Pacific Life Expands ESG Investing Opportunities
Pacific Life has unveiled an updated version of its Sustainable Financing Framework, heralding the introduction of new institutional sustainable investment opportunities while significantly broadening the scope for environmental and social engagement.
Darryl Button, President and CEO of Pacific Life, expressed the company's unwavering commitment to making a positive impact on the environment. He highlighted the firm's extensive track record of delivering financial stability and strength to its stakeholders, underscoring their corporate social responsibility initiatives that leave a lasting imprint on their employees, communities, customers, and the environment.
Pacific Life originally introduced its Sustainable Financing Framework in April 2021, focusing on the issuance of sustainability bonds and financing facilitated through the Global Institutional Investments Group within its Institutional business division. This framework marked its debut with a groundbreaking $800 million sustainability bond, a record-breaking figure at the time.
Joe Krum, Senior Vice President of the Global Institutional Investments Group at Pacific Life, emphasised that the establishment of this Sustainable Financing Framework presents an opportunity to amplify their sustainable efforts. It allows for the financing of current and future investments that contribute positively to the environment and society.
Pacific Life primarily offers its sustainability financing in the form of funding agreement-backed notes. As outlined in the framework, an amount equivalent to the net proceeds from sustainability financing is directed towards supporting green and social initiatives. These encompass conservation, renewable energy, and community-building endeavours, such as affordable housing and education programs for target populations.
For comprehensive details about Pacific Life's Sustainable Financing Framework, please refer to their official webpage.
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Source: Pacific Life