Sun Life Financial

MFS Investment, MFS Institutional Advisors
Canada, Massachusetts
Insurance

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Sun Life scored a 100 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Sun Life increases the risk of dividing employees, alienating customers and harming shareholders. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Sun Life forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Sun Life provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. Sun Life is a signatory of the BlackNorth Initiative, which calls for signatories to host unconscious bias trainings in accordance with the goals of the BLM movement. MFS, a subsidiary of Sun Life, partners with the organization White Men as Full Diversity Partners, requiring extensive unconscious bias trainings for leadership positions. Sun Life offers training to leaders on unconscious bias. The company supports the Equality Act, a controversial bill and opposed the Florida Parental Rights in Education Law, which prohibits teaching gender ideology and sexual orientation to children in K-3rd grade. Sun Life is a member of the America Competes coalition, which opposes state- and federal-level LGBTQ-related legislation. The company’s subsidiary MFS Investment is a member of the Climate Action 100+ and Ceres Network, which aim to mainstream climate- and ESG-related advocacy in the finance community. Sun Life opposed legislation in Iowa intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. The company’s former CEO, Dan Fishbein, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. Sun Life is a corporate partner of the NGLCC. The company has funded the HRC and the Transgender Law Center, which engages in legislative advocacy regarding the provision of pubertal blockers and hormones to children. For these reasons, Sun Life receives a High Risk rating.

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Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/11/23EnvironmentalThe Salal FoundationReport on Health Impacts from Investments in Fossil FuelsAgainst13.83%
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