Manulife Pledges Net Zero Carbon Emission Portfolio by 2050

Manulife Financial Corp., the Canadian insurance and investment giant, is aiming toward an investment portfolio with net-zero carbon emissions by 2050, the company announced Thursday.

Manulife, which controls $1 trillion in assets, said it will divest from some high-emission companies and work with others in its portfolio to drive down emissions.

“A blanket divestment policy to avoid companies due to their exposure to fossil fuels isn’t the only approach, nor is it as effective as it sounds,” said Sarah Chapman, Manulife’s global chief sustainability officer. “We have an important role in engaging ...