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Definity promises to achieve net zero emissions by 2040

Definity Financial Corporation has announced a new initiative to reduce net emissions to zero for both business and investment by 2040.

“We aim to build a better world by helping clients and communities adapt and prosper,” the company said. A key element of this mission is that Definity “recognizes its responsibilities and climate.” It is to define the role in dealing with the crisis. “

In the release, insurers outlined future priorities with the goal of sustainability.

  • Providing insurance products and services that help mitigate the impact of climate change on Definity’s customers and communities
  • Identifying and managing climate-related risks across the enterprise
  • Mitigating the direct impact of the company’s business on the climate
  • Managing climate-related risks and opportunities for company investment
  • Advocating the future of fair and resilient net-zero emissions
  • Disclosure progress in line with Task Force on Climate Related Financial (TCFD) recommendations

Definity has also set interim goals for tracking progress. Compared to the 2019 baseline, insurers want to reduce net zero emissions from their businesses by 30% by 2025 and 50% by 2030. We have also set a provisional target for net zero emissions from investment, aiming for a 30% reduction. 65% by 2025 and by 2030.

“We know the real consequences of climate change for Canadians,” said Rowan Saunders, President and CEO of Definity. “Our business as a leading non-life insurance company faces increasingly frequent and serious consequences. We are committed to climate change so that we can continue to serve Canadians in good faith. We are responsible for our own contributions. Accountability. “

read more: Definity acquires minority interest in APOLLO Insurance

Earlier this week, Definity announced that it would acquire a minority interest in APOLLO Insurance, a general agent for digital management. Once approved, the transaction will show the distribution relationship between Definition’s affiliates, Definition Insurance Company and APOLLO. APOLLO recently secured a Series B funding round from Definity, further accelerating the former online insurance platform.

Definity promises to achieve net zero emissions by 2040

Source link Definity promises to achieve net zero emissions by 2040

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