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 an 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. We also invest in companies that share our philosophy and values, supporting a wide array of causes, including organizations promoting environmental stewardship.
Carbon Disclosure
2021 marked Power Corporation’s tenth year responding to the CDP climate change questionnaire. For a second consecutive year, Power Corporation was one of three Canadian companies to receive the top score of A (Leadership) for its response to the 2021 CDP questionnaire.
IGM Financial and Great-West Lifeco continued to take action on climate change. The companies obtained a score of A- (Leadership) and B (Management), respectively, for their responses to the 2021 CDP questionnaire.
Our Objectives
Steps Taken to Achieve our Objectives
Explore Renewable Energy
Established Power Sustainable, a global multi-platform alternative asset manager with a long-term investment approach focused on sustainable strategies.
Minimize Investment Risks
Continue to integrate economic, environmental, social and governance 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’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.
We are also proud of the actions of our portfolio companies, many of which have become supporters and signatories of important third-party-led initiatives such as the Principles for Responsible Investment (PRI), the Task Force on Climate-Related Financial Disclosures (TCFD) and the Climate Action 100+ initiative.
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. We also invest in companies that share our philosophy and values, supporting a wide array of causes, including organizations promoting environmental stewardship.
Carbon Disclosure
2021 marked Power Corporation’s tenth year responding to the CDP climate change questionnaire. For a second consecutive year, Power Corporation was one of three Canadian companies to receive the top score of A (Leadership) for its response to the 2021 CDP questionnaire.
IGM Financial and Great-West Lifeco continued to take action on climate change. The companies obtained a score of A- (Leadership) and B (Management), respectively, for their responses to the 2021 CDP questionnaire.