The carbon footprint of our investment portfolios

Our invested assets are a significant lever that we can use to catalyze climate action for a net zero future. Our goal is for our investment portfolio to be net zero by no later than 2050. Along the way, we will disclose our progress toward this goal at least annually and set new interim targets every five years. For example, by year-end 2025, we aim to reduce the financed emissions intensity of our listed equities and corporate bond portfolios by 25% from 2020 levels, increasing to a 40% reduction by year-end 2029.

In addition, our asset manager, Addenda Capital, has set a target that 75% of its assets under management will be net zero aligned by 2030, meaning they will be managed to be on track for attaining net zero by 2050. Since 2021, Co-operators and Addenda have been members of the Net Zero Asset Owner Alliance (NZAOA) and Net Zero Asset Manager (NZAM) Initiative respectively (NZAM was paused in January 2025). These connect our organizations with like-minded peers that are developing best practices and ways to reach these ambitious goals.

Financed emissions intensity of Co-operators public equity and publicly-traded bond portfolios

Units: tonnes of carbon dioxide equivalent per $1 million invested

Download the 2024 Climate Report for more information.

Our 2024 performance

In 2024, Co-operators’ public equity and publicly traded bond investments had a financed emission intensity of 39.9 tonnes of carbon dioxide equivalent per million dollars invested. Our financed emissions intensity has decreased 10.9% since our updated target base year of 2020 (during the COVID-19 pandemic), and our emissions intensity decreased 31.8% from 2019 (Co-operators original base year for targets). In 2023, we updated our base year from 2019 to 2020, which has had a significant impact on the relative performance against our targets due to the economic and environmental impacts of the COVID-19 pandemic. Download the 2024 Climate Report for more information.