastrophes and
(2) non-modeled natural catastrophes, by
type of event and geographic segment
(net and gross of reinsurance)
Description of approach to incorporation Discussion n/a FN-IN-450a.3 2022 Task Force on Climate-related Financial
of environmental risks into (1) the and Analysis Disclosures Report: Ma
Keyword: governance
75 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Task Force on Climate-Related Financial Disclosures
(TCFD) Response
Topic Recommended Disclosure Response or Location
Governance: Disclose the a. Describe the board’s oversight of climate- Governance — Board Oversight of ESG, page 34
organization’s governance around related risks and opportunities.
2022 Task Force on Climate-related Financial Disclosures Report:
climate-related risks and opportunities.
Governance of Climate-related Risks and Opportunities — The Board’s
Oversight, pages 2-3
2022 CDP Report: C1. Governance — C1.1a, C1.1b
b. Describe management’s role in assessing and 2022 Task Force on Climate-related Financial Disclosures Report:
managing climate-related risks and Gove
Keyword: governance
2022 CDP Report: C1. Governance — C1.2; Risks and opportunities — C2.2a,
C2.4b
b. Describe the impact of climate-related risks and 2022 Form 10-K: Item 1A. Risk Factors — General Risk Factors, page 26
opportunities on the organization’s businesses,
2022 Task Force on Climate-related Financial Disclosures Report: Strategy
strategy, and financial planning.
for Addressing Climate-related Risks and Opportunities — Climate-related
Risks and Opportunities, page 5; Business and Strategy Impact, page 6;
Products and Services, pages 6-7; Financial Planning Impact, pages 7-8;
Strategy Resilience, page 8
2022 CDP Report: C2. Risks and opportunities — C2.3a
c. Describe the resilience of the organization’s 2022 CDP Report: C3. Business Strategy — C3.1, C3.2, C3.3, C3.4
strategy, taki
Keyword: governance
76 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Topic Recommended Disclosure Response or Location
Risk Management: Disclose how the a. Describe the organization’s processes for 2022 Task Force on Climate-related Financial Disclosures Report: Managing
organization identifies, assesses, and identifying and assessing climate-related risks. Climate-related Risks and Opportunities — Enterprise Risk Management
manages climate-related risks. Process, pages 8-9; Climate-specific Risk Assessment Processes, pages 9-11
2022 CDP Report: C2. Risks and opportunities — C2.2
b. Describe the organization’s processes for 2022 Task Force on Climate-related Financial Disclosures Report: Managing
managing climate-related risks. Climate-related Risks an
Keyword: governance
c. Describe how processes for identifying, Governance — Board Oversight of ESG, page 34
assessing, and managing climate-related risks
2022 Task Force on Climate-related Financial Disclosures Report: Managing
are integrated into the organization’s overall
Climate-related Risks and Opportunities — Enterprise Risk Management
risk management.
Process, pages 8-9
2022 CDP Report: C2. Risks and opportunities — C2.2
Metrics and Targets: Disclose the a. Disclose the metrics used by the organization Environment — Scope 1, Scope 2, Scope 3 GHG Emissions, page 48
metrics and targets used to assess and to assess climate-related risks and opportunities
2022 Task Force on Climate-related Financial Disclosures Report: Climate-
manage relevant climate-related risks in line with its strategy and risk managemen
Keyword: governance
77 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Board of Directors
Daniel P. Amos W.Paul Bowers Toshihiko Fukuzawa
Chairman and Chief Executive Officer Retired Chairman and Senior Advisor of Chuo-Nittochi
Aflac Incorporated Chief Executive Officer Co., Ltd.
Georgia Power Co.
Arthur R. Collins Thomas J. Kenny Georgette D. Kiser
Founder and managing Partner of Former Partner and Operating Executive
the GROUP Co-Head of Global Fixed Income The Carlyle Group
Goldman Sachs Asset Management
Karole F. Lloyd Nobuchika Mori Joseph L. Moskowitz
Certified Public Accountant and Retired Representative Director, Japan Financial Retired Executive Vice President
Ernst & Young LLP Audit Partner and Economic Research Co. Ltd. Primerica, Inc.
Barbara
Keyword: governance
78 2022 BUSINESS & SUSTAINABILITY REPORTABOUT AFLAC GOVERNANCE INVESTMENTS ENVIRONMENT WORKFORCE PHILANTHROPY APPENDIX
Aflac Incorporated (NYSE: AFL)
For more information about the Company, its SEC filings,
including form 10-K, or this report, please contact:
Investor and Rating Agency Relations
David Young, Vice President
ON THE INTERNET:
investors.aflac.com
BY TELEPHONE:
+1.800.235.2667 or +1.706.596.3264
BY EMAIL:
aflacir@aflac.com
Shareholder Services
For information or assistance regarding individual stock
records, dividend reinvestment, dividend payments,
dividend tax forms, or direct deposits of dividend
payments, please contact:
ON THE INTERNET:
https://shareholder.broadridge.com/aflac
BY TELEPHONE:
+1.800.227.4756 or +1.706.596.3581
BY EMAIL:
shareholder@broadridge.com or shareholder@aflac.co
Keyword: tax
equipment in various communities, and tax credits generated by these investments are
recorded as an income tax benefit in the consolidated statement of earnings. The
Company monitors emerging risks and opportunities to factor into the financial planning
process, should they become more substantive.
Strategy Resilience
As a supplemental health and life insurance company, our primary climate-related risks
are related to our reputation, investment portfolio and insurance products. These risks
are currently assessed as part of our ongoing risk management processes for adverse
conditions or changes where climate-related risks represent a subset of risks or factors
that could impact our performance.
We have assessed acute physical risks related to areas hard hit by a natural disaster,
s
Keyword: governance
Governance...................................................................................... 3
The Board’s Oversight......................................................................................................... 3
The Role of Management.................................................................................................... 4
Management Incentives...................................................................................................... 6
Strategy ............................................................................................ 8
Climate-related Risks and Opportunities.......................................................................... 8
Transition Risks ............................................
Keyword: governance
thematic areas that represent core operational elements, including: (1) governance, (2)
strategy, (3) risk management, and (4) metrics and targets.
References
In this report, the terms "Aflac," "Company," "we," or "our" refer to Aflac Incorporated's
businesses collectively, the term "Aflac U.S." refers to the Company’s U.S. businesses,
and the term "Aflac Japan" to the Company’s Japan businesses. This report may also
refer to climate-related risks and opportunities as "climate-related issues." References in
this report are related to year-end 2023 unless otherwise noted.
Statement on Forward-Looking Information
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” to
encourage companies to provide prospective information, so long as those informational
statements are identified as forward-looking
Keyword: governance
Aflac Incorporated has established and maintains a robust corporate governance
framework to meet the expectations of stakeholders through the appropriate oversight of
the operational execution of the holding company system. This framework is referred to
as Aflac’s “Global Group Governance.” Aflac Incorporated’s direct and indirect
subsidiaries in each country operate pursuant to Global Group Governance and maintain
management soundness in order to continue providing products and services that are
valuable to customers and earn their trust. Aflac’s Global Group Governance framework
ensures appropriate oversight of and cooperation between Aflac Incorporated’s direct
and indirect subsidiaries in accordance with U.S. and Japanese laws and regulations.
Aflac Incorporated's Board committees play critical oversight and lead
Keyword: governance
governance mechanisms; corporate social responsibility and sustainability goals;
compensation programs; and risk management practices that identify and assess climate-
related risks.
The Corporate Social Responsibility and Sustainability (CSR&S) Committee provides
guidance and oversight of the Company's sustainability and corporate social
responsibility activities, including metrics and procedures to track progress toward
achievement of the Company’s goals. This committee is charged with monitoring and
reviewing the Company’s policies, procedures and practices to foster the sustainable
growth of the Company on a global basis, including climate change. The CSR&S
Committee also oversees all climate matters and supports the company’s SmartGreen®
goals a
Keyword: governance
Company’s Sustainability Working Group ("Working Group") (see below). The governance
structure of the Working Group allowed the COO to remain informed about practices and
approaches being taken across the Company’s business to both understand the risks
and opportunities the Company faces as a result of climate change, as well as the
Company’s areas of largest impact.
Specific climate-related responsibilities of the COO included assessing the importance of
climate issues and driving the response. The COO worked to ensure that the Company’s
climate-related actions are coordinated and aligned with the broader goals of the
4Company. The COO’s informed understanding of the Company’s business, authority to
direct resources and prioritization, as well as connectivity with the Board is the reason
why responsibilities for climate-r
Keyword: governance
Company who have responsibility for governance, enterprise risk management,
investments, facilities, human resources, government and regulatory relations, brand and
marketing, cybersecurity, corporate social responsibility, and investor relations. The
Working Group supports setting sustainability performance objectives, monitors
implementation and performance of objectives, and oversees progress made toward our
environmental goals, including climate-related goals.
Aflac’s Global Group Governance committee framework, which is aligned with and
overseen by the Board and its committees, ensures appropriate operational execution
and governance over the Company’s management activities. In 2023, these committees
were: the Global Risk Committee, the Global Investment Committee, the Global Capi
Keyword: governance
The Global Investment Committee (GIC) provided operational governance over the
Company’s investment activities, which includes strategies associated with sustainable
investments, and related processes to support the assessment of climate-related risks
and opportunities within the investment portfolios, subject to the Finance and Investment
Committee’s oversight.
In 2024, the Global Investment Committee and the Global Capital Committee were
consolidated into a Global Finance Committee to streamline governance of financial-
related matters while maintaining the same authorities, responsibilities, and alignment
with the Finance and Investment Committee of Aflac Incorporated’s Board of Directors.
Additionally, executive management decided to sunset the Global Operations and
Technology Committee and has establish
Keyword: governance
Management governance and oversight activities also include accountability for
achieving certain climate-related goals. The compensation of certain employees is linked
to achieving climate-related targets.
Sustainability and Executive Compensation
In 2021, recognizing the importance of tying our sustainability goals to our business
strategy, a sustainability modifier was introduced to the Management Incentive Plan (MIP)
("Sustainability Modifier") for all officers across the Company’s global operations. The
Sustainability Modifier included specific critical path objectives, as reviewed by the
CSR&S Committee, and continued in 2023.
Achievement of all four Sustainability Modifier objectives results in a +5% adjustment to
the incentive; two or fewer objectives re
Keyword: bribe
• Global Anti-Bribery & Corruption Policy, which forbids giving or receiving, either directly or
through a third party, gifts, entertainment, or things of value meant to influence a business
decision, policy decision, or create a reciprocal obligation. Employees must attest to this pol-
icy and participate in mandatory biennial training.
• Conflict of Interest Policy, which addresses potential conflicts and their potential interfer-
ence with employees’ work at Airbnb. Employees participate in mandatory training regarding
this policy.
• Harassment, Bullying, Discrimination & Retaliation Prevention Policy, which addresses
harassment or retaliation. Employees participate in mandatory training regarding this policy.
• Whistleblower Policy, which addresses the repo
Keyword: corruption
• Global Anti-Bribery & Corruption Policy, which forbids giving or receiving, either directly or
through a third party, gifts, entertainment, or things of value meant to influence a business
decision, policy decision, or create a reciprocal obligation. Employees must attest to this pol-
icy and participate in mandatory biennial training.
• Conflict of Interest Policy, which addresses potential conflicts and their potential interfer-
ence with employees’ work at Airbnb. Employees participate in mandatory training regarding
this policy.
• Harassment, Bullying, Discrimination & Retaliation Prevention Policy, which addresses
harassment or retaliation. Employees participate in mandatory training regarding this policy.
• Whistleblower Policy, which addresses the reporting and con
Keyword: tax
taxes, depreciation, and amortization (EBITDA)Some Scope 3 emissions categories, such as employee business travel, are expected to
continue to grow as the most significant impacts of COVID-19-related travel and gathering
restrictions ease. However, we continue to apply financial and emissions discipline to travel
needs, and will continue to monitor how business trends impact emissions levels while we
invest in emissions reductions opportunities.
Evaluating Our Emissions Footprint
Airbnb is committed to measuring and disclosing our corporate climate impact, including by
accounting for our greenhouse gas footprint by considering the principles and guidance of the
internationally recognized Greenhouse Gas (GHG) Protocol standards. To measure our em
Keyword: tax
Act, which provides rebates, tax credits, and low-cost financing for households switching to clean
electricity. We also empower Hosts to share their sustainability practices with guests to attract
environmentally-conscious travelers and inspire guests to incorporate similar actions when they
return home.
Host-led Initiatives
Members of our Host community are working with each other to promote sustainability in
their communities.
For example, Hosts in Italy self-organized and partnered with Circularity, a third-party sustainabil-
ity consulting firm, to develop tips for reducing their impact, such as installing faucets with aer-
ators, doing fewer, larger loads of laundry, and ideas for highlighting these actions with guests. A
similar effort led by Canadian and Australian