Liberty Mutual Insurance Joins MIT-led Global Alliance on Innovation to Combat Climate Change

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Aug 02, 2022, 10:00 ET

BOSTON, Aug. 2, 2022 /PRNewswire/ -- Liberty Mutual Insurance today announced its membership to the MIT Climate and Sustainability Consortium (MCSC), supporting the acceleration and implementation of large-scale, real-world solutions to address climate change. Liberty Mutual joins 17 other member companies in the Consortium's efforts to inspire transformative climate progress across industries and the globe.

"We believe collaboration is a critical component to combatting climate change," said Liberty Mutual Chief Sustainability Officer Francis Hyatt, who will serve on MCSC's industry advisory board. "As an insurer we continually see and learn more about climate change, and we're eager to bring this knowledge to MCSC and help advance the Consortium's important, urgent work."

Liberty Mutual will participate in several workstreams that support MCSC's key objectives:

To accelerate the introduction of large-scale, feasible solutions to address the threat of climate change.
To advance proposals regarding sustainability opportunities, training for innovators, regulatory policies, and the development of business models across sectors.
To catalyze links between academic innovations and commercial scalability.
To materialize sustainable practices that are action-oriented and incorporate social justice, economic equity, and respect for the environment.

"We are excited to welcome Liberty Mutual to the MIT Climate and Sustainability Consortium and look forward to the perspective and expertise they bring from the insurance and risk management industry," said Jeremy Gregory, PhD, Executive Director of the MCSC. "Liberty Mutual will contribute to the dialogue and solutioning currently underway within the Consortium."

As two renowned organizations in Massachusetts, Consortium membership is just the latest step in Liberty Mutual's long-standing relationship with MIT. In 2019, Liberty Mutual launched an artificial intelligence research collaboration with MIT Quest for Intelligence, is a member of the MIT Industrial Liaison Program, and is one of the founding members of the MIT Mobility Initiative.

About Liberty Mutual Insurance

At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.

In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2021 gross written premium. We also rank 78th on the Fortune 100 list of largest corporations in the U.S. based on 2021 revenue. As of December 31, 2021, we had $48.2 billion in annual consolidated revenue.

We employ over 47,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.

For more information, visit www.libertymutualinsurance.com.

Contacts: Liberty Mutual Insurance Public & Media Relations
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SOURCE Liberty Mutual Insurance