Manulife Deepens ESG Focus with Launch of Impact Agenda

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Jun 01, 2022, 08:00 ET

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TORONTO, June 1, 2022 /PRNewswire/ - Manulife today announced the launch of its global Impact Agenda, which articulates the company's commitment to building a better business to better the world, inspired by its mission: Decisions made easier. Lives made better.

Manulife's Impact Agenda is centred around three interconnected pillars:

Empowering sustained health and well-being to support the journey towards a better life
Driving inclusive economic opportunities to create a more even playing field for all
Accelerating a sustainable future to preserve the planet we all share

"I'm pleased to announce the launch of our Impact Agenda, as we deepen our focus on sustainability. By sharpening our focus on the impact we can have, we will drive meaningful change, committing ourselves and our resources to long-term initiatives that create value for our business, shareholders, and stakeholders," said Roy Gori, President and Chief Executive Officer, Manulife. "The Impact Agenda is a lens to help make decisions about our investments to address key societal and environmental issues with our business expertise, including areas related to innovations in products, services and community investments, and decisions around thought leadership, advocacy and public policy."

Manulife has established a strong foundation with its environmental, social and governance (ESG) efforts. The Impact Agenda provides a framework for the organization to channel its efforts towards tangible and measurable improvements in health, wealth and sustainability, where the company has the greatest ability to effect change. The key commitments of Manulife's global Impact Agenda include:

Empowering Sustained Health and Well-being

Innovate and scale behavioural insurance offerings
Continue to elevate the well-being of its people through initiatives like family-friendly and mental health benefits programs
Expand Healthy Building Certifications for key Manulife Investment Management managed real estate properties

Driving Inclusive Economic Opportunity

Increase representation of women at the AVP level to 40% and at the VP+ level to 32% by 2022
Increase representation of Black, Indigenous and People of Colour (BIPOC) in leadership roles by 30% by 2025 and ensure at least 30% BIPOC representation in graduate programs annually
Increase spend with diverse suppliers by at least 4% by 2025
Increase focus on financial inclusion and accessibility of products and services

Accelerating a Sustainable Future

Net zero financed emissions by 2050
Reduce absolute scope 1 and 2 emissions 35% by 2035
Certify 100% of eligible Manulife Investment Management managed farmland as sustainably managed by 2023
Reduce paper volume by 35% by 2025 and ensure remaining paper is from sustainable sources

An international poll commissioned by Manulife and conducted online by The Harris Poll among over 6,000 international adults (defined as those ages 18+ in the US, Canada, Hong Kong, Indonesia and Malaysia) echoes the need for ESG commitments that drive value across stakeholder groups. The survey found that 86% of international adults wish there were easier ways to improve their physical and mental well-being, 71% of international adults are concerned they won't be able to achieve their financial goals given the state of the current economy, and nearly 9 in 10 (89%) international adults believe companies must work harder to understand their employees' needs and address them with empathy and compassion. By comparison, 68% (each) of international adults feel it's more important today than 2 years ago for the companies they do business with to combat climate change and commit to sustainable operations.

"Through our Impact Agenda, we are continuing to address urgent global needs that matter most to our colleagues, our clients and the communities we serve," said Sarah Chapman, Global Chief Sustainability Officer. "By sharpening our focus and harnessing our unique strengths and the diversity of our business and global footprint, we aim to make a positive impact on the issues that will define our time, for generations to come. This work benefits our business while benefiting our planet and the people who call it home."

To learn more about the commitments made by Manulife, and to track progress on our goals, visit Manulife.com/Impact.

About the Manulife/ Harris Poll Survey
This survey was conducted online by The Harris Poll on behalf of Manulife from April 18-22, 2022 among 6,347 international adults ages 18 and older in the US (n=2,254), Canada (n=1,042), Hong Kong (n=1,007), Indonesia (n=1,040), and Malaysia (n=1,004), among whom 4,370 are employed. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 2.8 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].

About Manulife
Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2021, we had more than 38,000 employees, over 119,000 agents, and thousands of distribution partners, serving over 33 million customers. Our principal operations are in Asia and Canada, and the United States, where we have served customers for more than 160 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. In the previous 12 months we made CAD$32.7 billion in payments to our customers.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

SOURCE Manulife Financial Corporation