Trusted and responsible business

Trusted and responsible business

From expanding our diversity, equity and inclusion efforts to ensuring Clients and employees feel valued, we’re committed to addressing foundational sustainability elements.

Trusted and responsible business

From expanding our diversity, equity and inclusion efforts to ensuring Clients and employees feel valued, we’re committed to addressing foundational sustainability elements.

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

Our work is aligned to Sustainable Development Goal #5 Gender Equality.

Trusted and responsible business: Material topics

Advancing diversity, equity and inclusion (DE&I) isn’t accomplished from a standalone initiative. DE&I efforts must be intentional, ongoing and measurable, requiring commitment and engagement at all levels of our organization. 

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

Our Clients remain at the centre of everything we do – and providing great experiences is a central part of our promise to them. 

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

As technologies advance in the fast-evolving digital ecosystem, so do the nature and scale of cybersecurity threats. We work proactively to anticipate and address tomorrow’s cybersecurity threats and safeguard our Clients’ information. 

Learn more about our data security and privacy programs

Recognizing that our people drive our competitive advantage, we strive to uphold a culture where everyone feels comfortable being themselves, confident to speak up and connected to the values and Purpose of Sun Life. 

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

A proactive risk management approach makes our business more resilient and helps us meet our financial commitments to Clients. It protects our competitiveness and long-term sustainability and leads to better societal outcomes.

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

Instilling confidence in the way we manage our business – and the financial needs of our Clients – is fundamental to our strength, stability and reputation as a global financial organization. 

Learn more about our corporate governance practices

Aspirational goals

Diversity-related (by 2025)1

  • Gender parity2 in Vice-President (VP)+ roles (Global) 

     In progress – 37% women (FY23)  

  • 25% underrepresented ethnicities3 in VP+ roles (North America) 

    In progress – 20% (FY23) 

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

    In progress – 1.9% (FY23)

  • 5% Black employees within student workforce (Canada) 

    Achieved – 5% (FY23) 

  • 13% Black/African American employees at each level (U.S.)4

    In progress – 7% in VP+ roles; 6% in AVP and Director roles; 15% in staff roles (FY23)

  • Balanced gender representation on the Board of Directors

    Achieved – 50% women (Q1'24)

  • 20% to 25% representation by underrepresented groups5 on our Board of Directors

    Achieved – 25% of Board members self-identify as members of underrepresented groups (Q1'24)

  • Progressive Aboriginal Relations certification (Canada)

    In progress – Phase 2 complete (FY23)

  • 5% diverse supplier direct spend target in North America 

    Off track – 1.4% (FY23) 

    Supplier diversity leaders across Sun Life continue to progress on identifying opportunities for diverse suppliers. As we progress, we’ve expanded our supplier diversity training and enhanced our program to improve our identification of diverse suppliers across North America. 

Our stories of impact

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. 

Gender parity is defined as women representation between a range of 47% to 53%. This range accounts for employees who identify as non-binary based on current global averages.

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. 

U.S. refers to the U.S. Group Benefits, Dental (including DentaQuest) and In-Force management businesses of Sun Life U.S. as reported by Sun Life Financial Group Inc.

5 Individuals who have self-identified as members of the Black, Indigenous, People of Colour, disabled and/or LGBTQ2+ communities

Refer to Sustainability Data Scope.