At Sun Life, we recognize the links between a healthy planet and a healthy economy, on which our company depends. By improving our environmental performance and embedding environmental, social and governance factors into our investment decisions, we are creating a more sustainable organization while supporting the transition to a lower-carbon economy.
We are accountable for our impact on the environment, and we work every day to measure, manage and reduce that impact.
Through our environmental management framework, we integrate environmental sustainability into our day-to-day operations and decision-making. Our wide range of programs and practices aims to manage the environmental footprint of our business. We track and report on key environmental indicators to monitor progress and identify opportunities for improvement. We also assess climate risk and other environmental impacts through extensive risk management systems.
- Reduce GHG emissions intensity1 by 20% by 2020 and 30% by 2030 (2014 baseline)2,3,4Result: On track
- Reduce paper use in North American operations by 30% by 2020 (2014 baseline) Result: Achieved
- Continue working to reduce GHG emissions intensity by 20% by 2020 and 30% by 2030 (2014 baseline)
We believe sustainable investing can improve the long-term return on our assets, helping us achieve superior results while also benefitting the communities where we live and do business. Incorporating an environmental, social and governance (ESG) lens in investment decision-making helps us manage risks in our investment portfolios and identify opportunities related to ESG trends.
- Form a sustainable investing council with representatives across asset classes Result: Achieved
- Implement factors in our investment strategy that address the impact of climate change on the management of our investment portfolio Result: Achieved
- Conduct a climate change scenario analysis on the General Account portfolio
- Assess current disclosure and develop a plan for implementing the recommendations of the Task Force on Climate-related Financial Disclosures
- Manage our real estate portfolios to support greenhouse gas reduction targets
- Continue the rollout of the ESG Plus process across our asset classes
2 Composed of GHG emissions resulting from energy, water, and waste (where weight data exists), and normalized to remove the impact of changing weather, occupancy and exceptional loads, for Canada, United States and International Real Estate Investment properties where Sun Life has financial control and global corporate real estate properties >40,000 ft² where Sun Life has financial control.
3 Year-over-year reductions are calculated annually and cumulatively reported vs. the 2014 baseline.
4 Reported reductions account for the purchase of renewable energy credits (RECs) and carbon offsets (net, market-based reporting).