Definity Financial

Definity Financial's reported carbon emissions

Definity Financial Corporation, a company operating in the Insurance and pension funding services sector based in Canada, reported a total of approximately 25.4 billion kg CO2e emissions in 2024. This figure is comprised of Scope 1 emissions totalling about 1.3 billion kg CO2e, Scope 2 emissions of approximately 0.9 billion kg CO2e, and Scope 3 emissions amounting to roughly 23.2 billion kg CO2e. For the preceding year, 2023, Definity Financial reported a total of approximately 31.7 billion kg CO2e emissions. This included Scope 1 emissions of about 1.3 billion kg CO2e, Scope 2 emissions of approximately 0.9 billion kg CO2e, and Scope 3 emissions of around 29.6 billion kg CO2e. In 2022, the company's total emissions were approximately 27.2 billion kg CO2e, with Scope 1 at about 1.2 billion kg CO2e, Scope 2 at approximately 0.9 billion kg CO2e, and Scope 3 at roughly 25.1 billion kg CO2e. Further back, in 2021, Definity Financial reported total emissions of approximately 24.3 billion kg CO2e, comprising about 1.6 billion kg CO2e for Scope 1, 0.3 billion kg CO2e for Scope 2, and roughly 22.3 billion kg CO2e for Scope 3. In 2020, Definity Financial's total emissions were approximately 80.7 billion kg CO2e, with Scope 1 at about 1.8 billion kg CO2e, Scope 2 at approximately 0.4 billion kg CO2e, and a substantial 78.4 billion kg CO2e for Scope 3. Definity Financial has established several climate commitments. The company aims for a 30% reduction in both Scope 1 and 2 emissions by 2025, against a 2019 baseline. Additionally, they are targeting a 50% reduction in Scope 1 and 2 emissions by 2030, and a 70% reduction by 2035. For Scope 3 emissions, Definity Financial has set a target of a 65% reduction by 2030 and an 85% reduction by 2035, against a 2020 baseline. They have also set an ambitious goal to achieve net-zero emissions across their operations and investment portfolios (listed equity and corporate bonds only) by 2040 or sooner. The company is also committed to the Science Based Targets initiative (SBTi), aiming for net-zero emissions by 2050.