Manulife's impact agenda

Country news: Canada

April 2023

Building a better business to better the world

Manulife is a company with heart.  We know that with our size and scope, we can effect real change and move the needle on some of society's most pressing issues.

IGP is a global business division of Manulife Financial Corporation, and Manulife Canadian Division is our Network Partner for employee benefits in Canada.

Over the years, Manulife has never shied away from supporting important environmental, social, and governance issues and in the process, has established itself as an organization with a proven track record of action.

Decisions made easier. Lives made better.

At Manulife, this is our reason for being. It is core to who we are and the journey we’re on.

As a health and wealth company, staying true to our Mission through our Impact Agenda is how we create long-term value for our business, our communities, and the planet. It’s how we all win.

We’ve committed ourselves and our resources to continue making lives better through three interconnected areas of focus, each with goals, commitments, and actions:

  • Empowering sustained health and well-being to support the journey towards a better life.
  • Driving inclusive economic opportunities to create a more even playing field for all.
  • Accelerating a sustainable future to preserve the planet we all share.

The Impact Agenda outlines our key social and environmental commitments, in areas where we have the greatest ability to affect change. It serves as a lens we use to guide our efforts and our decisions about the future of our business and is rooted in the belief that our collective actions drive meaningful change.

How we'll make progress

Empower sustained health & well-being

As a health and wealth company, empowering physical and financial well-being creates business value while achieving strong societal benefits. That’s why we’re making it easy for anyone to choose healthier behaviors and smarter financial solutions. We will continue to innovate and scale our behavioral insurance, elevate the mental health and well-being of our people, and drive financial security to help lay the essential foundation of a good life for all.

Commitments

  1. Innovate and scale our behavioral insurance via Vitality and MOVE. Vitality is a technology-based platform that inspires and motivates people to make healthy choices through meaning actions, personal goals and science-based motivation techniques. It is embedded in group benefit plans with extended health care – at no extra cost.

    The Manulife MOVE app promotes a healthy lifestyle by enabling members to track their progress against set fitness goals.
  2. Do out part towards the global Vitality goal of getting 100 million people 20% more active by 2025
  3. Continue to elevate the well-being of our people through initiatives like our family-friendly and mental health benefits programs
  4. Expand Healthy Building Certifications for key real estate properties managed by Manulife Investment Management

Drive inclusive economic opportunity

In business and in life, we are stronger when we have a diversity of perspectives. To help open up opportunities for all, we’re accelerating the upward mobility of underrepresented groups and making financial solutions more accessible. By increasing representation of women and communities of color, we can help even the playing field and give everyone a fair shot at success.

Commitments

  1. Increase representation of women at the AVP level to 40% and at the VP+ level to 32% by 2022
  2. Increase representation of Black, Indigenous and People of Colour (BIPOC) in leadership roles by 30% by 2025 and ensure at least 30% BIPOC representation in annual graduate hiring processes
  3. Increase spend with diverse suppliers by at least 4% by 2025
  4. Increase focus on financial inclusion and accessibility of products and services

Accelerate a sustainable future

As a health and wealth company, it’s natural that we are working to protect and restore our environment. We understand people can’t be healthy if they live on an unhealthy planet.

Climate change is impacting our ability to breathe clean air, access safe drinking water, and safeguard against natural disasters. That’s why we’re doing our part to support the transition to a net zero economy, reducing our emissions, and providing nature-based solutions to help preserve the planet we all share.

Commitments

  1. Net zero financed emissions by 2050
  2. Reduce absolute scope 1 and 2 emissions 35% by 2035
  3. Certify 100% of eligible Manulife Investment Management managed farmland as sustainable by 2023
  4. Reduce paper volume by 35% by 2025 and ensure remaining paper is from sustainable sources

Manulife's performance highlights

31% of Manulife's VP-level roles and above are held by women, an increase in representation of 4% from last year, achieving our 2022 target ahead of schedule

54% of Manulife's independent Board directors are women, exceeding our goal of 30% which we have maintained since 2013

$67.4 billion in total company sustainable investments

 

Providing financial services to over 6 million customers in emerging markets

1.25 billion trees planted by Manulife Investment Management since 1985

$21.7 million directly invested in local communities around the world

2.7 million customers globally have access to our behavioural insurance platforms

61% of Manulife Investment Management managed farms use regenerative practices

$31.8 million invested in employee training and development

Global customer rNet Promoter Score (NPS): +21 pts a 9-point improvement over 2020

479,000 acres of land protected by Manulife Investment Management Timberland and Agriculture Sensitive Lands program

82% of Manulife Investment Management's real estate investment portfolio is certified to a green building certification

Why partner with Manulife Financial Corporation – Canadian Division?

Learn more about the advantages of partnering with Manulife Financial Corporation – Canadian Division, view their key figures, recent awards and recognitions and get in touch with the local IGP contact.

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