Definity Financial Corporation announced the Canadian property and casualty insurers’ GHG emissions associated with Scopes 1 and 2 were 35% lower than 2019 levels, surpassing its 2025 interim target of a 30% reduction.

The company’s goal is to achieve net-zero emissions from operations by 2040 or sooner with interim targets of a decrease of 30% by 2025 and 50% by 2030.

Details were released in its 2024 Sustainability Report and its 2024 Public Accountability Statement. 

Definity’s proactive approach to environmental, social and governance (ESG) topics — to provide long-term value for its employees, brokers, customers, shareholders and communities — was recently recognized with an MSCI ESG Rating upgrade to “AAA,” placing Definity among the top-ranked global P&C insurers for ESG risk management and sustainability leadership. 

The insurance company announced it partnered with Dalhousie University’s Mass Timber Project to support the development of a prefabricated modular housing prototype using mass timber, an environmentally friendly alternative to steel and concrete.

“We are on a journey to be one of Canada’s top five P&C insurers,” said Rowan Saunders, President and CEO of Definity, in a statement. “To achieve this, we know it is crucial to build the long-term resilience of our business and the communities in which we live and work. We are forging a path forward as a leading Canadian insurer with a clear vision for our future and delivering on our commitments. I am pleased to share our 2024 Sustainability Report which demonstrates the progress Definity is making as we invest in building a better world.”