Definity Financial Corporation

Climate Impact & Sustainability Data (2023)

Total Carbon Emissions:30,833 tCO2e (net of reductions from GNG and RECs)

Scope 1 Emissions:1,691 tCO2e

Scope 2 Emissions:177 tCO2e (market-based)

Scope 3 Emissions:29,560 tCO2e (excluding investments)

Reduced Scope 1 and 2 greenhouse gas emissions by approximately 25% relative to 2019 baseline levels
Launched Sonnet Shift, a usage-based insurance product incentivizing less driving

Contributed $2,350,000 to the Definity Insurance Foundation
More than doubled employee volunteerism year-over-year
Launched initiatives to advance Indigenous reconciliation
Developed practical tools to assess and mitigate bias in machine learning models

Long-term Goals:

Achieve net-zero emissions in operations and investment portfolio by 2040 or sooner

Medium-term Goals:

Short-term Goals:

Increasing frequency and severity of extreme weather events impacting claims and operations
Transition risks associated with a low-carbon economy
Maintaining competitive pricing and coverage options in a changing market
Managing climate-related risks in investment portfolio

Integrated climate risk and opportunity considerations across the business
Developed relationships with reinsurers to manage catastrophe loss exposure
Incorporated climate risks and opportunities into capital and operating budget planning
Adopted targets to reduce emissions intensity of equity and corporate bond investments
Enhanced modeling capabilities to understand climate-related risk exposures

Frameworks Used: GRI, SASB, TCFD (implicitly), PCAF

Third-party Assurance: Ernst & Young LLP (EY)