Trusted and responsible business

Trusted and responsible business

From tackling the climate crisis to expanding our diversity, equity and inclusion efforts, we are committed to being environmentally and socially responsible.

Trusted and responsible business

From tackling the climate crisis to expanding our diversity, equity and inclusion efforts, we are committed to being environmentally and socially responsible.

Operating ethically, treating our Clients and employees with utmost respect, and acting on critical environmental and societal issues are all vital components of maintaining the longevity and resiliency of our business.

Our work is aligned to Sustainable Development Goals #5 Gender Equality and #13 Climate Action.

Trusted and responsible business: Material topics

We’re keenly aware that the window of opportunity to avert the worst impacts of climate change is closing. Around the world, people are demanding that governments and corporations do more – much more – to tackle the climate emergency. 

Learn more about how we’re tackling climate change throughout our operations and investments

The fight for true inclusion in our society remains as critical as ever. Racism, discrimination and social inequality are serious, long-standing issues for society, as well as for businesses. 

Learn more about how we’re fostering DE&I for Clients, communities and colleagues

Today’s consumers want fast, convenient and friendly service, and a company that makes them feel valued. They want options that enable them to interact with companies in the most efficient way at any given time. 

Learn more about how we’re making it easier for Clients to do business with us

In the digital age, organizations like Sun Life hold more personal information than ever before. Our Clients trust us with their information. That’s why we see it as critical for Sun Life to take a leadership role to manage their data safely and responsibly. 

Learn more about our data security and privacy programs

As part of our Client Impact strategy, we’re focused on empowering our people and building an inclusive culture. Talent management is about hiring people with the right skills and investing in their development. It’s also about empowering our people to be action-oriented and accountable. 

Learn more about how we’re creating inclusive, sustainable and empowering workplaces where employees can be themselves

Proactively identifying, measuring, managing, monitoring and reporting risk is key to making our business more resilient. A risk management mindset helps us meet our financial commitments to Clients. At the same time, it protects our competitiveness and long-term sustainability.

Learn more about how we’re managing our exposure to environmental, social and governance risks

Good governance and behaviour are essential practices for any sustainable business. They’re especially important for financial services companies like ours. Being well-governed and behaving ethically at all levels of our organization is critical to Sun Life’s reputation. 

Learn more about our corporate governance practices

Goals

Climate-related

  • Net-zero GHG emissions by 2050 for our global operations. We set a net-zero goal for investments as well. Refer to our Net Zero by 2050 report for the latest details.

  • 50% absolute reduction of greenhouse gas (GHG) emissions in our operations by 2030, relative to 20191

    36.9% absolute GHG emissions reduction compared to 2019 baseline1,2 (FY 22)

  • Carbon neutral operations globally from 20213

    Maintained CarbonNeutral®4 company certification in 2022

Diversity-related (by 2025)5

  • Gender parity in Vice-President (VP)+ roles (Global)

    On track – 36% women (FY22)

  • 25% underrepresented ethnicities6 in VP+ roles (North America)

    On track – 19% (FY22)

  • 3.5% Black employees in VP+ roles (Canada)

    On track – 3.3% (FY22)

  • 5% Black employees within student workforce (Canada)

    Achieved – 8% (FY22)

  • 13% Black/African American employees at each level (U.S.)7

    On track – 10% in VP+ roles; 3% in AVP and Director roles; 11% in staff roles (FY22)

  • Balanced gender representation on the Board of Directors

    Achieved – 50% women (Q1’23)

  • 20% to 25% representation by underrepresented groups6 on our Board of Directors

    Achieved – 25% of Board members self-identify as members of underrepresented groups (Q1’23)

  • Progressive Aboriginal Relations certification (Canada)

    On track – Phase 2 complete (Q1’23)

  • 5% diverse supplier direct spend target in North America

    Off track – 1% (FY22) 

    We are in the process of appointing supplier diversity champions and working groups to identify more opportunities for diverse suppliers. There is a lot of work and opportunity as we progress on our supplier diversity journey.

Our stories of impact

Net zero by 2050: Sun Life’s climate journey

Bringing inclusive employment opportunities to local job seekers

Client Advocacy: Improving our inclusivity practices

1 Emissions resulting from global corporate offices and data centres as well as from business travel, inclusive of majority-owned Sun Life affiliate companies. All emissions reporting is aligned to the GHG Protocol Corporate Accounting and Reporting Standard using the financial control approach.

2 DentaQuest corporate offices are excluded for the 2022 reporting cycle.

3 Includes MFS and SLC Management affiliates (BentallGreenOak, InfraRed Capital Partners and Crescent Capital Group).

4 CarbonNeutral® is a registered trademark of Climate Impact Partners and is achieved in accordance with The CarbonNeutral Protocol, the leading global framework for carbon neutrality.

5 Underrepresented ethnicity data is based on employee voluntary self-identification. 91% of employees surveyed have provided self-identification data. Board representation data based on self-identification.

6 Canada: those who voluntarily self-identify as Visible Minorities per the Employment Equity Act; U.S.: those who voluntarily self-identify as People of Color per the Equal Employment Opportunity Commission.

7 U.S. refers to the U.S. Group Benefits, Dental (excluding DentaQuest) and In-Force management businesses of Sun Life U.S. as reported by Sun Life Financial Group Inc. Data based on voluntary self-identification.

Refer to Sustainability Data Scope.