Pacific Life Enhances Sustainable Financing Framework Creating Additional Environmental, Social, and Governance (ESG) Investment Opportunities
NEWPORT BEACH, Calif. – October 10, 2023 – Pacific Life announced today an update to its Sustainable Financing Framework, offering additional institutional sustainable investment options, and further expanding opportunities for environmental and social engagement.
“Pacific Life is committed to making a positive impact on our environment,” said Darryl Button, president and CEO of Pacific Life. “We have a long history of delivering financial strength and stability to our stakeholders, underscored by our corporate social responsibility initiatives which create lasting impact for our people, our communities, our customers, and our environment.”
Introduced in April 2021, Pacific Life’s Sustainable Financing Framework issues sustainability bonds and financing through the Global Institutional Investments Group of its Institutional business. The framework’s first issuance came shortly after its launch with an $800 million sustainability bond, a record sum at the time.
“Establishing this Sustainable Financing Framework provides an opportunity to expand the breadth and depth of our sustainable activities by financing existing and future investments that help make a positive environmental and social difference to the world around us,” said Joe Krum, senior vice president, Global Institutional Investments Group, Pacific Life.
Pacific Life’s sustainability financing is offered predominantly in the form of funding agreement-backed notes. As provided in the framework, an amount equal to the net proceeds from the sustainability financing is allocated to fund green and social investments, including conservation, renewable energy, and community-building initiatives such as affordable housing and education for target populations.
For more information about Pacific Life’s Sustainable Financing Framework, please visit our webpage.
About Pacific Life
Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workplace benefits, and reinsurance markets achieve financial security. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative life insurance and annuity solutions, as well as mutual funds, that provide value and financial security for current and future generations. Supporting our policyholders for more than 150 years, Pacific Life is a Fortune 500 company headquartered in Newport Beach, California.
For additional company information, including current financial strength ratings, visit www.PacificLife.com.
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Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products can be issued in all states, except New York, by Pacific Life Insurance Company or Pacific Life & Annuity Company. In New York, insurance products are only issued by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.