In a strong show of environmental leadership, Canadian ICMIF member Beneva marked Earth Day 2025 by reaffirming its commitment to a sustainable future—and followed that announcement with the release of its 2024 Impact Report on 24 April, offering tangible evidence of its progress.
The Canadian insurance mutual used the annual Earth Day environmental milestone to publish a new impact statement outlining its ambition to be a positive force for the planet. Rooted in its mission to invest in global wellness and champion a just transition toward a greener, more inclusive and resilient world, Beneva says it is aligning its business with long-term sustainability goals.
“As a mutual, Beneva wants to protect people and their future. We also want to do our part for the environment, and we will do so by positioning the planet as a stakeholder,” said Christelle Lim-Severe, Sustainability Practice Leader at Beneva. “By working with our partners and employees, we are not only helping provide a better quality of life for our members, we are accompanying them in the adoption of more sustainable solutions.”
Bold targets and real results
Beneva is working toward achieving net-zero emissions in its operations and investments by 2040, and across all its activities by 2050. Its newly released 2024 Impact Report, published alongside its financial results on 24 April, shows the company is making meaningful strides toward these goals.
Key highlights from 2024 include:
- A 33% reduction in greenhouse gas emissions across its eight office buildings
- A 47% decrease in the carbon intensity of its general fund investments
- Over 25% of its general funds invested in sustainable assets, including green bonds, renewable energy, social infrastructure, and eco-friendly buildings
- A total of CAD 4.2 million distributed to 200 organisations and community partners
Beneva also received two Improved Energy Performance Awards from BOMA Quebec’s 2024 Building Energy Challenge, recognising enhanced energy efficiency at its Quebec City locations.
Supporting sustainable mobility and education
To promote eco-friendly transportation, Beneva has introduced a special offer for owners of electric and plug-in hybrid vehicles. Eligible drivers can choose to support one of two environmental initiatives—Earth Day Canada’s Zero Emission Grant or Nature Québec’s En mode solutions nature—with Beneva pledging up to CAD 50,000 in total contributions.
Beyond incentives, the company says it is taking steps to prepare the next generation of drivers. In partnership with Carstar Saint-Hyacinthe, Beneva launched a pilot project to equip driving schools with electric vehicles involved in collisions, giving students hands-on experience with the latest technology. The programme began in 2023 and is set to expand across Quebec later this year.
A mutual approach to a sustainable future
Created from the merger of La Capitale and SSQ Insurance, Beneva now stands as Canada’s largest mutual insurance company, serving over 3.5 million people. Its human-centred values underpin every aspect of its operations—including its commitment to sustainability.
With CAD 25.1 billion in assets and more than 5,500 employees, Beneva’s model demonstrates how purpose-driven financial institutions can play a vital role in shaping a more sustainable future.
For more on Beneva’s impact and environmental strategy, visit: beneva.ca/en/sustainable-development
Photo shows: Urban vegetable garden on top of the Beneva 2505 Laurier building in Quebec City (source: Beneva)
