Manulife uses cookies to personalize your experience, analyze site traffic and serve targeted ads. Learn more about your privacy options.

View more

Manulife uses cookies to personalize your experience, analyze site traffic and serve targeted ads. Learn more about your privacy options.

View more
Confirm
Skip to main content Skip to notification content
Back

Download the 2021 Environmental, Social and Governance Report

Governance and disclosures

Our sustainability governance framework enables us to achieve our sustainability objectives across our global franchise, facilitating easier and more strategic decision-making within the context of our business objectives.

Oversight of our ESG framework is part of the mandate of our Board of Directors’ Corporate Governance and Nominating Committee (CGNC). The CGNC reviews the progress made on our sustainability strategy and stays informed of ESG trends, risks and opportunities through management reporting. Members of the CGNC include the Chairman of the Board and six independent Board members. Board members also receive ongoing education through presentations and information packages about emerging issues and topics relevant to our business and operations and the regulatory environment to enhance their knowledge and understanding of ESG matters. 

The CGNC’s oversight of our ESG framework complements the work of the Executive Sustainability Council (ESC). The ESC consists of our Global Chief Sustainability Officer (CSO) along with nine members of our Executive Leadership Team (ELT), including our Chief Executive Officer (CEO). 

The chair position, currently held by our Global Chief Marketing Officer, is held on a two-year rotational basis. Meeting on a monthly basis, the ESC is responsible for establishing the enterprise’s sustainability ambition, guiding the development and execution of the sustainability strategy and providing recommendations and direction on matters related to ESG. In addition to the ESC, we have subsidiary-specific committees that execute asset-class-specific sustainability objectives. 

The CSO chairs Manulife’s Sustainability Centre of Expertise (CoE), which consists of corporate function and business unit sustainability leads tasked with integrating sustainability into our business practices. This group’s responsibilities include leading the development and implementation of the sustainability strategy; ensuring integration of sustainability into business unit strategies, policies and procedures; and advising on sustainability matters and providing support and capacity building to business units. 

Led by the CSO, Manulife’s Global Climate Change Taskforce consists of representatives from multiple businesses and functional areas. It drives the development of the climate strategy, risk management activities on climate-related matters, performance tracking and disclosures. The Climate Change Taskforce supports execution of our climate action plan and includes representation from subsidiary-specific working groups. 

In order to combat the consequences of climate change, we collaborate with other like-minded organizations that feel passionately about the cause. Our strategy is to work together with those from diverse backgrounds and in different industries. It is a well-rounded approach that checks off proactive milestones, so we are all held accountable in the global fight to preserve our environment.

  • Climate Action 100+
  • United Nations Environmental Program (UNEP) Finance Initiative
  • Task Force on Climate-related Financial Disclosures (TCFD)
  • Accounting4Sustainability (A4S) CFO Leadership Network
  • Principles for Responsible Investment (PRI)
  • Business Ambition for 1.5
  • Stakeholder Capitalism Metrics Initiative

The following are our Sustainability related policies and position statements that guide our work:

Sustainability Related Policy Chart
Environmental Policy
Climate Change Statement
Global Human Rights Statement
Sustainable Bond Framework
Global Health and Safety Policy
Global Tax Strategy
Vendor Code of Conduct

 

Cluster Munition Policy

Manulife will not knowingly make direct investments in companies that manufacture cluster munitions where we have discretion to do so. This policy applies to policyholder funds (Manulife’s “General Account” funds) and third-party client funds of Manulife Investment Management. This policy does not apply to investments where we do not have investment discretion such as index investments, unaffiliated fund mandates and client-directed managed accounts.

Manulife uses an independent third party to maintain an exclusion list of companies that manufacture cluster munitions. The exclusion list is updated on a quarterly basis. 

In early 2019, Environmental, Social and Governance (ESG), oversight was added to the charter of the Board’s Corporate Governance and Nominating Committee. The Committee reviews our sustainability strategy progress and stays informed of ESG trends, risks and opportunities through management reporting. Members of the Committee include the Board Chair and five independent Board members. 

The Committee’s oversight of ESG complements the work of the Executive Sustainability Council (ESC). The ESC, which consists of eight members of our executive leadership team, is responsible for establishing the enterprise’s sustainability ambition, guiding the development of the sustainability strategy and providing recommendations and direction on matters related to sustainability. In addition to the ESC, we have a subsidiary-specific committee that executes asset class specific sustainability objectives.

 

The following are our Sustainability related policies and position statements that guide our work:

Sustainability Related Policy Chart
Environmental Policy
Climate Change Statement
Global Human Rights Statement
Sustainable Bond Framework

Global Health and Safety Policy

Global Tax Strategy

 

Cluster Munition Policy

Manulife will not knowingly make direct investments in companies that manufacture cluster munitions where we have discretion to do so. This policy applies to policyholder funds (Manulife’s “General Account” funds) and third-party client funds of Manulife Investment Management. This policy does not apply to investments where we do not have investment discretion such as index investments, unaffiliated fund mandates and client-directed managed accounts.

Manulife uses an independent third party to maintain an exclusion list of companies that manufacture cluster munitions. The exclusion list is updated on a quarterly basis.