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Manulife, Sun Life Should Speed Emissions Cuts, Group Says

  • Investors for Paris Compliance seeks better emissions reports
  • Group says firms finance emissions equal to Ontario, Quebec
Sun Life Hits Lowest Coupon As Sustainable Debt Goes Mainstream
Photographer: Brent Lewin/Bloomberg
Updated on

Manulife Financial Corp. and Sun Life Financial Inc., Canada’s two largest life insurers, each finance emissions roughly equal to those of Ontario and Quebec, making it imperative for the firms to accelerate their climate plans, according to an advocacy group. 

Manulife finances emissions of about 277 million tons of carbon dioxide equivalent, and Sun Life has about 222 million tons, according to a study conducted by Dutch sustainability researcher Profundo and commissioned by Investors for Paris Compliance. The two figures each are on par with the combined 226 million tons of emissions for Ontario and Quebec in 2020, according to the study, released Wednesday.