Manulife

In terms of senior leadership accountability, the responsibility for sustainability issues within the financial institution lies with the highest governing body. The financial institution publicly commits to gender equality and women’s empowerment. In terms of female representation in leadership positions, the financial institution has a gender-balanced board of directors where 6 out of 14 members are women. The financial institution also has gender-balanced representation among its senior leadership roles where 43% are women. Manulife has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees. Nevertheless, the financial institution publishes case studies describing where it has engaged successfully and unsuccesfully with clients on sustainability themes and impact topics.

Manulife identified and prioritised its impacts through a materiality assessment process which included feedback from external stakeholders. The financial institution discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations.

Manulife discloses the key sectors it has identified as priorities to engage with on climate change, and the rationale for choosing these priorities. As a member of Climate Action 100+, the financial institution discloses that it collectively engages with its clients on the topic of climate change. Manulife discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are. The financial institution is committed to minimising its negative impacts on nature and biodiversity.

Manulife has a publicly available policy statement committing it to respect human rights. The financial institution discloses the proportion of women in its total direct operations workforce for each employee category.

The financial institution also has a grievance mechanism accessible to all workers to raise human rights complaints or concerns. The grievance mechanism accessible to all external individuals and communities to raise human rights complaints or concerns. In addition, the financial institution has a publicly available policy statement which shows it is committed to respecting the health and safety of workers. The financial institution also has a policy prohibiting bribery and corruption as well as a grievance mechanism for stakeholders to raise concerns and complaints regarding bribery and corruption.

Manulife has a publicly available policy statement committing it to respect the ILO core labour rights. The financial institution discloses a public commitment to protect personal data. The financial institution includes anti-bribery and anti-corruption clauses in its contracts with direct business relationships.

The financial institution specifies that it does not make political contributions.

In terms of its approach to senior leadership accountability, there is no evidence that the financial institution links the remuneration of its executive or management teams to sustainability performance criteria. There is no evidence that the financial institution discloses the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category. There is also no evidence that the financial institution discloses the actions taken to address any pay gaps.

The financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.

There is no evidence that Manulife discloses a target to reach net-zero financed emissions by 2050. There is no evidence that the financial institution discloses alignment with the Paris Agreement as one of its engagement priorities with companies to which it provides financial services. There is also no evidence that Manulife discloses that it requires companies to which it provides financial services to have a strategy aligned with the Paris Agreement. There is no evidence that the financial institution discloses time-bound targets explicitly for its climate solutions.

Manulife has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. There is no evidence that the financial institution discloses the proportion of its total direct operations workforce for each employee category by age group. There is no evidence that the financial institution describes the process for identifying its bribery and corruption risks and impacts in specific locations or activities covering its own operations. To provide transparency on financial inclusivity, Manulife has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.