Performance and Future Commitments

We measure and monitor the progress of our strategic initiatives against internal objectives. We are committed to continuously improving our performance.

GOVERNANCE

Priorities

Ensure highest ethical standards are maintained at the Power Corporation level, at our group companies, through our active ownership approach, and at our third parties, through our Third Party Code of Conduct.

2016-2017 Achievements
  • All employees acknowledged compliance with the Code of Business Conduct and Ethics and no breaches were reported.

  • Implemented our Third Party Code of Conduct with our key suppliers and business partners. To date, the vast majority of them have attested their compliance to the requirements of our Code. 

  • Launched a new web-based training platform (early 2017).

  • Published our second Communication on Progress, strengthening our reporting to an “Advanced Level”. 

  • Continued to report and engage with CSR rating organizations.

  • Gained listing status on the FTSE4Good Global Index.

  • Continued to meet regularly with our group companies to align our commitments and to share knowledge on CSR initiatives.

  • No violations related to corruption and bribery were identified.

  • Furthered our commitment to anti-corruption by covering this aspect in our Third Party Code of Conduct.

2017 Commitments
  • Continue to report and engage with a number of CSR rating organizations.

  • Pursue the deployment of our Third Party Code of Conduct.

  • Continue to share knowledge on CSR initiatives through regular group company meetings.

INVESTMENTS

Priorities

Invest in quality companies with sustainable franchises and attractive growth prospects that demonstrate they are managed in a responsible manner.

2016 Achievement
  • Continued to engage with our group companies and investments on environmental, social and governance (ESG) issues through our active ownership approach.

2017 Commitments
  • Continue to integrate ESG considerations into decision-making through our active ownership approach.

  • Continue to share knowledge with our group companies and investments on integrating ESG factors into their respective investment analysis process.

EMPLOYEES

Priorities

Develop people and manage talent, support a diverse and inclusive workforce, and promote health and well-being.

2016-2017 Achievement
  • Launched a new web-based training platform (early 2017).

2017 Commitment
  • Compile and communicate information on people related metrics across Power’s group of companies.

Environment

Priorities

Reduce our environmental footprint, adapt our business to a changing climate and support responsible procurement.

2016 Achievements
  • Established a new target to reduce our consumption of natural gas and electricity at our head office properties by 8% by 2020, using 2011 as a baseline1.

  • Decreased our consumption of natural gas and electricity at our head office properties by 12.6%, using 2011 as a baseline.

  • Responded to the CDP questionnaire for the fifth year, using for the first time a financial control approach and rolling up data from Power Financial, Great-West Lifeco and IGM Financial. We obtained a CDP score of B (Management) in 2016.

  • Our 2016 GHG emissions, reported and referenced in our 2017 CDP submission, were externally verified.

  • Maintained green building certification though BOMA BEST® at our corporate head office.

  • Undertook the process to achieve Leadership in Energy and Environmental Design (LEED®) certification (EB 2009) of our corporate head office buildings.

  • Helped finance sustainable and renewable energy projects through our subsidiary Power Energy Corporation. 

  • Engaged with suppliers to procure sustainable products and services.

  • No environmental incidents were reported. 

2017 Commitments
  • Reduce our consumption of natural gas and electricity at our head office properties by 8% by 2020, using 2011 as a baseline1.

  • Continue growing our renewable and sustainable energy investments.

1. Given our limited environmental footprint, going forward, we will be focusing our efforts on electricity and natural gas consumption at our head office properties, rather than on GHG emissions from these sources.

Society

Priorities

Make a positive contribution to society, improve financial well-being and increase participation in employee community programs.

2016 Achievement
  • In 2016, Power Corporation and its group companies employed over 30,000 individuals and contributed $4.1 billion in employee salaries and benefits. 

2017 Commitment
  • Continue to explore potential measures to better quantify Power Corporation’s and its group of companies’ economic value added.

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