Foresters 2023 Purpose and Sustainability Impact Report
See how we’re making a difference together.
Guided by our larger purpose
At Foresters Financial™, our larger purpose has always been to enrich the well-being of families and the communities they call home. To us, sustainability and our purpose go hand-in-hand as we help more people find their financial security and empower them to do the good they want to do.
“Enriching family and community well-being is the guiding compass and foundation of Foresters sustainability approach. From that foundation, we’re helping our members feel financially secure and live well, empowering people to give back in their own ways and doing our part to reduce Foresters carbon footprint."
Matt Berman,
President and Chief Executive Officer
“Sustainability is not just a trend for us; it’s a core responsibility. As we mark this milestone anniversary, we’re more excited than ever about the future. Our commitment to making the world a better place remains as strong today as it was 150 years ago when we began this journey.”
Caroline Rendall,
Chief Risk Officer and Executive Sustainability Sponsor
United Nations Sustainable Development Goals
We prioritize three of the 17 United Nations Sustainable Development Goals that best suit our purpose of enriching the well-being of our members, their families and communities – Goal 3: Good health and well-being, Goal 11: Sustainable cities and communities and Goal 13: Climate action.
Our approach to sustainability
Our sustainability framework is our roadmap to building a better future together:
At Foresters
We are improving our day-today business operations’ environmental and social impact and ensuring good governance.
Our members, employees and distributors
We are helping our members to enhance their well-being, our employees to belong, learn, and thrive, and our distributors to succeed.
Families and communities
Together, we are enriching the well-being of families and communities.
Society
We’re making a difference in society through our actions, helping to shape a better future for everyone.
Looking back at 2023 and forward to our goals in 2024
2023 highlights
From meaningful investments that help our members live well and do more good to reducing our carbon footprint and empowering employees to give back, we accomplished a lot in 2023.
2024 targets
This year, our plan is to continue investing in our members to support their communities, while also inspiring more employees to help causes that are meaningful to them.
CA $10 million+
Invested in member benefits1, excluding community sponsorships and donations.2
CA $10 million+
Invested in member benefits, excluding community sponsorships and donations.
CA $3 million+
Invested, from the total CA $10 million+, in Community Volunteer and Foresters Care™ grants.
CA $3 million+
Invested in communities through Community Volunteer and Foresters Care grants.
8.7%
Invested in green, social or sustainable bonds (with our North American core managers), surpassing our 7.5% target for the year. 3
Exceed
7.5%+
Invested in green, social or sustainable bonds (with our North American core managers).
25%
Of Foresters employees who volunteered.
75%
Of Foresters employees volunteering.
23%
Reduction in carbon emissions from our own fuel and electricity use.4
“Sustainability goes hand-in-hand with our purpose of enriching the well-being of our members, their families and communities. From our products to our offices, members, employees and everything in between, we are working to embed our sustainability approach in everything we do. I am incredibly proud to share the measurable progress our organization is making.”
Clare Jenkinson
Head of Sustainability
421355 CAN (08/24)
- Foresters member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice or are no longer available. Some of these benefits may be administered by third parties, such as Foresters Go which is operated by Dacadoo AG. For further details, go to foresters.com.
- A CA $10 million investment was made in member benefits, including scholarships, Foresters Renew, LawAssure, lifelong learning, Foresters Go, member deals, critical illness coverage, terminal illness coverage, orphan benefits, senior member benefits, community volunteer grants, Foresters Moments, Foresters Care, branch matching, and member engagement. However, this investment does not include community sponsorships and donations.
- Green, social or sustainable bonds held in Foresters asset portfolios have been represented by their respective issuers in public securities filings to be in alignment with green or sustainable principles established by the International Capital Market Association. For more information, please visit https://www.icmagroup.org/sustainable-finance.
- Calculated internally using utility bill data and company car mileage. In cases of shared occupancy in a building, total emissions have been proportioned accordingly. Where data is unavailable, estimates have been utilized, based on past results. Figure is rounded to the nearest whole number.