Dear colleagues, clients and shareholders,

The environmental, social and governance (ESG) landscape has rapidly evolved since our first ESG report in 2020. From shareholder activism to emerging regulations, the expectations on companies and their Boards to respond to stakeholders on ESG matters is becoming increasingly complex.

Marsh McLennan considers the viewpoints of all our stakeholders, including our shareholders, colleagues, clients and the communities where we live and work. Throughout the year, our Board collaborates with management to continually evaluate and shape our ESG strategy to be responsive to these various needs. Importantly, the Board works with management, not just to develop a clear vision of what Marsh McLennan’s ESG strategy is, but to understand how this strategy is actually impacting our stakeholders.

In that spirit, I am proud to introduce Marsh McLennan’s third annual ESG Report, which builds off the groundwork laid in the past two years to increase transparency of the tangible outcomes of our ESG initiatives. In this year’s report, we have expanded our disclosures to better connect the dots between strategy and results — from additional metrics to show progress on our diversity, inclusion and belonging initiatives, to reaching our initial goal of more than 30% female representation on our Board. 

We believe this allows our various stakeholders to better track the company’s performance against our commitments. 

Marsh McLennan has made great strides on ESG and is delighted to present that progress in this year’s report.

Sincerely,

Lloyd Yates
Chair, Board ESG Committee, Marsh McLennan

Dear colleagues, clients and shareholders,

Marsh McLennan has the privilege of helping our clients find opportunity and navigate pressing issues in the areas of risk, strategy and people. A number of these issues fall within the broad spectrum of ESG — from guiding sustainable investments, to supporting diversity and inclusion, to improving healthcare systems, confronting cyber threats, and helping close the world’s protection gaps.

We have a long track record of ESG engagement and achievements. As the world faces a host of urgent issues, including geopolitical instability, economic uncertainty, social inequities and the ongoing war in Ukraine, ESG is an area in which we continue to see an opportunity to support our colleagues, clients and communities.

Some of our work takes place as part of broader, global initiatives such as the UN’s Race to Resilience program, where we’re championing disaster-risk-reduction initiatives that make communities stronger. But much of it takes place with clients across our four global businesses, as we help enable them to meet their ESG goals. Increasingly, our clients’ changing needs require the collective capabilities of Marsh McLennan.

One of the areas we’re focused on is helping businesses develop low-carbon business models and manage risks associated with the transition to a low-carbon economy.

Given the necessity of a secure energy supply for all, we believe we can best serve communities by working with operators of clean energy assets to accelerate progress to a lower carbon world and with traditional energy clients to enable them to make the transition as quickly and responsibly as possible.

Meanwhile, we’re leading by example, starting with the commitment we announced in March 2022 to set and execute low-carbon transition strategies that chart a path to net-zero across our operations by 2050 — and reduce our emissions by 50% by 2030.

I am proud of the ESG progress we’ve made that you’ll see reflected in this report, and grateful for our more than 85,000 colleagues, who help our clients and communities meet their biggest challenges, build resilience and find new possibilities every day.

All the best,

John Doyle
President and Chief Executive Officer