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iA Financial Group Releases its Sustainability Report

Quebec,

News Release


Highlights:

  • Commitment to becoming a carbon-neutral company as of this year
  • Incorporation of ESG factors in our investment processes
  • Increased disclosure related to climate change
  • Promotion of diversity and inclusion
  • Support for clients and communities during the pandemic

iA Financial Group announces that its Sustainability Report for 2019 is now available online at ia.ca (https://ia.ca/sustainable-development). This report, released in electronic format only, outlines the company’s environmental, social and governance initiatives and achievements for 2019.

It also describes the various measures implemented by iA Financial Group since the beginning of the COVID-19 pandemic to support its clients and the community. These include, among others, a 20% rebate on monthly auto insurance premiums for iA Auto and Home clients, as well as donations of almost two million dollars to medical research related to the COVID-19 pandemic and to social and community organizations.

“It is in these difficult times that we recognize companies that know how to strike a balance between stakeholders so that, in the long term, our society and economy remain healthy for everyone,” said Denis Ricard, President and CEO of iA Financial Group. “This search for balance fully reflects our values and our long-term vision of sustainable development here at iA Financial Group. We are proud of what we have accomplished and of what we are already planning for the coming years, because, more than ever, we must all acknowledge our responsibilities and take action in a positive, united way.”

Key milestones

iA Financial Group took important steps in 2019 by becoming a signatory of the United Nations Principles for Responsible Investment (PRI) and by committing to becoming a carbon-neutral company as of 2020. These two commitments come with substantial disclosure requirements. The commitment to becoming a carbon-neutral company is part of an ongoing approach to reduce the company’s environmental footprint and combat climate change. In addition, in regard to the PRI, the company is committed to integrating environmental, social and governance (ESG) factors into our investment processes.

The 2019 Sustainability Report also includes a risk analysis in regard to climate change. Studies can help to identify and prevent the impact that climate change could have on the company's business conduct over the long term. iA Financial Group will continue to analyse and report progress in this regard in the next year.

The 2019 Sustainability Report also includes iA Financial Group’s commitments to diversity and inclusion. The company has always promoted diversity and inclusion and recognizes their importance for innovation and growth. The company is moving forward with this vision by integrating it into its client and employee experience practices.

Support for clients and communities during the pandemic

From the first weeks of the COVID-19 pandemic, iA Financial Group implemented relief measures in our various lines of business to support our clients who were experiencing financial difficulties directly caused by the pandemic.

These measures included:

  • Deferral for payment of premiums for life, personal accident, critical illness or disability insurance
  • Deferral of repayments for loans in individual savings and retirement
  • Deferral of premium payments, a 60% credit on insurance premiums for dental insurance and a virtual health care service in group insurance
  • Rebate of 20% on auto insurance premiums
  • Deferral of residential mortgage payments
  • Flexible payment solutions for auto loans

To date, over 225,000 clients have taken advantage of these relief measures.

For more information about the various measures implemented, please visit our website at ia.ca (https://ia.ca/covid-19-updates).

In addition, to aid in the fight against COVID-19, iA Financial Group has donated over two million dollars for emergency funding to various hospital and medical research centres as well as to social and community organizations across the country, including food banks.

Read the communiqué