Environment

Our commitment to environmental responsibility is underpinned by the importance we place on preventing and minimizing the impact of our activities on the environment. Sound environmental practices and behaviours are entrenched in our approach to business activities; we remain committed to conducting our activities in an environmentally responsible manner by focusing on continuously improving our practices.

As a holding company, our direct environmental impact is limited to the operations of our head office, which has no production or manufacturing functions. Despite this limited impact, we work diligently to reduce our environmental footprint, while working with our group companies to support their environmental management initiatives.

Our management approach to the environment is further reinforced through our Environmental Policy, which sets out our commitment to conduct our activities in an environmentally responsible manner.

Our environmental management activities are overseen by the Vice-President, Administration and Human Resources, and the Vice-President and General Counsel.

We have focused our environmental priorities on:
REDUCING

Energy and carbon footprint

INCREASING

Use of renewable resources

PREVENTING, REDUCING AND DIVERTING

Waste from landfills

PROCURING

Products and services responsibly

2018-2019 Achievements

  • Achieved a 26 per cent reduction in energy consumption (electricity and natural gas) in 20181.
  • Reduced our emissions from building sources (electricity and natural gas only) by 57 per cent in 20181.
  • Responded to the CDP questionnaire for the eighth year, again using a financial control approach and rolling up data from Power Financial, Great-West Lifeco and IGM Financial. In 2018, both Power Corporation and Power Financial obtained a score of A (Leadership), earning a place on the CDP A List, along with 127 other companies worldwide. Among the 2018 CDP respondents in the financial services sector, four of the five top ranked Canadian companies were members of the Power group.
  • Enhanced our CDP response to include information about the first steps taken in integrating recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).
  • Our GHG emissions reported and referenced in our 2018 and 2019 CDP submissions were externally verified.
  • 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.
1. Given our limited environmental footprint, we are focussing our efforts on electricity and natural gas consumption at our head office properties, rather than on GHG emissions from these sources.

 

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