Manulife Sustainability Profile
Manulife Financial Corporation, commonly known as Manulife, is a leading international financial services group headquartered in Canada. Established in 1887, the company has grown to become a prominent player in the insurance and investment sectors, with significant operations across North America and Asia. Manulife offers a diverse range of products, including life insurance, health insurance, and wealth management solutions, distinguished by their customer-centric approach and innovative technology. The company is recognised for its strong market position, consistently ranking among the top insurers in Canada and making notable strides in the Asian market. With a commitment to sustainability and community engagement, Manulife continues to evolve, ensuring it meets the changing needs of its clients while maintaining a legacy of trust and reliability.
DitchCarbon Score
How does Manulife'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 Financial Intermediation 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
Manulife's score of 57 is higher than 74% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Manulife's reported carbon emissions
In 2024, Manulife reported total carbon emissions of approximately 209.3 million kg CO2e, comprising 123.9 million kg CO2e from Scope 1 and 85.4 million kg CO2e from Scope 2 emissions. The previous year, 2023, saw total emissions of about 242.6 million kg CO2e, with Scope 1 emissions at 140.2 million kg CO2e and Scope 2 emissions at 102.4 million kg CO2e. This indicates a reduction in total emissions of approximately 33.3 million kg CO2e from 2023 to 2024. Manulife has committed to achieving a net zero investment portfolio for its General Account by 2050, a target that aligns with global climate change mitigation efforts. This commitment is part of a broader strategy to address all scopes of emissions, as indicated by their long-term targets set in 2023. The company is also a member of the Science Based Targets initiative (SBTi), reinforcing its commitment to science-based climate action. Manulife's emissions data is sourced directly from its own reporting, with no cascaded data from parent organizations. Overall, Manulife's ongoing efforts reflect a proactive approach to reducing its carbon footprint and contributing to climate resilience.
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| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 14,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 126,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | - | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 00,000,000 |
| Scope 3 | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | 000,000,000 | - | 000,000,000 | 000,000,000 | - | - | - |
How Carbon Intensive is Manulife's Industry?
How Carbon Intensive is Manulife's Location?
Manulife's Scope 3 Categories Breakdown
Manulife's Scope 3 emissions, which decreased by 38% last year and increased significantly since 2013, demonstrating supply chain emissions tracking. A significant portion of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 45% of total emissions under the GHG Protocol, with "Upstream Leased Assets" being the largest emissions source at 86% of Scope 3 emissions.
Top Scope 3 Categories
Manulife'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.
Manulife 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.
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Frequently Asked Questions
Common questions about Manulife's sustainability data and climate commitments