Corporate Responsibility Impact Report

Corporate Responsibility Impact Report

During the first half of 2020, COVID-19 radically changed the day-to-day reality of billions of people around the world. According to the World Health Organization1, by the end of June 2020, the United States accounted for nearly 25% of the estimated deaths due to the pandemic, with a disproportion of those in Black and Latinx communities2. Against the backdrop of the inequities of the effects of the pandemic, several instances of violence against Black Americans sparked protests, demonstrations and conversations across the nation about racial injustice, bias and discrimination.

We responded to these extraordinary times true to our nature and guided by the values and characteristics that make us a different kind of company. And we remain committed to playing a pivotal role in actively addressing environmental, social and governance (ESG) issues.

Environmental Social Governance (ESG) Foundational Elements

We are committed to continually raising the bar on ESG performance and to providing greater transparency on the issues most relevant and significant to our key stakeholders, business and industry.

Material ESG Issues:

  • Human Capital
  • Ethics
  • Responsible Products & Services

Select ESG-related Products and Services:

  • Voya Cares
  • Welthy
  • Investment Management ESG Solutions & Integration
  • ESG Proxy & Engagement
  • myOrangeMoney
  • SAVVI Financial

Three most significant issues identified in 2016 Materiality Assessment

Environmental
  • Disclosure of environmental impacts through CDP (formerly Carbon Disclosure Project) and as detailed on corporate website
  • Industry-leading eco-efficiency performance, including 120% offset of electricity use through renewable energy credits
  • Employee engagement and activation through “Orange Goes Green” employee committees
  • Excellence in procurement of sustainable IT products as recognized by Green Electronics Council EPEAT Awards
  • Sustainable building principles employed at newest facility in Chandler, Arizona
  • Third-party audit of environmental data as reported externally on Voya.com and annual report
  • Recognition (encompasses all ESG): MSCI “A” rating on ESG Leaders Index, Dow Jones Sustainability Index, No. 3 on Barron’s 100 Most Sustainable Companies in the U.S., FTSE4Good Index
  • Partnerships: RE100 (renewable energy), EPA Green Power Partner
  • Signatory/Participant: Task Force on Climaterelated Financial Disclosures, Science-based Target Initiative’s Financial Sector Stakeholder Advisory Group, CDP
Social
  • Transparency of workforce demographics, including gender, race and disability
  • Outpace industry in female leadership at executive level (38%)
  • Diverse workforce with 50% female and 25% ethnic/ racial diversity
  • Business- and function-specific D&I plans with seniorleader accountability
  • Exceed industry-average talent retention rates1
  • Industry-leading employee benefits for caregivers
  • Employee Resource Group (ERG) engagement high at 26%, with eight ERGs
  • Financial inclusion through Voya Cares, philanthropic initiatives, SAVVI Financial
  • Financial Resilience strategy aligns with company mission (STEM, financial literacy and teacher empowerment)
  • Culture of giving with volunteerism and giving exceeding industry benchmarks; 40 hours paid volunteer hours annually
  • Recognition: Bloomberg Gender Equality Index, Disability Equality Index, HRC Best Places to Work for LGBTQ, Pensions & Investments Best Place to Work in Money Management
Governance/Frameworks
  • Board of Director independence (7 of 8 directors)
  • Board of Directors demographics: 50% female
  • Audit oversight is 100% independent through Audit Committee of Board
  • Women chair 4 of 5 standing Board Committees
  • Executive pay is variable and significantly depends on business performance
  • Board level oversight of corporate responsibility and diversity and inclusion
  • Board recommendations align with ISS recommendations2
  • ESG Risk Policy that relates to business transactions and process
  • Culture of ethics and compliance: 100% employee training on Code of Business Conduct; 100% employee cyber security training
  • Recognition: World’s Most Ethical Companies for seven consecutive years
  • Signatory/Participant: UN Principles for Responsible Investment, Investment Stewardship Group, CECP
  • Sustainability Frameworks: Sustainability Accounting Standards Board, Global Reporting Index: GOLD Community

1. U.S. Bureau of Labor Statistics

2. As of 2020 Annual Meeting of Stockholders