Achievements and 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.

2017-2018 Achievements
  • Reviewed and updated our Code of Business Conduct and Ethics to provide greater clarity on our commitment to diversity, human rights and privacy.

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

  • No violations related to corruption and bribery were identified.

  • Compiled consolidated governance and environmental data and prepared a comprehensive CSR data table that was added to this site.

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

  • Published our third Communication on Progress, again reporting at an “Advanced Level”. 

  • Continued to report and engage with CSR rating organizations.

  • Maintained 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.

2018 Commitments
  • Continue to report and engage with a number of CSR rating organizations.

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

  • Continue to share knowledge on CSR initiatives through regular group company meetings and implement working team meetings in between group committee meetings to ensure progress on the different fronts.

INVESTMENTS

Priorities

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

2017 Achievement
  • Continued to engage with our group companies and investments on environmental, social and governance (ESG) issues through our active ownership approach.

2018 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.

2017 Achievement
  • Engaged with our main subsidiaries on available employee-related data and assess options to present consolidated information.

2018 Commitment
  • Continue to work towards formalizing employee-related data compilation process across Power main subsidiaries with a view to create a data table specifically on employee-related data.

ENVIRONMENT

Priorities

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

2017-2018 Achievements
  • Exceeded our target to reduce our consumption of natural gas and electricity at our head office properties by 8 per cent by 2020, using 2011 as a baseline1.

  • Decreased our consumption of natural gas and electricity at our head office properties by 20.6 per cent, using 2011 as a baseline.

  • Responded to the CDP questionnaire for the seventh year, again using a financial control approach and rolling up data from Power Financial, Great-West Lifeco and IGM Financial. We obtained a CDP score of A- (Leadership) in 2017. Among the 2017 CDP respondents in the financial services sector, four of the six top ranked Canadian companies were members of the Power group.

  • Our GHG emissions reported and referenced in our 2017 and 2018 CDP submissions were externally verified.

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

  • Continued to work towards achieving  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. 

2018 Commitments
  • Reduce our consumption of natural gas and electricity at our head office properties by 8 per cent 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.

2017-2018 Achievements
  • Power Corporation and its group companies employed over 30,000 individuals and paid out $7.5 billion in salaries and other benefits, and commissions, as well as $4.7 billion in payments to suppliers and various levels of government. In addition, $2.0 billion of dividends were paid to shareholders and $48 million of charitable contributions were made in the communities in which we operate, supporting 2,000 community organizations in Canada alone. 

  • Launched a video featuring four community-based organizations illustrating the vast array of causes supported by companies in our group. 

2018 Commitment
  • Continue to explore potential measures to better quantify Power Corporation’s and its group of companies’ economic value added.

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