This afternoon, Sun Life released the results of a shareholder resolution filed by Investors for Paris Compliance regarding the life and health impacts of Sun Life’s fossil fuel investments. 13.7% voted in favour of the resolution.
“We’d like to thank the investors who supported this resolution, and look forward to building support for this relatively new disclosure over the coming years,” said Matt Price, Executive Director of Investors for Paris Compliance.
A global ranking of fossil fuel investors recently found Sun Life to be the largest Canadian investor in coal, oil, and gas at over US$23 billion. Burning fossil fuels causes air pollution that leads to a range of respiratory diseases, heart attacks, and premature deaths, as well as driving the climate crisis.
“This disclosure is critical to assessing whether Sun Life is aligning its investment practices with the well-being of its clients, and therefore its revenue model,” said Kyra Bell-Pasht, Investors for Paris Compliance Director of Research and Public Policy.