A Message from our CEO:
Our Commitment to Responsible Management
Responsibility has always been a strong, guiding value at Power Corporation, with responsible management being an intrinsic component of the company’s long-term profitability and value creation strategy. We understand that as a company, a corporate citizen, and a long-term active shareholder, we play an important role in addressing the many environmental and societal challenges faced today. Across Power Corporation and our group companies, resources and energy continued to be devoted in 2022 to address the challenges posed by climate change and to pursue greater equity, diversity and inclusion in our workplaces.
We have endeavoured to build our businesses on a foundation of integrity and ethical conduct, with responsible management and investing being an intrinsic part of our commitment to sustainability. We continue to reinforce this commitment, which is fundamental to our business success, enabling us to mitigate risk, create long-term value and earn the confidence of our clients, business partners, shareholders, employees and the communities in which we are present.
Our group companies have a long and proud history of being responsible employers, operating in a principled and disciplined manner. As a group, we strive to offer our employees a work environment that allows them to thrive and feel valued, respected and included, giving them the resources to develop their expertise and leadership skills while supporting their volunteer efforts in the community.
Power’s approach to sustainability is rooted in this responsible management philosophy, as well as in its mission statement, Corporate Sustainability Statement and Code of Business Conduct and Ethics and supported by several key corporate policies and statements. In addition, we are a signatory to the United Nations Global Compact (UNGC), formally adhering to the UNGC’s Ten Principles on human rights, labour, environment, and anti-corruption, as well as the United Nations 17 Sustainable Development Goals (SDGs). Inspired by both the SDGs and the UNGC principles, in this website we present tangible examples of the contribution our group of companies is making to advance social and economic progress.
Power Corporation continues to strengthen its commitment to responsible management through various initiatives, including our engagement with our different stakeholders.
Over the course of 2022 and since the beginning of 2023, we:
Published our ESG Data Tables for 2022, which presents consolidated ESG data. We also enhanced our reporting by monitoring a variety of indicators, including the GRI Sustainability Reporting Standards (GRI Standards), the Sustainability Accounting Standards Board (SASB), the World Economic Forum “Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation”, and the Taskforce on Climate-Related Financial Disclosure (TCFD) Recommendations, 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;
For the twelfth consecutive year in 2023, responded to the CDP climate change questionnaire;
Had the environmental data included in our 2022 and 2023 CDP submissions assured by PricewaterhouseCoopers;
Continued to embed ESG considerations in our businesses through our board representation at our group companies, knowledge sharing, senior management engagement, and our group-wide sustainability committee; and
Maintained listing status on the FTSE4Good Global Index as of July 2023.
We are also proud of the achievements of our publicly traded operating companies and alternative asset investment platforms, all of which are signatories of the Principles for Responsible Investment, either directly or through their operating companies. Great-West Lifeco, IGM Financial and Groupe Bruxelles Lambert (GBL), as well as several of their own portfolio companies, are also supporters of the Task Force on Climate-Related Financial Disclosures. In 2022, our group companies’ focus was on furthering their respective ESG strategies and initiatives, including enhancing their diversity- and climate-related data.
This microsite is a means of publicly documenting and disclosing our sustainability commitments, programs and performance annually. Throughout, we share examples of how responsible management allows us, and our group companies, to generate long-term value and sustainable growth.