Four Canadian insurers make Corporate Knights' 2026 sustainability ranking

Four Canadian insurers have been named to Corporate Knights' 2026 Best 50 Corporate Citizens ranking, with Co-operators taking the top spot among insurers globally for the 17th consecutive year, placing 11th overall in Canada. Sun Life placed 14th, Manulife 39th and Desjardins 44th. The four placements give Canada's insurance sector an unusually strong showing in a ranking that assesses all Canadian corporations with at least $1 billion in annual revenues.

Now in its 25th year, the Best 50's 2026 methodology focused on three equally weighted indicators: the share of revenue from sustainable products and services, the share of investments directed toward sustainable projects, and a sustainable revenue momentum score tracking compound annual growth in sustainable revenues from 2022 to 2024. Ten new entrants joined the list this year. Among Best 50 companies, 46.3% of investments were classified as sustainable, compared with 6% among all other companies assessed. Corporate Knights CEO Toby Heaps said the Best 50 companies had recorded a compound annual growth rate in sustainable revenue of approximately 22% in recent years, describing it as "one of the most important and encouraging economic signals we've seen."

The Guelph-based co-operative reported that 60.2% of its total investment portfolio - equivalent to $8.75 billion - is directed to impact and climate transition investments, with 27.5% of total revenue attributed as sustainable under the Corporate Knights Sustainable Economy Taxonomy. Executive compensation is linked to sustainability targets. Co-operators contributed $15.3 million to community organisations during the ranking period and has committed to net-zero emissions in operations by 2040 and a net-zero aligned investment portfolio by 2050.

The co-operative's comprehensive water product - the only flood insurance in Canada available across all risk levels including storm surge - now covers over 745,000 households, farms and businesses. The Insurance Bureau of Canada estimates approximately 1.5 million high-risk Canadian households still cannot obtain affordable flood coverage, and a national flood insurance programme committed to in federal budgets in 2023 and 2024 has yet to launch, with no confirmed delivery timeline from Public Safety Canada as of June 2026.

Chad Park, VP of sustainability and citizenship, said the recognition reflected the firm's focus on embedding sustainability across its core business decisions. "By integrating sustainability principles into our core business decisions - from how we invest to the products we offer - we can better support our clients over the long term to prevent losses, build resilience, and advance the financial security of Canadians and our communities in a changing world," he said.

Sun Life placed 14th overall, continuing a long presence on the list. In January 2026, the company was recognised by Corporate Knights for the 17th consecutive year as one of the Global 100 Most Sustainable Corporations in the World, achieving the top ranking in the insurance industry globally. Sun Life manages $1.6 trillion in assets under management and administration following the formation of Sun Life Asset Management, and has committed $64.9 million to diabetes-focused programmes globally since 2012.

Manulife placed 39th overall, making the Best 50 for the sixth consecutive year.

Desjardins placed 44th. The Quebec-based financial services co-operative is working toward net-zero emissions by 2040 and has developed climate adaptation programmes including cash incentives for hail-resistant residential siding and affordable flood insurance for Canadians in high-risk locations not covered by private insurance.