Definity Financial
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 45 is higher than 95% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Definity Financial's reported carbon emissions
In 2023, Definity Financial reported total carbon emissions of approximately 31,733,000 kg CO2e. This figure includes 1,691,000 kg CO2e from Scope 1 emissions, which primarily arise from direct operations, and 177,000 kg CO2e from Scope 2 emissions, related to purchased electricity and steam. Notably, the company’s Scope 3 emissions were significantly higher, with investments alone contributing approximately 406,150,000 kg CO2e. Over the past few years, Definity Financial has demonstrated a commitment to reducing its carbon footprint. In 2022, the company reported total emissions of about 27,182,000 kg CO2e, a slight increase from 24,250,000 kg CO2e in 2021. This trend highlights the challenges faced in emission reductions, particularly in the financial sector where indirect emissions (Scope 3) can dominate. Definity Financial has set ambitious climate commitments, including a long-term target to achieve net-zero emissions by 2050, as part of its Science Based Targets initiative (SBTi) commitment. This commitment encompasses all scopes of emissions, reflecting a comprehensive approach to sustainability. The company is actively working towards these goals, with a near-term target status of "Committed" and a deadline to submit specific reduction targets by February 2024. Overall, Definity Financial is taking significant steps to address its carbon emissions and align with global climate goals, while navigating the complexities of emissions reporting in the financial services industry.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 1,820,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 426,000 | 000,000 | 000,000 | 000,000 |
| Scope 3 | 78,449,000 | 00,000,000 | 00,000,000 | 000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Definity Financial is committed to some reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
