Great West Lifeco Inc., a prominent player in the direct life insurance carriers industry, is headquartered in Canada. Founded in 1891, the company has established a strong presence across North America, particularly in Canada and the United States. Great West Lifeco offers a diverse range of insurance products, including life insurance, health insurance, and retirement solutions, distinguished by their commitment to customer service and innovative offerings.
With a focus on financial security and well-being, Great West Lifeco has achieved significant milestones, including strategic acquisitions that have bolstered its market position. The company is recognised for its robust financial strength and has received numerous accolades for its service excellence, making it a trusted choice for individuals and businesses seeking comprehensive insurance solutions.
+11 vs industry average
Great West Lifeco’s score of 64 is higher than 83% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Direct Life Insurance Carriers is among the least carbon-intensive industries
Industry performance
No industry performance data available yet.
The Direct Life Insurance Carriers industry
Reported emissions
No reported emissions data is available for Great West Lifeco yet.
Great West Lifeco's reported carbon emissions
Great West Lifeco Climate Commitments and Emissions Overview
Great West Lifeco, a Direct Life Insurance Carrier headquartered in Canada, has established robust climate commitments, including a long-term goal of achieving net-zero greenhouse gas (GHG) emissions. Their strategy encompasses both operational and financed emissions.
Emissions Data:
For the reporting year 2024, Great West Lifeco reported a total of approximately 174.7 million kg CO2e across Scope 1, 2, and 3 emissions.
- Scope 1: Approximately 5.9 million kg CO2e.
- Scope 2: Approximately 9.8 million kg CO2e (market-based).
- Scope 3: The largest contributor, with purchased goods and services accounting for approximately 148.7 million kg CO2e. Other reported Scope 3 categories include business travel (approximately 7.5 million kg CO2e), upstream leased assets (approximately 2.6 million kg CO2e), waste generated in operations (approximately 2.3 million kg CO2e), and upstream transportation and distribution (approximately 16,000 kg CO2e).
Previous years' data shows varying emission profiles:
- In 2023, total reported Scope 1 and 2 emissions were approximately 7.5 million kg CO2e and 13.2 million kg CO2e respectively, with Scope 3 data being incomplete.
- In 2020, total emissions were approximately 16.4 million kg CO2e for Scope 1, and approximately 27.4 million kg CO2e for Scope 2. Scope 3 emissions for 2020 totalled approximately 97.7 million kg CO2e.
Climate Commitments and Reduction Targets:
Great West Lifeco has set ambitious targets to align with global climate action:
- Net Zero: The company aims to achieve net-zero GHG emissions for its operations well before 2050 and for its financed emissions by 2050. This commitment is supported by interim targets in line with scientific recommendations, which are currently under development.
- Operational Emission Reductions: Specifically, Great West Lifeco has set a target to reduce Scope 1 and 2 GHG emissions for its corporate head office and investment properties. An 8% reduction was targeted between 2013 and 2020. Additionally, a 35% reduction in Scope 1 and 2 emissions was achieved by 2015 for Lifeco Canadian corporate head office properties.
- Financed Emissions: The company has pledged to achieve net zero for financed emissions by 2050.
Great West Lifeco's emissions data and climate initiatives demonstrate a commitment to understanding and mitigating its environmental impact within the direct life insurance sector.
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Great West Lifeco’s Climate Goals (2030 & 2050)
7 goals2050
Hon Hai announced that its near- and long-term net zero targ…
Hon Hai announced that its near- and long-term net zero targets have been validated by the SBTi, including a long-term target to reduce Scop…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Great West Lifeco
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