Menu
Banking Exchange Magazine Logo
Menu

Manulife IM to Cut Emissions in Real Estate by 80%

Canadian management group aims to reduce emissions significantly by 2050

  • |
  • Written by  Banking Exchange staff
  • |
  • Comments:   DISQUS_COMMENTS
Manulife IM to Cut Emissions in Real Estate by 80%

Manulife Investment Management has announced plans to reduce harmful greenhouse gas (GHG) emissions from its real estate portfolio by 80% by 2050.

The Canadian asset management giant set out its plans in a new Real Estate Sustainability report. It aims to become a leader in sustainable real estate and has developed a GHG emissions measurement model adapted for real estate assets.

The “represents a step forward in our commitment to climate change mitigation and our role in the transition to a healthier planet”, said Steve Blewitt, global head of private markets at Manulife.

He added: “Manulife Investment Management’s real estate team has been measuring and reporting on greenhouse gas emissions in our sustainability reports since 2017. Setting this realistic target demonstrates our commitment to holding ourselves accountable and achieving high standards across climate-related considerations.”

To actively demonstrate efforts in carbon reduction, Manulife Investment Management said it had put in place a number of initiatives to identify ways in which it can reduce the emissions profile of its assets and investment funds. These included a “deep carbon retrofit study” for the buildings it owns, as well as an updated leasing process to focus on sustainability.

The company said it would shift to low-carbon fuel sources where possible throughout its infrastructure, and install solar panels and other renewable energy generation and storage assets.

“Through carbon emission reduction, Manulife Investment Management aims to be a key player in the transition to a low carbon economy,” said Regan Smith, Manulife’s global head of real estate sustainability.

As of March 31, 2021, Manulife’s real estate portfolio totalled 63 million square feet of office, industrial, and retail space, and over 6,500 multifamily units located in markets across Canada, the US, and Asia.

Across all asset classes and services, Manulife had C$764.1 billion (US$607.6 billion) in assets under management and administration as of March 31.

back to top

Sections

About Us

Connect With Us

Resources

Webinar: In-person and Remote Banking –
Why this Hybrid Model is the Future of the Branch

Banks combine the brick and mortar
physical banking experience with virtual banking

Time/Date: August 5th, 2021 2:00 P.M. ET

As consumers increasingly prefer to engage with their bank remotely instead of going to a branch location, institutions are looking to modernize the ways in which they interact with customers. Depending on the complexity of the banking activity, some consumers will use self-service digital channels while others will turn to channels where they can get human help. In a hybrid banking model, banks combine the brick and mortar physical banking experience with virtual banking.

In this webinar, OneSpan and guest speaker Alyson Clarke, Principal Analyst at Forrester Research, will discuss why hybrid banking will become mainstream and the importance of putting the right tools in place to support remote account opening, account maintenance, wealth management, and lending.

REGISTER NOW!

This webinar is brought to you by:
OneSpan Logo