Sun Life Financial Inc
Sun Life Financial's GHG Emissions Data Preview
In 2023, Sun Life 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).
Sun Life Financial has also provided a category-level breakdown for 5 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020 - 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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Verified Sources Behind Sun Life Financial’s Greenhouse Gas (GHG) Emissions Data
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Insights into Sun Life Financial's Operational Emissions
In 2023, the total operational greenhouse gas (GHG) emissions of Sun Life Financial amounted to 34,218 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 2022, the total operational greenhouse gas (GHG) emissions of Sun Life Financial decreased by 2.82%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a
Sun Life Financial's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Sun Life Financial's Scope 1 emissions?
In 2023, the total Scope 1 emissions of Sun Life Financial were 15,057 metric tons of CO₂ equivalent (tCO₂e). a
Has Sun Life Financial reduced its Scope 1 emissions over time?
Since 2019, Sun Life Financial's Scope 1 emissions have decreased by 10.58%, reflecting a declining long-term trend in Scope 1 emissions over time. a
Compared to the previous year (2022), Sun Life Financial's Scope 1 emissions remained relatively stable, indicating that Sun Life Financial's emissions have plateaued with no significant change in its operational footprint. a
What are Sun Life Financial's Scope 2 emissions?
In 2023, Sun Life Financial reported Scope 2 greenhouse gas (GHG) emissions of 12,553 tCO₂e using the market-based method and 19,161 tCO₂e using the location-based method. a
Has Sun Life Financial reduced its Scope 2 emissions over time?
Since 2019, Sun Life Financial's Scope 2 greenhouse gas (GHG) emissions ( Location-Based) have decreased by 22.48%, reflecting a declining long-term trend in Scope 2 emissions over time. a
Compared to the previous year (2022), Sun Life Financial's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Sun Life Financial 's emissions have plateaued with no significant change in its energy consumption footprint. a
What methodology does Sun Life Financial use for Scope 2 reporting?
In 2023, Sun Life Financial reported its Scope 2 emissions using the market-based method and using the location-based method. a
Sun Life Financial's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Sun Life Financial's Value Chain Emissions
In 2023, Sun Life Financial reported 8,947,866 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 2023 disclosure of Sun Life Financial includes a breakdown across 5 of the 15 Scope 3 categories defined by the GHG Protocol, up from 4 in 2022, reflecting improved emissions accounting practices and greater transparency across the company's value chain a
Sun Life Financial's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Sun Life Financial's Scope 3 emissions?
In 2023, Sun Life Financial reported total Scope 3 emissions of 8,947,866 metric tons of CO₂ equivalent (tCO₂e). a
Approximately 0.47% of these emissions originated from upstream activities such as purchased goods and capital goods, while 99.53% came from downstream activities like product use, distribution, and end-of-life treatment. a
Has Sun Life Financial reduced its Scope 3 emissions over time?
Since 2019, Sun Life Financial's Scope 3 emissions have increased by 22,003.32%, reflecting a rising long-term trend in Scope 3 emissions over time. a
Compared to the previous year (2022), Sun Life Financial's Scope 3 emissions increased by 31,105.5%, suggesting that the company faced challenges in reducing emissions across its value chain. a
What categories of Scope 3 emissions does Sun Life Financial disclose?
In 2023, Sun Life Financial reported emissions for 5 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 Sun Life Financial's Scope 3 emissions?
In 2023, the largest contributors to Sun Life Financial's Scope 3 emissions were: a
- Investments (Cat. 15): 8,905,680 tCO₂e (99.53%)
- Upstream Leased Assets (Cat. 8): 20,616 tCO₂e (0.23%)
- Business Travel (Cat. 6): 18,872 tCO₂e (0.21%)
Sun Life Financial's Scope 3 Emissions by Categories
Insights into Sun Life Financial’s GHG Emissions Intensity Compared to Industry Peers
In 2023, Sun Life Financial reported Scope 1 greenhouse gas (GHG) emissions of 15,057 tCO₂e and total revenues of USD 28,817 millions. This translates into an emissions intensity of 0.52 tCO₂e per millions USD. a
Sun Life Financial's Scope 1 Emissions Intensity Compared to Peers
How does Sun Life Financial's GHG emissions intensity compare to its peers?
In 2023, Sun Life Financial reported a Scope 1 emissions intensity of 0.52 tCO₂e per millions USD. Compared to the peer group median of 0.36 , this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a
Where does Sun Life Financial rank on GHG emissions intensity within its industry?
In 2023, Sun Life Financial ranked 15 out of 22 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
Sun Life Financial is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency. a
Insights into Sun Life Financial's Total Carbon Footprint
In 2023, Sun Life Financial reported a total carbon footprint of 8,982,084 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 13,959.99% increase compared to 2022, suggesting a rise in emissions across its operations or value chain. a
The largest contributor to Sun Life Financial's total carbon footprint was Scope 3 emissions, accounting for 99.62% of the company's total carbon footprint, followed by Scope 2 emissions at 0.21%. a