2018 Sustainability Report Is Diversity and Inclusion
Total Page:16
File Type:pdf, Size:1020Kb
This document contains both information and navigation buttons. To read information, use the Down Arrow from a form field. Sustainability ReporReportt 2018 Building sustainable, healthier communities for life Organizational Environmental Community Governance and Resilience ResponsibilityHome Wellness Risk Management Welcome Table of Contents At Sun Life, our Purpose is to help 03 INTRODUCTION PROGRESS ON PRIORITY TOPICS 46 APPENDIX our Clients achieve lifetime financial 2018 Sustainability Highlights 10 ORGANIZATIONAL Environmental Performance Tables security and live healthier lives. Our President and CEO Message RESILIENCE Sustainable Development Goals Client Focus focus on sustainability helps us bring About This Report About Sun Life Digital Innovation this Purpose to life – and is central to Managing Sustainability Data Security and Privacy our business strategy. Talent Management Workforce Wellness Our 2018 Sustainability Report is Diversity and Inclusion a reflection of our progress, as we 26 ENVIRONMENTAL continue on our journey to embed RESPONSIBILITY Environmental Impacts sustainable practices into our Sustainable Investing business and help tackle social and environmental challenges, from climate 34 COMMUNITY WELLNESS Strategic Philanthropy change to rising diabetes rates. Infrastructure Investments Public Policy 42 GOVERNANCE AND RISK MANAGEMENT Ethics, Integrity and Corporate Governance Risk Management 2 Sun Life 2018 Sustainability Report Organizational Environmental Community Governance and ResilienceHome Responsibility Wellness Risk Management INTRODUCTION 2018 Sustainability Highlights 2% 33% 85% 30% increase in our of Sun Life’s Board of employee engagement score, reduction in paper consumption Client Index score Directors were women exceeding the global financial since 2014, meeting our 2020 services norm target two years ahead of schedule by 20% 2020 $1.7billion 89% $25 million on track to achieve invested to develop resilient, of our employees believe our committed to diabetes GHG emissions intensity safe and sustainable infrastructure business practices demonstrate initiatives since 2012 reduction target in cities and communities sustainability is important to Sun Life 3 Sun Life 2018 Sustainability Report Organizational Environmental Community Governance and ResilienceHome Responsibility Wellness Risk Management Message from the President and CEO Our commitment to Clients is anchored in a 12 new renewable energy investments in Our Clients and our communities are counting bigger Purpose: helping our Clients achieve 2018 in Canada and the U.S., and in the on Sun Life – and as their needs and the world lifetime financial security and live healthier lives. Philippines we purchased green bonds issued around us continue to quickly evolve, now This is our North Star, and is directly aligned specifically to fund renewable energy and more than ever is the time to deepen our with sustainability – an important focus for our other climate-smart projects. Our investment commitment and strengthen our practices as company and essential to our overall success. decisions continue to include climate change we strive to shape a more sustainable future. considerations, and we were proud to co-host At Sun Life, we invest for the future – for the Geneva Association’s global forum our Clients, employees, shareholders and on climate-resilient critical infrastructure. communities. We are focused on creating a diverse and inclusive culture – one that unleashes creativity, fosters innovation, builds At Sun Life, we invest for the Dean A. Connor the best teams and drives value. We take 2018 was a pivotal year for Sun Life’s President & Chief Executive Officer pride in our inclusive environment and have “future – for our Clients, employees, sustainability journey, and this year’s heightened our focus with commitments Sustainability Report highlights the strides made shareholders and communities.” to address gender and visible minority to embed sustainability into our culture and representation, specifically at the leadership level Our sustainability journey continues to advance business operations. to better reflect our Clients and communities. – but we cannot do it alone. In 2018, we For over 150 years, we have proudly served announced support for the Financial Stability In 2018, we also made significant progress on Clients around the globe. We know the Board’s Task Force on Climate-related Financial our targets to reduce our impact on climate actions we take today will lay the foundation Disclosures, joining the commitment to disclose change and support the shift to a low-carbon for generations to come. Our relentless focus climate-related information that will help economy. Climate change is one of the biggest on Clients is fueled by, and depends on, an investors, lenders and others make sound risks facing the planet, and Sun Life has a organization that is competitive, forward thinking financial decisions. responsibility to help. For example, we made and sustainable for the long term. 4 Sun Life 2018 Sustainability Report Organizational Environmental Community Governance and ResilienceHome Responsibility Wellness Risk Management About This Report Published annually, our Sustainability Report aims to inform stakeholders about our progress on our environmental, social, economic and governance priorities, which are based on Reporting Suite stakeholder input and shape the content for this report. The following resources complement our Sustainability Report: The concept of materiality is central to sustainability reporting and helps us determine the set of SUN LIFE FINANCIAL INC. ANNUAL REPORT 2018 REPORT SUN LIFE FINANCIAL INC. ANNUAL Our commitment 2018 Global Reporting Initiative content index to sustainability ANNUAL 2018 GRI Index Sustainability REPORT The Global Reporting Initiative (GRI) provides organizations with a framework to report about their impacts on the economy, environment and/or society. Our Sustainability Report has been prepared in accordance with the GRI Standards: Core option. Sun Life In addition to our Report, some disclosures can be found in our Annual Information Form (AIF), Management Information environmental, social and economic issues on which to focus. The Global Reporting Initiative (GRI) G4 Financial Circular (MIC), Annual Report, Code of Business Conduct and Public Accountability Statement (PAS). Inc. GRI Indicator Indicator Description Cross-Reference/Commentary Sun Life | 2018 Sustainability Highlights Annual GRI 102: GENERAL DISCLOSURES (PDF) Highlights 102-1 Name of the organization Page 2 102-2 Activities, brands, products and services Page 6 At Sun Life our Purpose is to help our Clients achieve lifetime financial 102-3 Location of headquarters Back cover security and live healthier lives. 102-4 Location of operations Page 6 Our focus on sustainability helps 102-5 Nature of ownership and legal form AIF page 3 37,000 112,800 26 countries Guidelines, which have informed our sustainability reporting since 2014, define material aspects as those us bring this Purpose to life. EMPLOYEES ADVISORS OFFICE LOCATIONS 102-6 Markets served Page 6 Report 102-7 Scale of the organization Page 6; Annual Report page 14 (PDF) 102-8 Information on employees and other workers Pages 6, 24; PAS page 7 Environmental Responsibility 102-9 Supply chain Page 28 102-10 Significant changes to the organization and its AIF pages 3-4 We are accountable for the Strong progress towards GHG emissions supply chain impact of our operations intensity reduction targets 30% 102-11 Precautionary Principle or approach Pages 31, 32, 44 reduction in paper consumption on the environment and 30% by 2030 target since 2014, meeting our 2020 30% 102-12 External initiatives Pages 3, 9, 17, 24, 26-28, 31, 34, 43-45 recognize the effects of a target two years ahead of schedule that “reflect the organization’s significant economic, environmental and social impacts; or substantively 102-13 Membership of associations Pages 17, 24, 28, 40, 43, 45 (PDF) changing climate so we 25% 102-14 Statement from senior decision-maker Page 4 are consistently taking steps 20% by 2020 target 20% 102-15 Key impacts, risks and opportunities Throughout report to measure, manage and 17.1% 70% 15% waste diversion rate in our 102-16 Values, principles, standards and norms of Pages 23-25, 40, 43, 44; Code of Business Conduct reduce our impact while major office sites in Canada behaviour supporting the shift to a 10% Reduction Actual reduction 102-17 Mechanisms for advice and concerns about ethics Page 43; Code of Business Conduct lower-carbon economy. 5% Target reduction $5 billion 102-18 Governance structure Pages 5, 8, 43 0% portfolio value of renewable 102-19 Delegating authority Page 8 2014 2015 2016 2017 2018 2019 2020 energy projects, including Baseline year 12 new investments in 2018 influence the assessments and decisions of stakeholders”. We refer to these aspects as “priority topics”. 102-20 Executive-level responsibility for economic, Page 5, 8 environmental and social topics 102-22 Composition of highest governance body and its MIC pages 21-30, 36-45 Organizational Resilience committees 102-23 Chair of the highest governance body MIC page 22 We cultivate an organization Representation of women 102-24 Nominating and selecting the highest governance MIC pages 22-27 1 YORK STREET that is competitive, forward- 350,000+ 3,000+ body phishing simulation tests documents including TORONTO, ON CANADA M5J 0B6 thinking, resilient and 33% 102-25 Conflicts of interest