The initiative targets sites affected by natural disasters, such as the Nicola Watershed in British Columbia, which suffered extensive wildfire damage, and California following the 2013 Rim Fire.
Manulife is deploying veritree’s Smart Forest technology, which integrates satellite imagery, ground-level data, and bioacoustic monitoring to track forest health and restoration progress. Data from Manulife's Impact Forests will be uploaded within Manulife's veritree impact platform, enabling real-time monitoring of Smart Forests.
More than 185,000 trees have been planted to date across sites in Canada, the US, Cambodia, Japan, and the Philippines, restoring more than 160 hectares of land. Monitoring outcomes include not only environmental metrics but also community impacts, such as job creation and education programs, which can influence social risk assessments in insurance underwriting.
"Manulife is proud to announce the Manulife Impact Forests and to collaborate with veritree in deploying their groundbreaking Smart Forest Design technology around the world," said Ariel Kangasniemi, global chief sustainability officer at Manulife. "As a business that is driven to help people live better, for longer, we believe that when nature does well, people do well. This collaboration exemplifies how innovation, accountability, and environmental stewardship can come together for the benefit of both."
Wildfires, extreme weather and climate-related events pose growing risks to property and asset portfolios. By restoring degraded forests and implementing sustainable land management practices, initiatives like Impact Forests could mitigate environmental risks that could have downstream effects on insurance claims and underwriting outcomes.
