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Manulife's Commitment to Sustainability: Highlights from 2024 Report

Manulife Financial Corporation, a prominent international financial services provider, recently published its 2024 Sustainability Report. This comprehensive update outlines the company’s sustainability initiatives, performance metrics, and broader impact on community health and environmental sustainability. The report signifies a step towards enhancing the well-being of its customers, communities, and shareholders.

Key Initiatives from the 2024 Sustainability Report

1. Partnership with Uplink:
To pioneer longevity innovations, Manulife has developed a three-year partnership with Uplink, the open innovation platform of the World Economic Forum. This collaboration focuses on the Global Longevity Innovation challenges, which aim to encourage investment in innovations enhancing longevity. Following the successful first iteration, which awarded ten startups with $50,000 each, Manulife launched its new challenge, 'Innovating for Asia's Demographic Future', slated for winner announcements in Fall 2025.

2. Manulife Forest Climate Fund:
Demonstrating leadership in forestry investments, the firm closed the Manulife Forest Climate Fund LP with commitments amounting to $480 million. This endeavor reflects the company’s dedication to innovative forestry solutions within its private market assets.

3. Collaboration with MIT AgeLab:
Teaming up with MIT AgeLab, Manulife is embarking on a five-year journey to engage in research driven by the goal of enhancing longevity preparedness. This initiative aims to cultivate empirical insights that benefit consumers in planning for longevity.

4. Mental Health Research with CAMH:
Recognizing the need for mental health support, Manulife has entered a partnership with the Centre for Addiction and Mental Health (CAMH). This collaboration focuses on funding research aimed at understanding health challenges faced by women, with a view of impacting mental health both in Canada and globally through the womenmind™ program.

5. Smart$ense Campaign:
Manulife is also rolling out the Smart$ense Financial Literacy for Kids Campaign in the United States, inspired by the successful Peso Smart program in the Philippines. This initiative aims at empowering children with financial skills, acknowledging education as a critical factor in fostering future economic resilience.

6. New Partnership with Mind HK:
Partnering with Mind HK, Manulife is working to influence mental health support services in Hong Kong while increasing public awareness on mental health issues through a series of events addressing various mental health topics.

7. Responsible AI Principles:
In a digital age, Manulife reinforces its commitment to ethical technology through the launch of its Responsible AI Principles. These guidelines ensure that the design, development, and deployment of AI solutions adhere to sustainability, safety, and transparency standards.

Words from Leadership

Sarah Chapman, Manulife's Chief Sustainability Officer, reflects on the strides made, stating, “As a global life insurer and asset manager, we're uniquely positioned to drive positive change. By incentivizing behavioral modifications and providing vital resources, we can significantly enhance community wellness.” She expressed pride in the year’s achievements and optimism for forthcoming initiatives in 2025.

Conclusion

Manulife's 2024 Sustainability Report is more than a documentation of achievements; it is a declaration of a vision to foster community well-being through sustainable practices. This report not only showcases the company's commitment to responsible business but also sets a precedent for how financial institutions can influence positive change in society. For further details on the sustainability initiatives, visit manulife.com/sustainability.