Allstate’s Prosperity Report is impressive, and quite innovative. Recall BlackRock’s annual letter sent at the beginning of the year which asks companies to do more than make profits but also to serve the greater good, or, have societal purpose in addition to making profits. Well, Allstate has accepted that call with its new Prosperity Report, an 11-page report positioned before the proxy statement, and it is well done. The report squarely hits on exactly what BlackRock is looking for in its annual letter when it asks companies to disclose its social purpose in connection with long-term sustainable and financial growth. Allstate historically has been ahead of the curve in terms of proxy statement disclosure. Many companies in past years turned to Allstate as an example of best practice proxy disclosure relative to cybersecurity and risk oversight during a time when companies were hesitant to step out with that type of disclosure. I believe BlackRock (Allstate’s top investor) and many others investors will be pleased with Allstate’s efforts that go beyond typical proxy statement disclosure.
Check it out here.