Great West Lifeco

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.