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.
At Power Corporation, we seek investments in companies that have sustainable business models with the potential over time to provide long-term value. Our group companies have a long and proud history of being responsible employers, treating their employees fairly and providing them opportunities for advancement. They consistently demonstrate integrity and high ethical standards. They also understand the need to protect the environment, as well as to contribute to economic prosperity, social well-being and quality of life in the communities where they operate.
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).
We welcomed the launch of the United Nations 17 Sustainable Development Goals (SDGs) in 2015. Inspired by both the SDGs and the UNGC principles, in this website we have endeavoured to present tangible examples of the contribution our group of companies is making to advance social and economic progress. Aligning our core business strategy to the SDGs remains a focus area for our group.
Power Corporation continues to strengthen its commitment to responsible management through various initiatives, including our engagement with our different stakeholders, as well as with CSR rating organizations.
Over the course of 2016, we:
1. Deployed our Third Party Code of Conduct with our key suppliers, consultants and business partners;
2. Responded to the CDP for a fifth consecutive year, receiving a score of B;
3. Published our second Communication on Progress as part of our UNGC commitment, strengthening our reporting to an “Advanced Level” providing information on our management policies and procedures and on the alignment of our programs to the United Nations’ Sustainable Development Goals;
4. Gained listing status on the FTSE4Good Global Index at the end of 2016.
In addition, in early 2017, we launched a new web-based training platform to enable employee on-line training and facilitate the process for annual certifications to our Code of Business Conduct and Ethics.
Our CSR efforts are kept up-to-date on our CSR-dedicated microsite, which is a means of publicly documenting and disclosing our responsible management commitments, programs and performance. We continued to enhance our disclosure by making many of our corporate policies public. Throughout this website, you will see examples of how responsible management allows us to generate long-term value and sustainable growth.
We believe that strong communities are the underpinning of a successful, responsible business. For Power Corporation, the bond between community and business is symbiotic and mutually advantageous; one cannot exist effectively without the other. We are driven to strengthen that relationship through our responsible management approach to the benefit of all of our stakeholders.