QUEBEC, March 28, 2025 /CNW/ - iA Financial Group is pleased to announce the online publication of its Sustainability Report for the year 2024 centred around the theme "Growth Oriented, Excellence Driven", as well as its 2024 Climate Change Performance Report. They present the company's progress and achievements with regard to sustainability and the fight against climate change.
"The Sustainability Report reflects iA Financial Group's vision for the future and its commitment to innovation in order to better serve its clients, inspire its employees and support its communities. More specifically, this year, we have developed a strategic framework to identify climate change risks, continued the decarbonization of our investments, improved our governance structure and pursued our initiatives aimed at promoting a culture conducive to a learning organization, but also to equity, diversity and inclusion," said Caroline Drouin, Vice-President, Investor Relations, Sustainability and Public Affairs.
New stages in the climate strategy
In 2024, we focused our efforts on developing a strategic framework which, when finalized, will enable us not only to identify climate change risks, but also to explore related opportunities.
In addition, our approach to decarbonizing our real estate and investment portfolios is making methodical progress. Each environmental initiative undertaken in 2024 is part of a long-term vision and a process of continuous improvement.
By 2035, we aim to reduce the GHG emission intensity of our Canadian real estate holdings1 by 60% and the carbon intensity of our public corporate bond portfolio by 40%, compared to our 2022 baseline1, of which the portion subject to our decarbonization commitment currently represents investments of around $13.5 billion dollars as at January 16, 2023.
Progress made towards the achievement of these targets as at December 31, 2024:
A 9.23% reduction in the carbon intensity of our owned Canadian properties
A 24% reduction in the carbon intensity of our public corporate bond portfolio
For the fourth consecutive year, iA Financial Group has published its 2024 Climate Change Performance Report. This report provides information on iA Financial Group's climate change performance for the year 2024 and on the progress made in developing our climate change strategy.
Initiatives to foster a culture conducive to a learning organization and to equity, diversity and inclusion
As a learning organization, iA Financial Group continues to expand its programs aimed at developing employees' skills both professionally and personally, enabling them to aspire to greater achievements.
In addition, recognizing the importance of creating an equitable, diverse and inclusive environment, and with the aim of further developing this strategy, we recommend various data collection tools, including a self-identification questionnaire for our employees in Canada to better understand them and better equip them.
In 2024:
78% of our employees in Canada completed the self-identification process
53% of new appointments to iA Financial Group senior leadership positions2 were women
Women accounted for 37% of senior management
Additionally, iA Financial Group completed the second phase of the Canadian Council for Aboriginal Business's Partnership Accreditation in Indigenous Relations "PAIR" certification process and retained Silver Parity Certification, awarded by Women in Governance.
Finally, the company continued to pursue its philanthropic endeavours, with contributions totalling $10.4 million to various charitable organizations in Canada and the United States.
A successful employee experience
iA Financial Group has also stayed the course when it comes to supporting the development of its employees, notably through its employee experience program. iA Financial Group has been ranked 57th on Forbes' list of Canada's Best Employers for 2025.
Improved governance structure
Governance remains a fundamental dimension of our achievements. Moreover, iA Financial Group improved its governance structure with regard to sustainability in 2024. For instance, a Sustainability Executive Committee was established, as well as an Executive Risk Management Committee to define our climate risk appetite and tolerance.
Our sustainability approach In order to be a company that contributes to sustainable growth and the wellbeing of its clients, employees, partners, investors and communities, iA Financial Group has made sustainability a priority.
This document contains forward-looking statements within the meaning of securities laws, particularly with respect to iA Financial Group's sustainability, governance, environmental and social targets and commitments and the fight against climate change, as well as those related to climate change mitigation and adaptation, including strategies, initiatives and objectives related to greenhouse gas (GHG) reduction, carbon offsetting and climate risk assessment and adaptation, integrating climate considerations into iA Financial Group's investment process, updating its climate strategy, implementing sound climate risk management, strengthening our resilience to the physical impacts of climate change, and establishing a climate risk governance framework. These statements are not historical facts; they represent only expectations, estimates and projections regarding future events and are subject to change.
Although iA Financial Group believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. As certain material factors or assumptions are applied in making forward-looking statements, actual results may differ materially from the predictions, forecasts, projections, objectives, expectations, conclusions and other forward-looking statements expressed or implied in such statements. Moreover, many of the assumptions and factors (including standards, metrics and measures) used in the preparation of the Sustainability Report continue to evolve and are based on assumptions considered reasonable at the time of writing, but their accuracy should not be considered guaranteed.
Material factors and risks, including those related to sustainability, which could cause actual results to differ materially from those projected (many of which are beyond the control of iA Financial Group and the effects of which may be difficult to predict) include the following: climate conditions and weather events; the need for the active and constant stakeholder participation (including governmental and non-governmental organizations, other financial institutions, businesses and individuals); variable decarbonization efforts across economies; the absence of globally harmonized climate policies; the challenges of balancing emissions with an orderly and inclusive transition; geopolitical factors that influence global energy needs; the need for more and higher quality climate data and for standardization in climate measurement and verification methods; the ability to implement various initiatives across the business within the set time limits; the risk that initiatives will not be completed on time, will not be completed at all, or will be completed without the expected or anticipated results; compliance of third parties with our policies and procedures and their commitment to iA Financial Group; financial market conditions; the commercial activities, iA Financial Group's financial results and financial position; the development and deployment of new technologies and methods; changes in consumer behaviour; the local, national and international legal and regulatory framework; compliance and regulatory risks (which could lead to restrictions, penalties and fines); and strategic, reputational and competitive risks. Material assumptions and factors used in preparing the forward-looking statements contained in the Sustainability Report in connection with the Corporation's insurance and asset management business are also set out in the "Identification and assessment" section of the Corporation's 2024 Climate Change Performance Report, which is available on the Corporation's website at ia.ca.
Additional information regarding certain other important factors that could cause actual results to differ materially from expectations and regarding material factors or assumptions underlying the forward-looking statements may be found in the Risk Management section of the 2024 Annual MD&A and in the "Management of Financial Risks Associated with Financial Instruments and Insurance Contracts" note to the Audited Consolidated Financial Statements for the year ended December 31, 2024, as well as in the Corporation's other filings with the Canadian Securities Administrators available at sedarplus.ca or on the Corporation's website at ia.ca. The forward-looking statements in this document relate to future events or results and reflect the Corporation's expectations at the date of its publication. The Corporation does not undertake to update or review any forward-looking statements to reflect events or circumstances after the date of this document report or to reflect the occurrence of unanticipated events, except as required by law.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is one of Canada's largest public companies. It is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).
iA Financial Group is a business name and trademark of iA Financial Corporation Inc.
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1 These targets constitute "forward-looking statements" within the meaning of securities laws. Actual results may differ materially due to many factors, including the risk factors mentioned herein. See "Forward-looking statements" below for further information.
2 iA Financial Group "senior leadership positions" denote senior executives and senior management, as well as senior management of the main subsidiaries that comprise the Group.
