Sustainalytics, which provides high-quality, analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies, has released its first annual review of the Pacific Life Sustainable Bond Framework and $800 million ESG bond issuance from April 2021.

Findings from the report include:

• All proceeds of the $800M ESG bond issuance from April 2021 have been invested;
• All projects reviewed complied with the use of proceeds and KPI criteria;
• Use of proceeds allocation consists of 41 percent renewable energy, 51 percent green building and 8 percent affordable housing

“We strive to generate sustainable, long-term investment returns in a balanced, responsible manner,” said Pacific Life President and Chief Executive Officer Darryl Button. “With this in mind, we acknowledge the evolving materiality of ESG factors and are increasingly integrating them into our investment decision making. Investing responsibly ties to Pacific Life’s Core Values of accountability for our actions, integrity to do the right thing, and making a positive impact on our community.”

“This review is an affirmation of the commitment we made to investors while marketing the sustainability bond offering in April 2021,” said Joe Krum, vice president and managing director, Institutional Capital Markets Group at Pacific Life. “We are even more excited today about the future of this program and its ability to drive investments in support of the objectives outlined in our Sustainable Bond Framework. As a team, we are looking ahead and actively pursuing new ESG-related opportunities across global markets.”

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One of Pacific Life’s goals is a continued focus and commitment to the principles of ESG and impact investing. In April 2021, Pacific Life introduced a Sustainable Bond Framework. Two weeks after introducing the Framework, the Capital Markets Group announced the issuance of an $800 million sustainability bond, the largest FA-backed sustainable bond issuance in financial industry history.

To read the Sustainalytics report, visit https://www.pacificlife.com/home/investor-relations/sustainable-bonds.html.

Source: Pacific Life