Climate Adaptation

One of the greatest and most pressing sustainability issues of our time is climate change, a phenomenon that has already had, and will continue to have, a significant impact on ecosystems, economies and communities around the world. 

As a diversified international management and holding company, we understand and believe that businesses hold a responsibility to the communities in which they operate, towards fellow citizens and the natural environment. We are an investor, employer, and contributor to the communities where we are established. As such, we recognize our responsibility to help create a future where prosperity is harmonized with addressing the critical challenges of climate change. 

We are deeply conscious of the fact that we do not operate in a vacuum. Thriving businesses depend on a thriving, sustainable society. Growing our business profitably in a way that supports a low-carbon economy will continue being an important matter for the Corporation and our stakeholders.

Our Strategy

Our strategy for adapting to climate change is focused on positioning our business positively within the context of a low-carbon economy and supporting policies that advance solutions that address the tangible impacts of climate change.

Climate Advocacy and Outreach

In line with our contributions to community projects and initiatives that increase awareness and knowledge on climate change impacts and management, Power Corporation supports various organizations that are focused on issues related to climate change. The following provides examples of the research organizations we support:

Nature Conservancy of Canada – Power Corporation has been supporting Nature Conservancy of Canada since 2005. Nature Conservancy of Canada is a leading national land conservation organization that partners with individuals, corporations, other non-profit organizations and governments to protect the natural areas that sustain Canada’s plants and wildlife, including through their conservation research efforts.

Earth Rangers – Power Corporation provides funding for Earth Rangers, covering the three-year period from 2018 to 2020. Earth Rangers is a kids’ conservation organization whose free programs aim to instill environmental knowledge, positivity and the confidence to take action. Earth Rangers also works with a variety of national, regional and local conservation organizations to develop projects to protect endangered animals, ranging from conservation research, to land acquisition and habitat stewardship.

David Suzuki Foundation – Power Corporation provided funding for the Foundation covering a nine-year period from 2007 to 2015, and has renewed its commitment for 2019-2020. The David Suzuki Foundation works with government, business and individuals to conserve the environment by providing science-based education, advocacy and policy work, and acting as a catalyst for social change.

The support we provide to these foundations is in line with our strategy to contribute to community projects and initiatives that increase awareness and knowledge on climate change impacts and management.

Carbon Disclosure

We have been responding to the CDP Climate Change Program for the past eight years and support the organization’s endeavours to increase transparency and disclosure on climate change governance, risks and opportunities, management and performance. In 2019, Power Corporation obtained a score of A- (Leadership).

Our wholly owned subsidiary Power Financial, as well as our group companies Great-West Lifeco and IGM Financial, have responded to the CDP’s 2019 climate change questionnaire.

Our Objectives
Steps Taken to Achieve our Objectives

Explore Sustainable and Renewable Energy

Established a wholly owned subsidiary, Power Energy Corporation, which invests in the clean-energy and energy-efficiency sectors.

Minimize Investment Risks

Continue to integrate economic, environmental and social factors into our investment process and active ownership approach, which includes climate change risks and opportunities, where relevant.

Invest in Sustainable Businesses

Companies in which we invest are adapting to the impacts of climate change on their businesses through products, services, markets and operations. We engage with our major subsidiaries through a group-wide CSR committee on a range of corporate social responsibility initiatives, including GHG emission reduction and climate change related risks, opportunities and management strategies.

Support Policies

We support collaborative policies and frameworks that advance growth within a low-carbon economy, including through our Chairman and Co-CEO’s involvement in the International Economic Forum of the Americas and the Brookings International Advisory Council. These organizations respectively put forward efforts to increase awareness and collaboration between international governments on a wide range of issues, including climate change and efforts to develop effective, pragmatic policies for addressing national and global issues including energy and environmental issues.

Climate Advocacy and Outreach

In line with our contributions to community projects and initiatives that increase awareness and knowledge on climate change impacts and management, Power Corporation supports various organizations that are focused on issues related to climate change. The following provides examples of the research organizations we support:

Nature Conservancy of Canada – Power Corporation has been supporting Nature Conservancy of Canada since 2005. Nature Conservancy of Canada is a leading national land conservation organization that partners with individuals, corporations, other non-profit organizations and governments to protect the natural areas that sustain Canada’s plants and wildlife, including through their conservation research efforts.

Earth Rangers – Power Corporation provides funding for Earth Rangers, covering the three-year period from 2018 to 2020. Earth Rangers is a kids’ conservation organization whose free programs aim to instill environmental knowledge, positivity and the confidence to take action. Earth Rangers also works with a variety of national, regional and local conservation organizations to develop projects to protect endangered animals, ranging from conservation research, to land acquisition and habitat stewardship.

David Suzuki Foundation – Power Corporation provided funding for the Foundation covering a nine-year period from 2007 to 2015, and has renewed its commitment for 2019-2020. The David Suzuki Foundation works with government, business and individuals to conserve the environment by providing science-based education, advocacy and policy work, and acting as a catalyst for social change.

The support we provide to these foundations is in line with our strategy to contribute to community projects and initiatives that increase awareness and knowledge on climate change impacts and management.

Carbon Disclosure

We have been responding to the CDP Climate Change Program for the past eight years and support the organization’s endeavours to increase transparency and disclosure on climate change governance, risks and opportunities, management and performance. In 2019, Power Corporation obtained a score of A- (Leadership).

Our wholly owned subsidiary Power Financial, as well as our group companies Great-West Lifeco and IGM Financial, have responded to the CDP’s 2019 climate change questionnaire.

Highlights from our Group Companies

As part of our strategy, we also invest in sustainable companies whose products and services contribute to a low-carbon economy and societal well-being.

In addition to supporting organizations that are focused on issues related to climate change, our major publicly traded subsidiaries encourage their staff to get involved with environmental causes they support and hold dear to their hearts. Great-West Lifeco examples include the International Institute for Sustainable Development and the Prairie Climate Centre, which facilitates cutting-edge climate research and policy recommendations, helping governments, businesses and community members understand the impacts of climate change and respond effectively. IGM Financial examples include the Manitoba Race to Reduce and the Winnipeg Commuter Challenge.

SUSTAINABLE AND RENEWABLE ENERGY

We invest in the sustainable and renewable energy sector through our wholly owned subsidiary Power Energy, which actively manages investments in the sustainable and renewable energy sector with the goal of building and owning, over the long term, companies that can generate growing and stable cash flows. Power Energy invests in companies that benefit from the global energy transformation and has invested in companies that develop, own and operate solar, hydro and wind generating assets in North America as well as in leading manufacturers of sustainable technologies.

Power Energy currently holds investments in four companies: 

  • Potentia Renewables – a renewable energy generation company, active in the solar and wind sector in North America and the Caribbean

  • Nautilus Solar Energy, a leading U.S. solar developer and asset manager focused on distributed and utility-scaled generation solar projects 

  • Lumenpulse – a leading manufacturer of high-performance, specification-grade LED lighting solutions

  • Lion Electric – a manufacturer of zero-emission vehicles sold throughout North America

CLIMATE SOLUTIONS

Imerys is committed not only to the management of emissions related to its operations but also to innovation of solutions at the service of a low-carbon economy, and as such supports customers in this transition. To this effect, Imerys is conducting studies of its products portfolio to determine their carbon footprint. These studies serve a dual purpose of providing complete and transparent information to customers and giving the group an improved visibility over the impacts linked to specific products or facilities, which is a precursor to initiating any eco-design approach. In 2018, Imerys calculated approximately 20 product carbon footprints, from cradle to gate. These study results were shared with customers to help encourage downstream efforts to calculate product impacts and differentiate Imerys products from other competitors’ higher carbon solutions.

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