Great West Lifeco

Great-West Lifeco, a Direct Life Insurance Carrier headquartered in Canada, reported total carbon emissions of approximately 176.9 million kg CO2e in 2024. This figure comprises 5.88 million kg CO2e from Scope 1 emissions, 9.85 million kg CO2e from Scope 2 (market-based) emissions, and 161.2 million kg CO2e from Scope 3 emissions. Key contributors to Scope 3 emissions in 2024 include purchased goods and services (148.7 million kg CO2e), business travel (7.52 million kg CO2e), and upstream leased assets (2.62 million kg CO2e).

Looking back, the company's Scope 1 and 2 emissions were approximately 20.78 million kg CO2e in 2023 (Scope 1: 7.55 million kg CO2e; Scope 2 location-based: 13.24 million kg CO2e) and 23.95 million kg CO2e in 2022 (Scope 1: 8.62 million kg CO2e; Scope 2 location-based: 15.33 million kg CO2e). In 2021, Scope 3 purchased goods and services were approximately 200 million kg CO2e.

Great-West Lifeco has set ambitious climate commitments, aiming for net-zero greenhouse gas (GHG) emissions in its operations well before 2050, and for financed emissions by 2050. These long-term net-zero targets encompass all emission scopes. The company also previously achieved a 35% reduction in Scope 1 and 2 emissions between 2007 and 2015 for its Canadian corporate head office properties. Additionally, a target was set to achieve an 8% reduction in Scope 1 and 2 GHG emissions for its corporate head office and investment properties between 2013 and 2020. Another absolute reduction target is in place for Scope 1 and 2 emissions for its owner-occupied and investment properties in Canada, aiming for a 77.5% reduction between 2013 and 2025 and a 42.0% reduction between 2013 and 2036.