2022-2023 Highlights and Objectives

All directors, officers and employees acknowledged compliance with the Code of Business Conduct and Ethics and the Corporation's key corporate policies in 2022.

In 2022, no breaches to the Code of Business Conduct and Ethics and no violations related to corruption and bribery were identified or reported.

Formalized the Corporation's Privacy Officer office.

Published our 2022 ESG Data Tables, which is informed by the GRI Sustainability Reporting Standards (GRI Standards), the Standards and the Sustainability Accounting Standards Board (SASB), as well as requests made by stakeholders, such as the CDP, FTSE4Good, and other ESG research organizations. 

Continued the deployment of our Third Party Code of Conduct with our key suppliers, consultants and business partners. While this is a continuous process, to date, the vast majority of them have attested their compliance to the requirements of our Code. 

As part of our commitment to the UNGC and the United Nations’ SDGs, we voluntarily participated in the UNGC’s 2022 Enhanced Communication on Progress Early Adopters Program, making this our seventh Communication on Progress.

Continued to report and engage with a number of ESG rating organizations.

Maintained listing status on the FTSE4Good Global Index in July 2023.

Maintained female representation on the Board of Directors to 29% in 2022, on track with our objective of 30% representation by 2025. 

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

Continue to enhance our ESG disclosure and engage with stakeholders regarding ESG matters. 

Pursue the continuous deployment of our Third Party Code of Conduct, including by formally reiterating the importance of this process amongst our employees.

Continue to share knowledge on sustainability initiatives through regular group company meetings to ensure progress on the different fronts.

Continued to engage with our group companies and investments on ESG matters through our active ownership approach, including having our officers sit on their boards and engage with their management teams.

Held our annual Power group conference on sustainability which focused on the future of ESG, the scope of auditing in sustainability and human capital management trends.

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

Continue to share knowledge and best practices with our group companies and investments on ESG factors.

Engaged with our main publicly traded operating companies on available employee-related data and presented consolidated information.

Conduct Power Corporation's first diversity self-identification survey.

Continue to work towards formalizing employee-related data compilation process across Power's main publicly traded operating companies with a view to enhance our ESG Data Tables with additional employee-related data.

Responded to the CDP in 2023, for a twelfth consecutive year, using a financial control approach and rolling up data from Great-West Lifeco and IGM Financial. Power received a score of A- (Leadership) from the CDP in 2022, the same score received by its publicly traded operating companies, Great-West Lifeco, IGM Financial and Groupe Bruxelles Lambert. 

Had our GHG emissions reported and referenced in our 2022 and 2023 CDP submissions externally assured.

Helped finance sustainable business models and renewable energy infrastructure assets through our alternative asset investment platforms.

Transitioned from conventional natural gas to renewable natural gas in buildings owned or managed by the Corporation's wholly owned subsidiary Square Victoria Real Estate in January 2023.

Purchased carbon credits to offset the Corporation's scope 1 and 2 emissions at the holding level.

Launched public transit pass reimbursement program.

No environmental incidents were reported in 2022.

Effectively manage and work to reduce our organization’s overall environmental impact and improve our performance in the area. 

Continue to enhance our GHG emissions calculation practices and disclosure.

Power Corporation and its group companies employed approximately 37,300 individuals, and paid out $5.60 billion in salaries and other employee benefits, as well as $4.6 billion in goods and services, and taxes paid to various levels of government. 

$43.8 million of charitable contributions were made in the communities in which we operate, supporting approximately 1,800 community organizations. 

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

Continue to make a positive contribution in the communities where we are established.