Company: John Hancock, Boston, MA
Company Description: John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. One of the largest life insurers in the U.S., John Hancock supports more than 10M Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans and college savings plans.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Sustainability
 Nomination Title: Manulife and John Hancock: Building a Better Business to Better the World
- Briefly describe the nominated organization: history and past performance (up to 200 words):
Total 157 words used.
Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions, and retirement plan members worldwide.
At the end of 2021, we had more than 38,000 employees, over 119,000 agents, and thousands of distribution partners, serving over 33 million customers. Our principal operations are in Asia and Canada, and the United States, where we have served customers for more than 160 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. In the previous 12 months we made CAD$32.7 billion in payments to our customers.
- Outline the organization's achievements since the beginning of last year that you wish to bring to the judges' attention (up to 250 words):
Total 237 words used.
Decisions made easier. Lives made better. At Manulife and John Hancock, this is our reason for being. It is core to who we are and the journey we’re on. As a health and wealth company, staying true to our Mission is how we create long-term value for our business, our communities, and the planet.
We are supporting the transition to a net zero economy through our investments and emission reductions, while providing our customers opportunities to take action through offerings like nature-based solutions. We are well positioned to finance projects that benefit the planet like providing financing for renewable power; sustainably managed real estate, timberland, and agriculture assets; purchasing green bonds; and more.
Our specific commitments include:
- Support the transition to a net zero economy with net zero financed emissions by 2050 and absolute scope 1 and 2 emissions reduced 35% by 2035. With our operations already at net zero, we have proven this commitment toward sustainability, but we continue to work on shorter-term targets across our most carbon intensive investments to achieve these goals.
- Protect and grow the value of nature-based solutions, certifying 100% of eligible farmland as sustainably managed by 2023 and reducing paper spend and volume by 35% by 2025, with the remaining from sustainable sources. Through our capabilities in timberland and agriculture, we will accelerate development of investment strategies for those interested in nature-based solutions that capture even more carbon per dollar invested.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 83 words used.
- Manulife and John Hancock’s global Impact Agenda outlines our key social and environmental commitments, in areas where we have the greatest ability to affect change.
- Manulife’s 2021 Sustainability Report and Public Accountability Statement outlines the company’s “journey to net zero” commitments and its overarching sustainability strategy, pillars, governance, and progress to date. The Climate Approach URL overviews the journey to net zero specifically.
- The press release titled “Manulife Investment Management acquires U.S. timberlands for impact-first investment” announces the August 2021 timberland acquisition.
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the nominated achievements since July 1 of 2020, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions, provide them in the appropriate spaces below:
- Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 242 words used.
As a global life insurer and asset manager – and the largest institutional manager of agriculture and timber – we understand the connection between our environment and human health. We are in a unique position to provide nature-based solutions to mitigate climate change, and what sets us apart is that we are leveraging this business to provide nature-based solutions with the goal of achieving our own targets and presenting opportunities for other companies to achieve theirs.
Through our journey to net zero and global Impact Agenda, we are signifying our role as an active contributor in the transition to a world where zero carbon emissions are a reality. We are actively incorporating climate change considerations into our decision making, including how we manage our operations, how we make investment decisions, and how we develop and offer financial products and services.
We are proud to be net zero in our operations, uniquely positioned due to the carbon removals from our substantial owned and operated forests and farmland outweighing emissions, and we are committing to reduce absolute scope 1 and 2 emissions 35% by 2035 and to steering our investment portfolio to be net zero by 2050 while making continued progress against shorter-term targets. We have committed to the Science Based Targets initiative to guide and validate our target setting, measurement, and progress reporting – and we are on track to become one of the first financial institutions globally to have its targets validated.
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