New investment target complements Co‑operators existing impact investing and net-zero targets and highlights its continued leadership on climate action
GUELPH, ON, Sept. 23, 2025 /CNW/ - Co-operators, a Canadian insurer and financial services co-operative, announced today updated climate investing targets, including a goal to increase its climate solutions* investments from a US$2 billion baseline in 2024 - representing 21% of the company's investment portfolio to US$3 billion by 2030. These heightened targets demonstrate Co‑operators commitment to decarbonize the economy, accelerate climate adaptation and navigate the challenging impacts of climate risks.
"We have the opportunity, and the responsibility, to invest in ways that support a more sustainable future for Canadians, and our communities," says Rob Wesseling, President and CEO of Co-operators. "Our new climate solutions target, alongside our broader sustainability goals, reflect our deliberate commitment to fostering resilience, advancing the low-carbon transition and building financial security for generations to come."
"Climate-related risks like wildfires and flooding have continued to rise dramatically, increasing economic impacts across Canada. These negative trendlines create an urgent call to action, and climate investment is a powerful way for the business community to respond," says Chad Park, VP Sustainability & Citizenship at Co-operators. "We're proud to ally with an international community of climate-concerned investors mobilizing their capital to help enable solutions."
To ensure that this increased investment meaningfully and measurably supports sustainability efforts and decarbonization goals, Co-operators is adopting an updated investment framework co-developed with Addenda Capital, an asset management company and subsidiary of Co-operators.
"Our new framework, drawing upon global best practices, is designed to enable institutional investors and asset owners to grow their capital while investing in ways that align with a transition to a net-zero economy and to finance solutions to the immense challenge of climate change," says Roger Beauchemin, CEO of Addenda Capital. "We're proud to support Co-operators in achieving their ambitious climate and impact investment targets – and we encourage other to follow suit and join us in catalyzing a more sustainable market."
Co-operators 2030 Sustainability and Impact Investment Goals
In addition to its existing commitments to achieve net zero operations by 2040 and net zero investments by 2050, Co-operators has four interim 2030 portfolio climate and impact goals:
1. Climate solutions:
Goal: To increase investments allocated to climate solutions from the 2024 baseline of US$2 billion to US$3 billion by year-end 2030.
Progress to-date: At the end of 2024, Co-operators had invested US$2 billion into climate solutions. This amount represents 21% of the company's investment portfolio, and over 76% of its impact investment portfolio. Financing was provided to projects focused on energy efficiency, clean transportation and renewable energy, generating 51.2 million MWh of renewable energy - enough to provide electricity to over 4.4 million homes for one year
2. Impact and climate:
Goal: To reach 50% of its assets under management in impact or climate transition investments by year-end 2026, and 60% by 2030.
Progress to-date: Surpassing its interim goal, Co-operators has successfully invested 52.6% of its total portfolio (C$7.35 billion) in impact or climate transition investments at year-end 2024.
3. Hard to abate sectors:
Goal: To completely phase out unabated thermal coal (coal burned without carbon-capture to reduce or prevent greenhouse gas emissions) across its entire investment portfolio by 2030.
(Progress to be reported by 2030.)
4. GHG emissions intensity target:
Goal: To reach a 40% reduction in financed emissions intensity (tCO2e/$M invested) of its listed equity and corporate bond portfolio by 2030 (year-end 2029) vs. year-end 2020.
Progress to date: At year end 2024, Co-operators had reduced the emissions intensity of its portfolio by 10.9% vs. 2020, and 31.8% from 2019.
*Climate solutions are defined as investments in economic activities considered to contribute to climate change mitigation (including transition enabling) and/or adaptation, in alignment with existing climate related-sustainability taxonomies and other generally acknowledged climate related frameworks, as defined by the Net Zero Asset Owner Alliance Target-Setting Protocol Fourth Edition. Co-operators was the first Canadian insurer to join the NZAOA. The Alliance includes over 80 asset owners from across the globe that have committed to transitioning their investment portfolios to net-zero by 2050.
More information on Co-operators climate-related targets and progress is available at cooperators.ca/integratedreport and in its climate report at cooperators.ca/reports.
ABOUT CO-OPERATORS
Proudly Canadian since 1945, Co-operators is a leading financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. With more than $74 billion in assets under administration, Co-operators is well known for its community involvement and its commitment to sustainability. Currently a carbon neutral organization, Co-operators is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators is recognized as one of Canada's Top 100 Employers and ranked as one of Corporate Knights' Best 50 Corporate Citizens in Canada.
ABOUT ADDENDA
With more than $40 billion in assets under management as at March 30, 2025, Addenda Capital is recognized as a leader in sustainable investing. From climate transition to impact investing to traditional strategies, our multi-asset solutions seek to provide enhanced returns for a clientele that is both institutional and private. At one point, we significantly enriched our investment process by integrating analysis of environmental, social and governance (ESG) issues. Today, we are playing an active role in the shift toward a net-zero economy while staying true to our commitment: serving our clients and generating sustainable wealth for a better future.
For any inquiries or to request additional information, please contact [email protected]
SOURCE Co-operators Group Limited
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