Pacific Mutual is an American financial institution offering a wide range of life insurance products, annuities and mutual funds, and a variety of investment-related products and services to individuals, businesses, and pension plans. Pacific Mutual is the parent company of Pacific LifeCorp, which is the parent company of Pacific Life Insurance Company. It was established in 1868 and is headquartered in California, United States. In 2021, it surpassed $200 billion in assets under management.
In terms of its approach to senior leadership accountability, Pacific Mutual Holding Companycould link the remuneration of its executive or management teams to sustainability performance criteria. It could disclose a public commitment to gender equality and women’s empowerment, reach at least 40% female representation in senior leadership positions, disclose the actions taken to address any pay gaps and disclose the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category.Moreover, it has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.
Pacific Mutual Holding Companycould disclose a target to reach net-zero financed emissions by 2050 and the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore, Pacific Mutual Holding Companycould disclose its financing activities devoted to climate solutions. Regarding nature and biodiversity, it could demonstrate how it is committed to minimising its negative impacts or financing regenerative solutions.No evidence was found regarding Pacific Mutual Holding Company’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects.
Pacific Mutual Holding Company has an opportunity to provide a publicly available policy statement committing it to respect human rights laid out in the UNGuiding Principles and the ILO declaration on fundamental rights at work. In addition, it coulddescribe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. Furthermore, it could establish a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns. The insurer has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender, and anindicator of diversity. To provide transparency on financial inclusivity, itcould disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises or low-income developing countries.
More about the company
United States of America
Revenue: USD 13.7 billion; Total assets: USD 209 billion