Business

Sun Life’s unique approach to sustainability

Boyd joined SunLife in 2016 and has recently been Vice President of Government, Regulation and Sustainability. She has been instrumental in developing SunLife’s current sustainability strategy and in reporting and disclosing the growing interest and demand of investors for strong reporting on sustainability performance.

“We have been on this sustainability journey for a long time,” Boyd said at the Virtual RBC Capital Markets Global ESG Conference. “We started the journey [by] We are considering building a strong foundation around ESG elements. Do we operate ethically? Do we handle our clients well? Is there a culture of inclusion? How do you reduce the impact on the environment? We have built a strong foundation for ESG, managed ESG risks and focused on ESG factors.

“Around 2018-2019, we said:’It’s great to have this strong foundation for ESG factors. But how can we do more? How can we really maximize our influence? Can we use our business core levers to tackle some of the biggest challenges in society? ”So we have changed our mindset about sustainability and managed it as a source of risk. Set out to move away from. [to] Manage ESG risks from the perspective of thinking about how to create value for society and business. “

Read next: Insurers facing great pressure to manage ESG risks

In 2019, Boyd led the development of a new purpose-driven sustainability plan centered on SunLife, a trusted and responsible business. This is the first time SunLife has directly linked sustainability to its core business, according to Boyd. He has led to core services, products, and the decisions companies make to create value for their stakeholders and shareholders.

“We focused on three main pillars: improving financial security, promoting healthier lives, and sustainable investment, which can have the greatest impact on us. Because it’s a place where you can do it, “she said. “And in 2021 … we really doubled in this area. We built on this credible and responsible business foundation, working on some of the truly core elements of ESG and sustaining in 2021. Incorporated possibilities. [throughout the business].. This is a key element of client strategy, and sustainability is integrated into the business strategy of every business unit. [and] We use sustainability as a driving force for innovation. Ultimately, this will enable us to better serve our clients and communities and improve our performance.

“This work requires really deep integration. It’s transformative. We’re early in the journey, but we promise to incorporate it into everything we do. This strategy is ESG. Beyond the basic elements of, it is to connect it to our objectives and core strategies for promoting and co-creating commercial and social value. “

read more: Companies that scramble to understand ESG risks

Strain became Sun Life’s 11th president and CEO in August 2021, and as a new leader, he had the opportunity to take a step back and actually analyze Sun Life’s strategy. He talks to clients and employees, Sun Life’s management, the board of directors, business stakeholders, and other insurance industry CEOs at an immense level of people sharing sustainability. I immediately noticed my concern.

“There was real energy to do something different [and] We will create a more integrated approach to our sustainability strategy, “he said. “For SunLife, it was driven by several factors. One is that we are a $ 1.4 trillion asset management company, MFS, InfraRed, BGO, Crescent, [and] Our PFI and general account [teams] I was already thinking about sustainability and what it is doing in the investment world.We are on track to make a sustainable investment commitment [and] Make a Net Zero commitment as an asset manager and asset owner.

“At the same time, as a goal-oriented company, we really motivate our people to help our clients achieve lifelong financial security and lead a healthier life, and we. If is truly goal-driven, it is about creating impact and actually helping clients achieve it.

“”[In our sustainability strategy] We talk about our goal of financial security, our goal of health, and the sustainable investment that asset managers put together through their investment philosophy and understanding of investment. Integrating it into our strategy was really important. But once it is integrated into our strategy, we need to be able to do it. It’s about structure and people. “

Sun Life’s unique approach to sustainability

Source link Sun Life’s unique approach to sustainability

Related Articles

Back to top button