We believe that corporate responsibility is most effective when it is fully integrated into the operations of the entire company. To that end, we continue to develop and augment tools and resources that educate employees about corporate responsibility-related practices and how corporate responsibility can impact their specific roles and improve outcomes. We actively participate in industry committees and studies to both assist us in developing our internal strategy and promote advancement of the industry. For example, we contributed to two leading initiatives; one specific to the financial sector and one specific to corporate philanthropy.
The London Benchmarking Group (LBG) and the Association of Corporate Contributions Professionals (ACCP), whose missions focus on supporting the profession of corporate community involvement, developed a pilot program to bring the LBG framework to U.S. companies. Voya Financial (formerly ING U.S.) participated in an 18-month program to assess the LBG model, a method that enables companies to measure community contributions and analyze results, in the U.S. The report detailing the outcome of the pilot program is available.
In 2012, Voya Financial (formerly ING U.S.) joined the Sustainability Accounting Standards Board (SASB) Financial Sector Working Group, participating in a comprehensive member survey. SASB, a non-profit organization engaged in the development of industry sustainability (i.e. corporate responsibility) accounting standards, embarked on a process to explore material sustainability issues — those societal and environmental challenges that pose specific risks or opportunities — facing the financial sector. Members’ responses were used to create sustainability accounting standards suitable for disclosure in standard corporate filings such as Form 10K. The project aimed to create a guide for financial services firms in prioritizing sustainability risks, opportunities and performance management. Reports and more details about this initiative are available on the SASB Website.