Wealth Strategies
The ESG Phenomenon - Manulife

Developments and commentary in and around the ESG investment space.
Manulife
Canada-based financial services group Manulife has announced that
it is committing to the “net zero” carbon emissions target by
2050, part of a trend of firms pledging to put their financial
muscle behind the idea.
The group had C$1.3 trillion ($1.0 trillion) as of the end of
March, making it one of the largest such entities in the
world.
Among specific details, the group said that it has signed up to
the Science-Based Targets initiative to guide its target setting,
measurement, and progress reporting. Manulife will also continue
to grow its $39.8 billion portfolio of green investments, such as
renewable energy and energy-efficient real estate, it said in a
statement last Friday.
“Through the commitments we’ve set out today, we are accelerating
work to reduce our own emissions and build a portfolio of
climate-smart investments,” Roy Gori, president and CEO,
Manulife, said. “In making clear commitments on climate, we are
setting a robust plan for our operations and our own investments.
We are actively developing innovative products and services
designed to contribute towards the urgent, global fight against
climate change.”
The firm said that it is taking a sector-based approach, focusing
first on the heavy emitting industries, such as power generation,
to establish near-term emissions reduction targets.
“Our approach is centred on two core principles. First, that
there is an immediate need to take action on climate change
today; and second, that our actions result in real change versus
create the perception of change,” Sarah Chapman, global chief
sustainability officer, Manulife, said. “Accelerated
de-carbonisation of Manulife’s portfolio is a top priority for
achieving our 2050 ambition.”