Definity Financial Corporation releases 2023 Environmental, Social, and Governance (ESG) report and Public Accountability Statement
Definity is guided by its purpose of building a better world by helping clients and communities adapt and thrive. The company is focused on driving positive change by embracing environmental sustainability, fostering a culture of collaboration, incorporating robust governance, and investing in the well-being of the communities Definity serves. The two reports released today demonstrate the commitment and progress Definity has made to drive sustainability and business value by effectively managing ESG risks and opportunities.
- The 2023 Environmental, Social, And Governance Report offers insights into the company's continued proactive approach to environmental, social, and governance topics that matter most to its stakeholders and business
- The 2023 Public Accountability Statement details Definity's contributions to the Canadian economy and society, and highlights the company's continued investment in the well-being of our communities to create measurable social impact
"At Definity, we recognize the crucial role we play in building a better world by helping our clients and communities adapt and thrive. This purpose is an ongoing reminder of our responsibility to be a positive force for all our stakeholders. I am pleased to share our 2023 ESG Report with you, with deeper insight into the progress we are making as we continue to invest in creating a sustainable future."
Key Highlights from the 2023 ESG Report:
- Increased percentage of roles held by women at Vice-President and Executive Leadership Team levels to 24%, up from 19% in 2022
- Logged more than 4,500 employee volunteer hours, more than doubling volunteerism year-over-year by both hours and number of participants
-
Definity Insurance Foundation contributed$250,000 to Green Communities Canada, completing a$500,000 total contribution in support of theLiving Cities Canada Fund to support green infrastructure projects in communities across the country - Contributed more than
$2.6 million in community support, including$2.35 million to theDefinity Insurance Foundation shared mostly between investments in inclusion, diversity, equity, and accessibility initiatives and climate resilience/emergency preparedness programs - Achieved an approximate reduction of 25% in Scope 1 and 2 greenhouse gas emissions (location-based) relative to our baseline 2019 levels, which is on track for our long- term reduction targets
- Supported Climate Proof Canada's advocacy for investment and timely implementation of climate adaptation and resilience measures across the country
- Established a
Climate Centre of Excellence to support inclusion of climate change implications into product development, underwriting, and risk management - Extended our ethical data usage framework to consistently perform bias and fairness assessments when developing predictive models and to address bias if detected
This news release contains "forward-looking information" within the meaning of applicable securities laws in
SOURCE