Manulife Releases 2024 Sustainability Report and Public Accountability Statement

Rhea-AI Summary

Manulife (MFC) has released its 2024 Sustainability Report and Public Accountability Statement, highlighting several key initiatives. The company launched a US$480 million Forest Climate Fund and partnered with Uplink to support longevity innovation through annual challenges, offering $50,000 to each of ten winning startups. Notable partnerships include collaborations with MIT AgeLab for longevity research, CAMH for women's mental health research, and Mind HK for mental health awareness.

The company expanded its financial literacy programs, including the Smart$ense campaign in the US, and established Responsible AI Principles to ensure ethical AI development. Serving over 36 million customers globally, Manulife focuses on three main areas: empowering health and wellbeing, driving inclusive economic opportunity, and accelerating a sustainable future.

Positive

• Launched US$480 million Forest Climate Fund LP, demonstrating leadership in sustainable forestry investment
• Established strategic partnerships with prestigious institutions (MIT AgeLab, CAMH, Mind HK) for research and development
• Expanded financial literacy programs internationally
• Implemented Responsible AI Principles for ethical technology development

Negative

• None.

Report shares firm's continued progress toward generating long-term value for its business, customers, communities, and shareholders

C$ unless otherwise stated                                                                TSX/NYSE/PSE: MFC     SEHK: 945

TORONTO, May 7, 2025 /PRNewswire/ - Manulife today released its 2024 Sustainability Report and its 2024 Public Accountability Statement, detailing its approach, performance, and achievements relative to its sustainability strategy. 

Highlights from the firm's 2024 Sustainability Report that support Manulife's Impact Agenda to empower sustained health and wellbeing, drive inclusive economic opportunity, and accelerate a sustainable future include the followingⁱ: 

• Announced a three-year partnership with Uplink, the World Economic Forum's open innovation platform, to help shape the future of, and investment in, longevity innovation, through annual Manulife-powered Global Longevity Innovation challenges. The ten winners of Manulife's first 'Prospering in Longevity'  challenge in 2024 were announced in October, with each startup receiving $50,000 in prize money from Manulife. The 'Innovating for Asia's Demographic Future' challenge was launched in 2025, aimed at sourcing and scaling solutions that are enabling long-term financial resilience, well-being, and fulfillment across multi-stage lives in Asia. Winners will be announced in Fall 2025.
  
  
• Closed the Manulife Forest Climate Fund LP, totaling commitments of US$480 million, demonstrating leadership in creating innovative forestry investment solutions in its private market asset classes. 
  
  
• Began a five-year collaboration with MIT AgeLab to develop longevity-related research and thought leadership. The research will provide data-driven insights to maximize longevity preparedness for consumers.
  
  
• Entered into a partnership with the Centre for Addiction and Mental Health (CAMH) to help fund mental health research for women in Canada and around the world through their womenmind™ program. In collaboration with CAMH and Cleveland Clinic Canada, Manulife's Group Benefits business released a report highlighting the critical health challenges affecting women in the workplace.

• Rolled out the Smart$ense Financial Literacy for Kids Campaign in the United States, inspired by its award-winning Peso Smart program started in the Philippines, designed to help children build their financial knowledge. This campaign won the Community Investment – Leadership Award at the 2024 Investment Management Education Alliance Star Awards.

• Launched a partnership with Mind HK in Hong Kong to influence the development of support services and raise public awareness of the importance of mental health in the region. Throughout the year, several public events were hosted where expert speakers joined Manulife and Mind HK to discuss a wide range of mental health topics to increase public awareness and understanding.
  
  
• Released our Responsible AI Principles to guide how solutions are designed, developed, and deployed, reinforcing trust and transparency in AI applications. Manulife's commitment to responsible AI ensures that innovations align with ethical, safety, and sustainability standards. 

"As a global life insurer, asset manager, and retirement plan provider, Manulife is uniquely placed to unlock opportunities that help people live better for longer," said Sarah Chapman, Manulife's Chief Sustainability Officer. "We're helping to drive positive outcomes in communities across our global footprint and for our more than 36 million customers by incentivizing and rewarding behavioural change, providing access to education, resources, and technology, and increasing opportunities to access nature and nutrition that underpin well-being. I'm proud of our progress and the impact Manulife made this year, and I look forward to what Manulife will accomplish in 2025 as we continue to deliver on our mission – Decisions made easier. Lives made better."    

Please visit manulife.com/sustainability to access the reports and learn more about the firm's Impact Agenda. 

About Manulife 

Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges, and under '945' in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

Media Contact

Gina Simonis
Manulife
+1-617-840-4794
GSimonis@manulife.com 

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i Please see our Sustainability Report for further details about our performance metrics, including the methodology for calculating and defining green investments.

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SOURCE Manulife Financial Corporation

FAQ

What major initiatives did Manulife (MFC) announce in its 2024 Sustainability Report?

Manulife announced several major initiatives including a US$480 million Forest Climate Fund, partnerships with MIT AgeLab for longevity research, CAMH for women's mental health research, and the launch of Responsible AI Principles.

How much is Manulife (MFC) investing in its Forest Climate Fund LP?

Manulife's Forest Climate Fund LP closed with total commitments of US$480 million.

What is Manulife's partnership with Uplink about?

Manulife partnered with Uplink, World Economic Forum's innovation platform, for a three-year program supporting longevity innovation through annual challenges, with ten winning startups receiving $50,000 each.

How many customers does Manulife serve globally in 2024?

Manulife serves more than 36 million customers globally.

What are the main focus areas of Manulife's Impact Agenda?

Manulife's Impact Agenda focuses on three main areas: empowering sustained health and wellbeing, driving inclusive economic opportunity, and accelerating a sustainable future.