Canada Life is rolling out a suite of segregated funds, which makes it easier for policyholders to invest in companies with strong environmental, social, and governance (ESG) practices.

The sustainable target date funds are available through the insurance giant’s group variable annuity policy and are sub-advised by financial services behemoth J.P. Morgan.

“We recognize that our members are looking to invest in a way that aligns with their values, without sacrificing returns,” said Brad Fedorchuk, executive vice-president of group customer at Canada Life. “These funds capitalize on the demand for target date funds that are simple, yet sophisticated, while giving plan sponsors and members sustainable investing options to help members meet their retirement savings goals.”

Fedorchuk added that this was one way of affirming its commitment to responsible investing, while helping Canadians meet their financial planning needs.

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In a statement, Canada Life said that any amount allocated to a segregated fund would be invested at the risk of the customer, with the value increasing or decreasing depending on a company’s performance.