Liberty Names Sustainability Officer

Monday, December 16, 2019 | 0

Liberty Mutual named Francis Hyatt the carrier’s first chief sustainability officer and announced a new global policy on coal underwriting and investment.

Francis Hyatt

Hyatt has held several leadership positions with Liberty over the last 28 years, most recently serving as executive vice president of enterprise talent practices, where he was tasked with recruiting, training and retaining employees.

He will head up what the company is calling its environmental, social and governance issues and lead the carrier’s Office of Sustainability.

In the same announcement, Liberty Mutual said it will no longer accept underwriting risk for companies with more than 25% of their exposure arising from the extraction or production of energy from thermal coal.

Liberty also said it will not make any new investments in companies generating more than a quarter of their revenue from coal mining, or in utility companies that generate more than 25% of their electricity using coal.

The carrier said it also plans to phase out coverage and investments in risks that exceed these thresholds by 2023.