Sun Life Financial’s primary life insurance subsidiary, Sun Life Assurance Company of Canada, has signed on to the United Nations-supported Principles for Responsible Investment.

It’s 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,” says Stephen Peacher, president of Sun Life Investment Management and chief investment officer at Sun Life Financial.

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.

Implementation of the principles will begin in 2015, and Sun Life Financial anticipates reporting on its progress in 2016.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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