Increasing financial security, helping people live healthier lives, and advancing sustainable investing
“We are proud of our sustainability achievements over the past year, all achieved in the context of an ongoing pandemic and global health crisis,” said Alanna Boyd, Senior Vice President and Chief Sustainability Officer. “Our work builds on our purpose and contributes to a more inclusive and sustainable future. Our efforts have had a significant impact on improving financial security, promoting health and well-being, and promoting sustainable investing. “a central part of our business strategy, effectively doubling our commitment to sustainability and signaling our intention to do more.
Boyd added, “Businesses and business leaders play an important role in driving the sustainability agenda. Sun Life strives to bring sustainability to life in everything we do – to direct our efforts in ways that are both good for our business and our stakeholders, and beneficial. to today’s society and for generations to come.”
Highlights from Sun Life’s 2021 Sustainability Report:
Increase financial security
- Helped customers in Canada complete 1.4 million positive financial actions to increase their financial security.
- Ease for customers to Canada to access life insurance coverage. Sun Life customers between the ages of 18 and 40 may be eligible for up to $5 million in life insurance coverage without lab tests – an industry first.
- Advocating to the US Congress for paid family and medical leave, so Americans don’t have to choose between working and caring for themselves or a loved one.
Supporting healthier lives
- 378,000 positive actions for health taken by Customers in Canada after a nudge from Sun Life digital coach Ella.
- Expanded Mental Health Solutions for Employers Canada and the United States, helping them create workplaces that protect and prioritize mental health. This included piloting our mental health coach in Canadawhich prompted 55% of participants to meet with a mental health professional and 32% to do lifestyle interventions.
- Helping individuals get the health coverage they need through new and expanded digital offerings: Health Navigator powered by PinnacleCare in the US, Personal Accident and Cancer solutions in Vietnamand expanded Lumino Health virtual care by Canada including the launch of a mobile app that provides on-demand access to healthcare.
- given more than $1 million worldwide for a total contribution of $4.5 million since the beginning of the pandemic, to support people and communities affected by COVID-19.
Advancing Sustainable Investing
- Stated target of achieving net zero greenhouse gas (GHG) emissions by 2050 for investments in Sun Life’s general account, with interim targets to be set in 2022.
- Made good progress towards Sun Life’s sustainable investing commitment with $6.8 billion new sustainable investments in 2021. The company has set itself a target in 2021 of $20 billion in new sustainable investments by 2025. The current value of its sustainable investment portfolio is $65 billion. Examples of typical investments include investments in solar, wind, and hydroelectric renewable energy, energy efficiency projects, and social infrastructure projects, such as affordable housing and long-term care facilities.
- Launched the Sun Life Malaysia Global Sustainable Fund, the first sustainable investing-related fund available to Malaysians.
Trusted and responsible company
- Developed a diversity, equity and inclusion strategy, outlining Sun Life’s focus areas, ongoing progress and promise to continue pushing for action. Sun Life has set goals for 2025, including greater representation at executive levels, with a target of 50% women in VP+ roles globally, 25% underrepresented ethnicities in the roles of VP+ in North Americaand obtaining the Progressive Aboriginal Relations certification in Canada in support of indigenous communities.
- Improved transparency around privacy practices, with updated plain language content in the Sun Life Global Privacy Statement. This helps customers and the public better understand what to expect when the company collects and uses their personal information. The statement reinforces Sun Life’s promise to do what’s right, rather than just what the law requires.
- Appointed Sun Life’s first Chief Sustainability Officer (CSO), reporting directly to the CEO and responsible for all sustainability, including climate change.
- Achieved CarbonNeutral corporate certification for all of Sun Life’s global business operations.
- Ongoing advocacy and collaboration with external stakeholders to develop net zero support programs and policies that pave the way for decarbonization.
Since 2014, Sun Life has used the Global Reporting Initiative (GRI) framework to guide its reporting. Sun Life’s 2021 Sustainability Report is prepared in accordance with the GRI Standards: Core Option and reports on relevant disclosure topics identified in assurance and asset management standards developed by the Sustainability Accounting Standards Board.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individuals and businesses. Sun Life operates in a number of markets worldwide, including Canada, United Statesthe UK, Ireland, hong kong, The Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. From December 31, 2021Sun Life had total assets under management of $1.44 trillion. For more information, please visit www.sunlife.com.
Sun Life Financial Inc. trades at the Toronto (TSX), New York (NYSE) and the Philippine Stock Exchanges (PSE) under the symbol SLF.
Note to editors: All figures are in Canadian dollars
Contact person for media relations:
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Contact with Investor Relations:
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SOURCE Sun Life Financial Inc.