Sun Life's 2021 Sustainability Report focuses on financial security, health, and sustainable investing

Published on: 29 March 2022
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Sun Life Financial released its 2021 Sustainability Report and Public Accountability Statement. The report focuses on Sun Life's sustainability efforts in three key areas: financial security, healthier lives, and sustainable investing. It also covers climate action, diversity, equity & inclusion, data privacy, governance, and risk.

"We're proud of our sustainability accomplishments this past year,"

said Alanna Boyd, SVP and CSO.

"Our work contributes to an inclusive and sustainable future. Our efforts have improved financial security, health, and sustainable investing. Sun Life made "Sustainability Driven" a core part of our business strategy in 2021, doubling down on our commitment and signaling our intention to do more."

Boyd: "Businesses and business leaders drive sustainability. Sun Life strives to be sustainable in everything we do, benefiting our company, stakeholders, and society now and in the future."

Sun Life Sustainability Report 2021 highlights:

Helped Canadians take 1.4 million financial actions to boost their security. Helped Canadians get life insurance. Sun Life clients ages 18 to 40 can get up to $5 million in life insurance without lab tests. Championed paid family and medical leave so Americans don't have to choose between work and caregiving. Promoting health

Ella, Sun Life's digital coach, prompted 378,000 Canadians to take positive health actions. Expanded mental health solutions for Canadian and U.S. employers, helping them create mentally healthy workplaces. Our Mental Health Coach pilot in Canada led 55% of participants to see a mental health professional and 32% to make lifestyle changes. New and expanded digital offerings helped people get health insurance. Health Navigator powered by PinnacleCare in the U.S., Personal Accident and Cancer solutions in Vietnam, and expanded Lumino Health Virtual Care in Canada, including a mobile app for on-demand care. Donated over $1 million worldwide for a total of $4.5 million since the pandemic's start to support COVID-19 victims.

Sun Life's general account investments will have net-zero GHG emissions by 2050; interim targets will be set in 2022. Sun Life's sustainable investment commitment was met with $6.8 billion in 2021. The company aims to invest $20 billion in sustainable projects by 2025. Sustainable investments total $65 billion. Typical investments include solar, wind, and hydro renewable energy, energy efficiency, and social infrastructure like affordable housing and long-term care facilities. First Malaysian sustainable investment-linked fund, Sun Life Malaysia Global Sustainable Fund.

Sun Life's Diversity, Equity, and Inclusion Strategy outlines its focus areas, ongoing progress, and promise to keep pushing for action. Sun Life has set 2025 goals, including 50% women in VP+ roles globally, 25% underrepresented ethnicities in VP+ roles in North America, and Progressive Aboriginal Relations certification in Canada to support Indigenous communities.

Updated, plain-language content in Sun Life's Global Privacy Statement improves transparency. This helps clients and the public understand how the company uses personal information. Sun Life's promise to do what's right is reaffirmed.

Sun Life's first Chief Sustainability Officer (CSO). Responsible for sustainability, including climate change. Sun Life's global operations are CarbonNeutral. Continued advocacy and collaboration with external stakeholders to develop net-zero programs and policies that decarbonize. (CNW Group/Sun Life Financial)

Sun Life uses the GRI framework since 2014. Sun Life's 2021 Sustainability Report is developed in accordance with the GRI Standards: Core Option and reports on relevant insurance and asset management disclosure topics.

Sun Life's 2021 Sustainability Report is available at www.sunlife.com/sustainability.

Source: Sunlife newsroom

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