Definity Financial Sustainability Profile
Definity Financial Corporation, headquartered in California, is a prominent player in the financial services industry, specialising in insurance and investment solutions. Founded in 2020, the company has quickly established itself as a trusted provider, focusing on innovative products that cater to the evolving needs of its clients. With a strong presence across major operational regions in North America, Definity Financial offers a diverse range of services, including property and casualty insurance, life insurance, and investment management. What sets them apart is their commitment to leveraging technology to enhance customer experience and streamline operations. Recognised for its rapid growth and customer-centric approach, Definity Financial continues to solidify its market position, aiming to redefine the standards of financial services in the industry.
DitchCarbon Score
How does Definity Financial's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Definity Financial's score of 69 is higher than 82% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Definity Financial's reported carbon emissions
In 2024, Definity Financial reported total carbon emissions of approximately 25,363,000 kg CO2e, with Scope 1 emissions at about 1,266,000 kg CO2e, Scope 2 emissions at approximately 919,000 kg CO2e, and a significant Scope 3 contribution of about 23,178,000 kg CO2e. This represents a reduction from 2023, where total emissions were about 31,733,000 kg CO2e. Definity Financial has set ambitious climate commitments, aiming for a 30% reduction in both Scope 1 and 2 emissions, as well as Scope 3 financed emissions intensity associated with listed equity and corporate bonds by 2025. Additionally, they have long-term targets of a 50% reduction by 2030 and a 70% reduction by 2035 for Scope 1 and 2 emissions. For Scope 3 emissions, they aim for a 65% reduction by 2030 and an 85% reduction by 2035. Furthermore, Definity has committed to achieving net-zero emissions across its operations and investment portfolios by 2040 or sooner. Definity Financial's emissions data is independently reported and does not cascade from any parent organization. The company is actively engaged in climate initiatives and has committed to the Science Based Targets initiative (SBTi), reinforcing its dedication to sustainable practices within the financial sector.
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| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Scope 1 | 1,820,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 426,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 78,449,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Definity Financial's Industry?
How Carbon Intensive is Definity Financial's Location?
Definity Financial's Scope 3 Categories Breakdown
Definity Financial's Scope 3 emissions, which decreased by 22% last year and decreased by approximately 70% since 2020, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 81% of Scope 3 emissions.
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Definity Financial's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Definity Financial has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
