We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Joseph Monk is on the board of the ACLI, serving through 2024.
Joseph Monk (Senior Vice President of Financial Services, State Farm Insurance)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Joseph Monk is on the board of the ACLI, serving through 2024.
Joseph Monk (Senior Vice President of Financial Services, State Farm Insurance)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of April 2022, Michael L. Tipsord is a member of Business Roundtable.
Michael L. Tipsord (Chairman, President, and CEO, State Farm)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
As of April 2022, Michael L. Tipsord is a member of Business Roundtable.
Michael L. Tipsord (Chairman, President, and CEO, State Farm)
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
NAMIC does not disclose general membership. However, State Farm is listed as a participant in NAMIC's arbitration service, demonstrating a connection between the company and the association.
not specified
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
NAMIC does not disclose general membership. However, State Farm is listed as a participant in NAMIC's arbitration service, demonstrating a connection between the company and the association.
not specified
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
State Farm Insurance (State Farm) does not appear to have significantly engaged on sustainable finance policy.
In its 2020 ESG Report State Farm states support for reductions in energy consumption. Beyond this, State Farm does not appear to have a clear position on the need to tackle climate change. Its Q4 2021 lobbying report filed with the US Congress shows State Farm has engaged on climate change-related financial issues, but details of this engagement are unclear.
Another lobbying report from 2021 shows State Farm has engaged policymakers on issues of climate-related insurance risk, specifically the Federal Insurance Office (FIO) request for information on insurance and climate risk, but details of this engagement are unclear. The federal register does not show a comment letter from State Farm on this FIO consultation.
State Farm has not disclosed its sustainable finance policy positions or details of engagement. State Farm has not listed its trade association membership, despite retaining membership in organizations engaged with both sustainable finance policy and climate-related insurance policy specifically, including the Securities Industry and Financial Markets Association and the American Council of Life Insurers.