Climate change is a defining issue of our time. As a responsible corporate citizen in the property and casualty insurance industry, Definity takes an active role in managing environmental risks and making informed decisions to protect our environment. We prioritize sustainability to mitigate climate change and help Canadians and their businesses be more resilient to the effects of our changing climate.

Our goal is to achieve net-zero greenhouse gas emissions in our operations and investment portfolio by 2040 or sooner.

How we’re working to fight climate change

Through our operations

Definity actively incorporates climate change mitigation efforts into our facilities and our business practices. We work to reduce the emissions of our buildings, including efficiency upgrades to our lighting, heating, cooling, and ventilation systems. We’ve introduced measures to reduce paper consumption and printing waste, and we encourage our employees to attend out-of-town meetings virtually, or commute and travel using more environmentally friendly means when possible.

We include sustainability considerations in our sourcing and procurement process and aim to work with partners who share our values and commitment to environment, social, and governance (ESG) factors. Our partnership with Bullfrog Power injects renewable energy onto Canadian power grids equal to our total electricity and gas consumption from our owned facilities. Our goal is to achieve net-zero emissions from operations by 2040 or sooner, with interim targets of -30% by 2025 and -50% by 2030.

24%

reduction

Greenhouse gas emissions relative to 2019 (Scope 1 and 2 from owned and leased facilities)

Definity acknowledges and supports the recommendations of the Taskforce for Climate-related Financial Disclosures (TCFD) to communicate our strategy, governance, risk management, metrics, and targets that define our approach to climate change.

Through our products and services

We've developed climate-related offerings for our clients to help them mitigate the effects of climate change on their property and activities. These include:

  • Eco-friendly products like Sonnet Shift — a usage-based insurance product that rewards fuel-efficient driving habits and donates 1% of premiums to local charities focused on green infrastructure development
  • Available discounts for homes that have backflow valves, sump pumps, or water sensors
  • A partnership between Sonnet and FLO, one of North America’s largest electric vehicle (EV) charging networks, to offer discounts to FLO members who have an EV on their auto insurance policy
  • Amending coverage for residential solar panels so clients are not prevented from installing solar panels and batteries to store energy
  • Updates to our claims processes to reduce waste, including Advanced Structural Drying and decontamination solutions, and repair versus replace where possible
  • Solutions to increase our clients’ resilience to climate change, including a green endorsement that provides property claimants additional funds to include climate resilient or environmentally friendly solutions in their repairs
  • A collection of educational materials, social media posts, and blog articles on how to reduce environmental impact and avoid damage caused by severe weather

Visit the Economical blog Visit the Sonnet blog

Through our investments

Definity maintains a conservative and well-diversified investment portfolio according to our business needs. Our investment team continuously tracks the ESG ratings and performance of our holdings, so they reflect our policies and commitments.

Our Sustainable Investment Policy Statement outlines our incorporation of ESG factors into the investment process, including exclusions related to tobacco, controversial weapons, and thermal coal.

Definity is taking additional steps to assess and monitor the greenhouse gas emissions associated with our investment portfolio and continues to pursue green and sustainable investment opportunities. Our goal is to achieve net-zero emissions from our investments by 2040 or sooner, with interim targets of -30% by 2025 and -65% by 2030.

Through our communities and partners

Definity engages with a variety of industry groups, community organizations, and other partners to support progress on climate change and other environmental issues, including partnerships with:

  • Climate Proof Canada, a cross-sector coalition that advocates for building a more disaster-resilient Canadian economy and society, including the implementation of the National Adaptation Strategy
  • Two leading Canadian post-secondary institutions, focusing on the physical risks of climate change on property insurance portfolios
  • Green Communities Canada Living Cities Canada Fund, in support of the creation of equity-driven, green infrastructure projects in urban areas that help absorb excess rainfall, cool our communities, and a buffer to protect Canadians from more frequent and severe weather events
  • Canadian Red Cross, supporting the Disaster Response Alliance and Be Ready emergency preparedness program, helping Canadians strengthen their resilience before, during, and after emergency situations
  • The Insurance Bureau of Canada, contributing o industry dialogue on emerging issues and common approaches to shared challenges and interests, including increasing Canada’s resilience to climate change