NR 09:13 AM EDT, 04/14/2022 (MT Newswires) -- Intact Financial Corporation (IFC.TO) on Thursday released its five-part climate transition plan, which sets targets for its Canadian, US and European businesses, including RSA Group, which it acquired in 2021.
The five-part transition plan includes a commitment to achieve net zero by 2050 in line with the Paris Agreement and an interim goal to halve emissions from its operations by 2030 using 2019 data as a baseline. This includes initiatives like electrifying its fleet of vehicles, increasing renewable energy use in company offices and reducing corporate travel.
IFC would also shape climate-friendly behaviour among customers by incentivizing "green behaviour, creating and scaling green products."
Collaborate with governments and industry to accelerate climate action. Intact notes that as a founding signatory of the industry-led Climate Engagement Canada, Intact Investment Management is engaging with top emitters to reduce their impact. It will also create and adapting specialty lines and commercial lines products and solutions to enable the transition of existing industries and support clean technologies.
A pillar of the transition plan also involves helping people adapt to climate change. Intact announced a new partnership with The Nature Conservancy of Canada (NCC) and will invest $8 million in a five-year partnership.