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iA Financial Group has published its 2023 Sustainability Report

Press Release

QUEBEC CITY, April 3, 2024 – iA Financial Group is pleased to present its Sustainability Report for the year 2023. Centred around the theme “Proven Values, Looking to the Future”, it highlights the company’s progress and achievements in the area of sustainability.

A materiality assessment to consult with stakeholders
iA Financial Group kicked off the year 2023 by conducting its first materiality assessment. The company’s Sustainability team met with various stakeholders to gain a clear understanding of which sustainability issues iA is impacting and which will contribute to the company’s sustainable growth in the years ahead. This insightful, relevant exercise has informed iA’s new strategic plan and its new sustainability priorities.

“With each passing year, we strive to honour the commitments we make so that the long-term performance of iA Financial Group also contributes in the transition towards a better world,” says Marie-Annick Bonneau, Senior Vice-President, Investor Relations, Capital Management, Sustainability and Public Affairs. “That is why we aim to continually refer to sustainability principles to guide our decisions and fully incorporate sustainability into our future actions.”
New greenhouse gas (“GHG”) reduction targets
On the environmental front, the company updated its climate strategy, announcing two new, more precise targets for reducing its GHG.

By 2035, iA Financial Group aims to reduce:

  • the GHG emission intensity of its Canadian real estate holdings by 60%
  • the carbon intensity of its public corporate bond portfolio by 40% (relative to its investments totalling $13.5 billion as of January 16, 2023).

For the third consecutive year, iA Financial Group has published its 2023 TCFD Report.

Initiatives to foster a culture of inclusion and diversity
iA Financial Group also continued its efforts to promote diversity, equity and inclusion. The company conducted a first voluntary self-identification survey of the majority of its employees in Canada, with the aim of getting to know them better in order to better equip them. It also revitalized its various employee resource groups and launched a new group for Indigenous communities.

Furthermore, iA completed the first phase of the Canadian Council for Aboriginal Business’s Progressive Aboriginal Relations™ (PAR) certification process. Finally, the company continued to pursue its philanthropic endeavours, with contributions totalling $9.4 million to various charitable organizations in Canada and the United States.

Successful employee and client experiences
iA Financial Group has also stayed the course when it comes to supporting the development of its employees, notably through its employee experience program. iA Financial Group has been ranked 48th best employer in Canada in 2024 by Forbes.

For clients, the company has deployed its global client experience (CX) model to bring the organization into alignment with clients’ needs and to help deliver a client experience that is even more streamlined and consistent, while meeting its growth targets.
Sound, robust governance
iA Financial Group has always placed a high priority on establishing and maintaining sound and prudent corporate governance, in the interest of its stakeholders. The company’s performance was particularly noteworthy in the ranking published by The Globe and Mail (Board Games) in 2023, ranked 7th out of 219 Canadian companies, with a score of 94%.

Click here to access the 2023 Sustainability Report.

Our approach to sustainability
To be a company that contributes to sustainable growth and the well-being of its clients, employees, partners, investors and communities, iA Financial Group makes sustainability a priority.

Caution regarding forward-looking statements
This press release may contain statements relating to strategies used by iA Financial Group or statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “may,” “could,” “should,” “would,” “suspect,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” and “continue” (or the negative thereof), as well as words such as “objective” or “goal” “guidance”, “outlook” and “forecast”, or other similar words or expressions. Such statements constitute forward-looking statements within the meaning of securities laws. In this document, forward-looking statements include, but are not limited to, information concerning iA Financial Group’s strategies, initiatives and goals with regard to sustainability, governance, environmental matters, social engagement and climate change mitigation and adaptation, including the reduction of GHGs. These statements are not historical facts; they represent only expectations, estimates and projections regarding future events and are subject to change. Although iA Financial Group believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. In addition, certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from the predictions, forecasts, projections, objectives, expectations, conclusions and other forward-looking statements expressed or implied in such statements. Moreover, many of the assumptions, standards, metrics and measures used in preparing this report continue to evolve and are based on assumptions considered reasonable at the time of writing but their accuracy should not be considered guaranteed. Material factors and risks which could cause actual results to differ materially from those projected, many of which are beyond the control of iA Financial Group and the effects of which may be difficult to predict, include: the need for more and higher-quality climate data and for standardization in climate measurement methods, climate conditions and weather events, the need for the active and constant stakeholder participation (including governmental and non-governmental organizations, other financial institutions, businesses and individuals), technological advancements, changing consumer behaviour, variable decarbonization efforts across economies, the need for relevant climate policy on a global scale, challenges of balancing emissions with an orderly and inclusive transition, geopolitical factors that influence global energy needs, our ability to collect and verify data, our ability to implement various initiatives across the business within the set time limits, the risk of not completing the initiatives within the set time limits or at all, or without the results intended or anticipated by iA Financial Group, the compliance of third parties with our policies and procedures and their commitment to us, financial market conditions, our commercial activities, our financial results, our situation and goals, the legal and regulatory environment and regulatory compliance (which may expose us to legal proceedings and regulatory action, the consequences of which could include regulatory restrictions, penalties and fines), and strategic, reputational, legal and regulatory, systemic, competitive and other risks.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is one of the largest publicly traded companies in the country. is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares) and IAF (preferred shares).

ia.ca

iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.

SOURCE iA Financial Group

For further information: Pierre Picard, Head of Public Affairs, Office: 418-684-5000, ext. 101660, Email: pierre.picard@ia.ca

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