WATERLOO, ON, May 16, 2022
/CNW/ - Definity Financial Corporation's ("Definity") (TSX: DFY)
2021 Environmental, Social, and Governance (ESG) Report is now
available at
https://www.definityfinancial.com/English/sustainability/default.aspx#reporting.
This inaugural sustainability-focused report accompanies Definity's
first Task Force on Climate-related Financial Disclosures (TCFD)
report and 2021 Public Accountability Statement, which are each
also available at
https://www.definityfinancial.com/English/sustainability/default.aspx#reporting.
"Our purpose is building a better world by helping our customers
and communities adapt and thrive. This is an ongoing reminder of
our responsibility to be a positive force for all of our
stakeholders," said Rowan Saunders,
President and CEO at Definity. "In an age of increasingly complex
and interconnected challenges, we are building on our long-standing
efforts to create positive impacts for our people, our communities
and our environment. When it comes to our commitment to fulfilling
our purpose, our ambition, and our promise of making insurance
better, the good work highlighted in these reports represents an
important step in the right direction."
Highlights from Definity Financial Corporation's 2021 ESG Report
include:
OUR PEOPLE
- Established goals to have at least 30% women and 15% from
equity-deserving groups (Black, Indigenous, People of Colour,
members of the LQBTQ+ community, persons with [dis]abilities) in
VP+ roles by 2026
- Continued attracting and developing diverse talent throughout
the organization to uphold a culture where all Definity employees
can feel safe to be the fullest version of themselves:
-
- 49% of manager and director-level roles were held by women
- 28% of employee survey respondents self-identified as BIPOC
(Black, Indigenous, Person of Colour)
- 10% of employee survey respondents self-identified as members
of the LGBTQ+ community
- 89% of employee survey respondents felt that Definity is
accepting of diverse backgrounds and ways of thinking, and included
at work for who they are
- 83% of employee survey respondents indicated a belief that
Definity is committed to social and environmental
sustainability
- 80% employee engagement score
OUR COMMUNITIES
- $100 million in demutualization
benefits allocated to fund Definity Insurance Foundation, a new
registered charity in Canada
- Committed to contribute 1% of Definity's net profit before tax
to Definity Insurance Foundation annually for the next five
years1
- Invested nearly $1 million in
local communities
- Employees donated over $50,000 to
registered charities of their choice via Definity's workplace
donations platform, 82% of which were matched by Definity
- Made two paid volunteer days per year available to all Definity
employees
OUR ENVIRONMENT
- Committed in early 2022 to achieve net-zero emissions from both
its operations and its investment portfolio2 by 2040 or
sooner, and committed to the Science-Based Targets initiative
- Achieved a 17% reduction in Scope 1 and 2 greenhouse gas
emissions from 2020 levels, and a 31% reduction since pre-pandemic
2019 levels
- Invested $1.6 million in
energy-efficiency focused office retrofits in 2021 and over
$4.6 million since 2019
- Supported the recommendations of the Task Force on
Climate-related Financial Disclosures (TCFD), pledging to
disclosure concerning Definity's governance, risk management,
strategy, and metrics and targets related to the risks and
opportunities presented by our changing climate (inaugural TCFD
report available now at
https://www.definityfinancial.com/English/sustainability/default.aspx#reporting)
About Definity Financial
Corporation
Definity Financial Corporation is the parent company to some of
Canada's most long-standing and
innovative multi-channel, property and casualty insurance companies
and distributors, including Economical Insurance, Sonnet Insurance,
Family Insurance Solutions, and Petline Insurance.
Forward-looking
statements
This news release contains "forward-looking information" within
the meaning of applicable securities laws in Canada, which reflects Definity's current
expectations regarding future events, including statements
concerning the approaches to be taken by Definity in relation to
operations and investments with a view to achieving net-zero
emissions and the timing thereof; Definity's plans for future
disclosure relating to risks and opportunities presented by climate
change; Definity's leadership diversity goals; and Definity's
future contributions to Definity Insurance Foundation.
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond Definity's control. These assumptions, risks and
uncertainties are detailed in the "Cautionary Statements About
Forward-Looking Information" sections in the 2021 ESG Report and
the inaugural TCFD report. Actual results could differ materially
from those projected herein. Definity does not undertake any
obligation to update such forward-looking information, whether as a
result of new information, future events or otherwise, except as
expressly required under applicable securities laws.
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1 With
a minimum annual contribution of $250,000.
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2 Listed equities and corporate
bonds.
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SOURCE Definity Financial Corporation