Great-West Lifeco Inc.

Climate Impact & Sustainability Data (2017, 2020, 2021-2023)

Reporting Period: 2017

Environmental Metrics

Total Carbon Emissions:48262 tCO2e/year

Scope 1 Emissions:14814 tCO2e/year

Scope 2 Emissions:33448 tCO2e/year

Scope 3 Emissions:89019 tCO2e/year (includes only Canadian investment properties)

Renewable Energy Share:Not disclosed

Total Energy Consumption:235536 MWh/year

Water Consumption:580711 m3/year

Waste Generated:3589 tons/year

Carbon Intensity:Not disclosed

ESG Focus Areas

Climate Change

Environmental Achievements

Achieved 77.5% reduction in Scope 1 and 2 GHG emissions since 2013 (towards a 27.3% reduction target by 2025 for Canadian properties).
Achieved approximately 30,003 tonnes of CO2e emission reductions for the managed portfolio since 2013.

Social Achievements

Not disclosed

Governance Achievements

Board-level oversight of climate-related issues through the Investment Committee and CEO.
Establishment of a Corporate Social Responsibility (CSR) Committee with multi-functional representation.

Climate Goals & Targets

Long-term Goals:

Not disclosed

Medium-term Goals:

50.4% GHG reduction by 2036 for Canadian properties (Scope 1+2)

Short-term Goals:

27.3% GHG reduction by 2025 for Canadian properties (Scope 1+2)

Environmental Challenges

Potential impacts of climate change regulations on investments and operations.
Extreme weather events impacting the reinsurance business.
Reputational risks associated with climate change disclosure.

Mitigation Strategies

Diversification of investment portfolio to limit exposure to climate-sensitive sectors.
Scenario modeling of climate-related events to inform pricing models in the reinsurance business.
Strengthening transparency and credibility of public information on climate-related issues.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

Collaboration with suppliers to encourage alternative and green products and services

Climate-Related Risks & Opportunities

Physical Risks

Extreme weather events (hurricanes, cyclones, floods)

Transition Risks

Climate change regulations, carbon pricing

Opportunities

Investments in renewable energy, energy efficiency improvements

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol

Certifications: Null

Third-party Assurance: PwC (limited assurance)

UN Sustainable Development Goals

Not disclosed

Not disclosed

Sustainable Products & Innovation

Low-carbon products (electronic applications, eClaim services), responsible investment options

Awards & Recognition

Not disclosed

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:140,422 tCO2e

Scope 1 Emissions:16,359 tCO2e

Scope 2 Emissions:27,358 tCO2e

Scope 3 Emissions:97,705 tCO2e

Total Energy Consumption:234,816 MWh

Water Consumption:599,305 m3

Waste Generated:1,790 tons

ESG Focus Areas

Environment
Social
Governance

Environmental Achievements

Reduced absolute GHG emissions (Scope 1) by 26% from 2019 to 2020.
Reduced absolute GHG emissions (Scope 2) by 12% from 2019 to 2020.
Reduced absolute GHG emissions (Scope 3) by 17% from 2019 to 2020.
Reduced absolute waste generated by 36% from 2019 to 2020.
Reduced energy consumed within the organization by 15% from 2019 to 2020.
Reduced water withdrawn by 19% from 2019 to 2020.

Social Achievements

Maintained high employee engagement with 8.4 average training hours per employee in 2020.
Invested $6,800,000 in employee training in 2020.
Donated $17,800,000 to charities in 2020.

Governance Achievements

100% of employees completed Code of Conduct training and sign-off.
Maintained whistleblower programs.

Climate Goals & Targets

Environmental Challenges

COVID-19 pandemic impacted environmental metrics (energy consumption, water use, waste production, GHG emissions) and employee volunteer time.

Mitigation Strategies

Management team adjusted operations to minimize costs and environmental impacts.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards (GRI 2016)

Third-party Assurance: PwC Canada

Reporting Period: 2021-2023

Environmental Metrics

Scope 1 Emissions:7,500 tCO2e (2023)

Scope 2 Emissions:13,985 tCO2e (2023)

Total Energy Consumption:105,037 MWh (2023)

Water Consumption:184,259 m3 (2023)

Waste Generated:395 tonnes (2023)

ESG Focus Areas

Environment
Social
Governance

Environmental Achievements

Reduced absolute Scope 1 GHG emissions from 6,638 tonnes CO2e in 2021 to 7,500 tonnes CO2e in 2023.
Reduced absolute Scope 2 GHG emissions from 16,051 tonnes CO2e in 2021 to 13,985 tonnes CO2e in 2023.
Increased total waste recycled or reused from 139 tonnes in 2021 to 318 tonnes in 2023.
Increased total renewable energy consumption from 28,824 MWh in 2021 to 29,179 MWh in 2023.

Social Achievements

Increased percentage of women in the workforce from 45% in 2021 to 55% in 2023.
Decreased permanent employee turnover rate from 14.1% in 2022 to 14.6% in 2023.

Governance Achievements

Maintained a high average board meeting attendance rate (96%) across the reporting period.
Increased percentage of women on the board from 26% in 2021 to 32% in 2023.

Climate Goals & Targets

Long-term Goals:

Net-zero related goals (details under development)

Environmental Challenges

Data limitations and uncertainties inherent in climate data and reporting, particularly regarding Scope 3 emissions.
Challenges in sourcing EVIC data for financed emissions calculations.
Reliance on investee companies for accurate and consistent climate data reporting.

Mitigation Strategies

Using industry-recognized sources for data where available.
Employing the IFRS S1 and S2 Sustainability Disclosure Standards and the Greenhouse Gas Protocol.
Working towards improving data integrity and consistency over time.