Manulife
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 53 is higher than 98% 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 2023, Manulife reported total carbon emissions of approximately 450,046,000 kg CO2e, with emissions distributed across various scopes: 17,936,000 kg CO2e (Scope 1), 102,442,000 kg CO2e (Scope 2), and 450,046,000 kg CO2e (Scope 3). This marked a significant increase in emissions compared to previous years, particularly in Scope 3 emissions, which include categories such as purchased goods and services. In 2022, the total emissions were about 482,445,000 kg CO2e, with Scope 1 emissions at 11,744,000 kg CO2e and Scope 2 emissions at 109,250,000 kg CO2e. The trend indicates a growing challenge in managing emissions, especially in Scope 3, which is often the most substantial contributor for financial institutions. Manulife has committed to achieving net-zero emissions across all scopes by 2050, as part of its long-term climate strategy. This commitment aligns with the Science Based Targets initiative (SBTi), which underscores the company's dedication to reducing its carbon footprint in line with global climate goals. The company is also a member of the BA1.5 initiative, indicating its commitment to ambitious climate action. Overall, while Manulife has set significant climate commitments, the recent increase in emissions highlights the need for ongoing efforts to meet its targets effectively.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Scope 1 | 32,468,000 | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 156,642,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | 180,000,000 | 000,000,000 | 0,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 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.
Manulife is participating in some of the initiatives that 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.
