Sun Life Financial Inc. (TSX: SLF) announced Thursday that its primary life insurance subsidiary, Sun Life Assurance Company of Canada, has signed on to the United Nations supported Principles for Responsible Investment (UN supported PRI).
Sun Life says it is the first major Canadian life insurer to become a signatory. Its affiliate, Sun Life Investment Management Inc., will also adopt these principles.
“Adopting the UN supported PRI is part of our ongoing commitment to sustainability,” said Stephen Peacher, president, Sun Life Investment Management and chief investment ifficer, Sun Life Financial. “The principles are consistent with our existing investment approach, and with the long-term nature of our business. Being a responsible investor contributes to healthy, sustainable communities — to the benefit of our customers and other stakeholders.”
The UN supported PRI, which was established by an international network of investors, requires signatories to implement a series of responsible investment principles. The goal of the program is to help organizations understand sustainability issues associated with their investments, such as their impact on the environment, and to encourage signatories to incorporate sustainability principles into their investment decision-making and ownership practices.
Sun Life Financial is a signatory to the UN supported PRI for its general account assets of over $110 billion and for assets managed by Sun Life Investment Management Inc., which provides investment solutions to pension funds and other large institutional investors. Implementation of the principles will begin in 2015, and Sun Life Financial anticipates reporting on its progress in 2016.