Strengthening our Responsible Management Commitment
While the first responsibility of business is to be profitable and sustainable, we have long believed that business must also play a role within the broader society in which it operates. Our responsible management philosophy is fundamental to our business success, enabling us to mitigate risk, create long-term value and earn the confidence of our customers, business partners, shareholders, employees and the communities where we operate.
We seek investments in companies that have sustainable business models with the potential over time to provide long-term value. These companies must have a track record of treating their employees fairly and of providing opportunities for advancement. They must demonstrate the highest of ethical standards and integrity. And they must understand the need to protect the environment, create social well-being and quality of life, and contribute to economic prosperity.
We take an active ownership approach in the companies in which we invest to ensure that our investments continue to be managed in a manner consistent with our responsible management philosophy, including our Code of Business Conduct and Ethics, our CSR Statement and our commitment to the United Nations Global Compact (UNGC).
Over the course of 2015, Power Corporation continued to strengthen its commitment to responsible management through various initiatives, including our engagement with our different stakeholders, as well as with CSR rating organizations. We also developed a Responsible Procurement Policy Statement and a Third Party Code of Conduct, published our first Communication on Progress as part of our UNGC commitment and implemented the Board and Senior Management Diversity Policy. In addition, we responded to the CDP for a fifth consecutive year, receiving a score of B.
In 2015, we also launched this CSR-dedicated microsite as a means of publicly documenting and disclosing our responsible management commitments, programs and performance. You will see examples throughout this website of how responsible management allows us to generate long-term value and sustainable growth.
This is the essence of our responsible management approach. It is not merely the right thing to do socially; it is the right thing to do from a business perspective — something that has been proven time and again.