Manulife Financial Corp
Manulife Financial's GHG Emissions Data Preview
In 2024, Manulife Financial completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Manulife Financial has also provided a category-level breakdown for 9 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | 0000000 |
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aVerified Sources Behind Manulife Financial’s Greenhouse Gas (GHG) Emissions Data
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Insights into Manulife Financial's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions of Manulife Financial amounted to 209,574 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2). a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Manulife Financial decreased by 15.69%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a
Manulife Financial's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Manulife Financial's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Manulife Financial were 123,897 metric tons of CO₂ equivalent (tCO₂e). a
Has Manulife Financial reduced its Scope 1 emissions over time?
Since 2021, Manulife Financial's Scope 1 emissions have decreased by 23.87%, reflecting a declining long-term trend in Scope 1 emissions over time. a b
Compared to the previous year (2023), Manulife Financial's Scope 1 emissions decreased by 11.63%, highlighting the company's efforts to lower direct emissions from assets it owns or controls. a
What are Manulife Financial's Scope 2 emissions?
In 2024, Manulife Financial reported Scope 2 greenhouse gas (GHG) emissions of 85,357 tCO₂e using the market-based method and 85,677 tCO₂e using the location-based method. a
Has Manulife Financial reduced its Scope 2 emissions over time?
Since 2021, Manulife Financial's Scope 2 greenhouse gas (GHG) emissions ( Location-Based) have decreased by 30.95%, reflecting a declining long-term trend in Scope 2 emissions over time. a b
Compared to the previous year (2023), Manulife Financial's Scope 2 emissions (Location-Based) fell by 20.95% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption. a
What methodology does Manulife Financial use for Scope 2 reporting?
In 2024, Manulife Financial reported its Scope 2 emissions using the market-based method and using the location-based method. a
Manulife Financial's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Manulife Financial's Value Chain Emissions
In 2024, Manulife Financial reported 781,253 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain. a
The 2024 disclosure of Manulife Financial includes a breakdown across 8 of the 15 Scope 3 categories defined by the GHG Protocol, down from 9 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions. a
Manulife Financial's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Manulife Financial's Scope 3 emissions?
In 2024, Manulife Financial reported total Scope 3 emissions of 781,253 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 22.03% of these emissions originated from upstream activities such as purchased goods and capital goods, while 77.97% came from downstream activities like product use, distribution, and end-of-life treatment. a
Has Manulife Financial reduced its Scope 3 emissions over time?
Since 2021, Manulife Financial's Scope 3 emissions have increased by 84.91%, reflecting a rising long-term trend in Scope 3 emissions over time. a b
Compared to the previous year (2023), Manulife Financial's Scope 3 emissions decreased by 96.16%, highlighting the company's efforts to lower indirect emissions from its value chain. a
What categories of Scope 3 emissions does Manulife Financial disclose?
In 2024, Manulife Financial reported emissions for 8 out of the 15 Scope 3 categories defined by the GHG Protocol. a
This partial disclosure allows for some insight into the company's indirect impacts.
What are the main sources of Manulife Financial's Scope 3 emissions?
In 2024, the largest contributors to Manulife Financial's Scope 3 emissions were: a
- Downstream Leased Assets (Cat. 13): 609,109 tCO₂e (77.97%)
- Purchased Goods and Services (Cat. 1): 132,491 tCO₂e (16.96%)
- Business Travel (Cat. 6): 16,599 tCO₂e (2.12%)
Manulife Financial's Scope 3 Emissions by Categories
Insights into Manulife Financial’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Manulife Financial reported Scope 1 greenhouse gas (GHG) emissions of 123,897 tCO₂e and total revenues of USD 31,687 millions. This translates into an emissions intensity of 3.91 tCO₂e per millions USD. a
Manulife Financial's Scope 1 Emissions Intensity Compared to Peers
How does Manulife Financial's GHG emissions intensity compare to its peers?
In 2024, Manulife Financial reported a Scope 1 emissions intensity of 3.91 tCO₂e per millions USD. Compared to the peer group median of 0.29 , this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a
Where does Manulife Financial rank on GHG emissions intensity within its industry?
In 2024, Manulife Financial ranked 23 out of 22 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
This places Manulife Financial among the least efficient performers, with one of the highest emissions intensities in its sector. a
Insights into Manulife Financial's Total Carbon Footprint
In 2024, Manulife Financial reported a total carbon footprint of 990,827 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 95.19% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output. a
The largest contributor to Manulife Financial's total carbon footprint was Scope 3 emissions, accounting for 78.85% of the company's total carbon footprint, followed by Scope 1 emissions at 12.5%. a