National ranking names The Co-operators as sustainability leader of Canada's insurance and financial services sector
Jun 30, 2021
Impact investing efforts, and share of "clean revenue" earn The Co-operators a top spot on the 2021 Corporate Knights Best 50 Corporate Citizens in Canada ranking
GUELPH, ON, June 30, 2021 /CNW/ - In a national "clean capitalism" ranking issued by Corporate Knights across North America this morning, The Co-operators earned the top position among insurance and financial service companies, and the #3 spot overall. This marks the twelfth consecutive year the Canadian financial services and insurance co-operative has been included in the annual ranking, including holding the #1 spot in 2019 and 2011, underscoring its continued leadership across environmental, social, and governance–related sustainability performance indicators.
"Our continued recognition as part of a movement of Canadian companies supporting the transition to a sustainable economy reflects our co-operative's mission, and our vision to catalyze sustainability through our products, services, investments and solutions," says Rob Wesseling, President and CEO of The Co-operators Group limited. "Through our journey to sustainability we can help ensure our strength and resilience, not only for our co-operative, but all Canadians."
Highlights of The Co-operators 2020 sustainability performance include:
- 20.1% revenue from products and services that enable a sustainable, low-carbon, or resilient society (including Comprehensive Water, Canada's first overland flood insurance product to cover all flood risk levels, including storm surge coverage)
- 20.8% of its invested assets are impact investments that address pressing environmental and social issues. Over 75% of these investments are directed towards projects and initiatives that address climate change.
- Achieved carbon neutral equivalency in 2020
Catalyzing climate action in Canada's insurance and financial services sector
Furthering its action towards sustainability in 2021, The Co-operators recently announced targets to achieve net-zero emissions in both its investments and its operations, by 2040 and 2050, respectively. They have also signed on to join the United Nations Net-Zero Asset Owner Alliance, becoming the first Canadian insurance and financial services organization to do so. Discover more about The Co-operators net-zero targets and climate action.
For a full view of The Co-operators sustainability, financial, and governance performance, please view its 2020 Integrated Annual Report (integratedreport.cooperators.ca).
About The Co-operators
The Co-operators Group Limited is a Canadian co-operative with more than $57.8 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability, and achieved carbon neutrality in 2020. The Co-operators is ranked as a Corporate Knights' Best 50 Corporate Citizen in Canada and listed among the Best Employers in Canada by Kincentric. For more information visit: www.cooperators.ca.
SOURCE The Co-operators Group Limited
For further information: The Co-operators, firstname.lastname@example.org