3 largest Canadian life insurers are making slow progress in reducing $90B fossil fuel investments despite net-zero targets.

A report from Investors for Paris Compliance reveals that Canada's largest life insurers—Sun Life Financial, Manulife Financial, and Great-West Lifeco—are making slow progress in reducing their over $90 billion fossil fuel investments. While all three have net-zero targets for life insurance premiums, their asset management divisions show inconsistent progress. Manulife and Sun Life disclose most financed emissions, but Great-West lags. Experts warn that fossil fuel investments contradict their focus on client health amid worsening climate impacts.

October 23, 2024
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