Manulife has released its 2024 Sustainability Report and Public Accountability Statement, outlining its progress and initiatives tied to environmental, social, and governance (ESG) goals across its insurance and asset management businesses. The report details several partnerships and programs launched in 2024 as part of the company’s broader “Impact Agenda,” which focuses on health and well-being, inclusive economic opportunity, and climate-related investment.
Key Initiatives and Partnerships
Manulife partnered with Uplink, the World Economic Forum’s open innovation platform, to support early-stage solutions for aging populations. The partnership includes a series of global longevity innovation challenges. The first round concluded in 2024, with 10 selected startups each receiving $50,000. A second challenge, focused on Asia’s demographic trends, is currently in progress, with winners to be named later in 2025.
The company also entered into a five-year research collaboration with MIT AgeLab aimed at producing research and insights into aging and financial preparedness. This collaboration underscores Manulife’s commitment to understanding and addressing the challenges associated with aging populations.
In addition to its work on aging populations, Manulife began a partnership with the Centre for Addiction and Mental Health (CAMH) to support mental health research focused on women. The insurer’s group benefits division also published a report with CAMH and Cleveland Clinic Canada on health challenges affecting women in the workplace. These initiatives highlight Manulife’s focus on mental health and women’s well-being.
Climate Investment and Community Initiatives
In the climate investment space, Manulife closed the Manulife Forest Climate Fund LP, securing commitments totaling US$480 million. The fund is part of the firm’s strategy to grow its presence in forestry-based assets and nature-based climate solutions within its private markets portfolio.
Other community-based initiatives included the expansion of financial literacy efforts through its Smart$ense campaign in the United States, adapted from a program originally launched in the Philippines. The campaign received industry recognition at the 2024 Investment Management Education Alliance Star Awards.
In Hong Kong, Manulife partnered with mental health non-profit Mind HK to support awareness campaigns and public events related to mental health education. This partnership demonstrates Manulife’s commitment to promoting mental health awareness in the communities it serves.
Responsible AI Principles
The report also introduced Manulife’s Responsible AI Principles, designed to guide the development and use of artificial intelligence across its operations. The framework focuses on ethics, safety, and transparency, reflecting Manulife’s commitment to responsible innovation.
“As a global life insurer, asset manager, and retirement plan provider, Manulife is working to support long-term well-being and resilience among the communities it serves,” said Sarah Chapman, chief sustainability officer at Manulife. “Incentivizing behavioral change, improving access to resources, and integrating responsible innovation are all part of how we aim to deliver on that commitment.”
Manulife serves over 36 million customers globally and says it will continue to align its ESG priorities with its broader business strategy heading into 2025.
