Strengthening our Responsible Management Commitment
While the first responsibility of business is to be profitable and sustainable, we have long believed that business must also play a role within the broader society in which it operates. Our responsible management philosophy is fundamental to our business success, enabling us to mitigate risk, create long-term value and earn the confidence of our customers, business partners, shareholders, employees and the communities where we operate.
At Power Corporation, we seek investments in companies that have sustainable business models with the potential over time to provide long-term value. Our group companies have a long and proud history of being responsible employers, treating their employees fairly and providing them opportunities for advancement. They consistently demonstrate integrity and high ethical standards. They also understand the need to protect the environment, as well as to contribute to economic prosperity, social well-being and quality of life in the communities where they operate.
We take an active ownership approach in the companies in which we invest to ensure that our investments continue to be managed in a manner consistent with our responsible management philosophy, including our Code of Business Conduct and Ethics, our CSR Statement and our commitment to the United Nations Global Compact (UNGC).
We welcomed the launch of the United Nations 17 Sustainable Development Goals (SDGs) in 2015. 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, as well as with CSR rating organizations.
Over the course of 2017, we:
Reviewed and updated our Code of Business Conduct and Ethics to provide greater clarity on our commitment to diversity, human rights and privacy. The revised Code was approved by our Board of Directors in March 2018;
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;
Responded to the CDP for a sixth consecutive year, receiving a score of A- (Leadership). We are proud to highlight that 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 environmental data included in our 2017 and 2018 CDP submissions was verified by PricewaterhouseCoopers;
Published our third Communication on Progress as part of our UNGC commitment, our second one at an “Advanced Level”, providing information on our management policies and procedures and on the alignment of our programs to the United Nations’ SDGs;
Maintained listing status on the FTSE4Good Global Index;
Prepared a video featuring four community-based organizations illustrating the vast array of causes supported by companies in our group, which was launched early 2018.
This CSR-dedicated microsite is a means of publicly documenting and disclosing our responsible management commitments, programs and performance. We strive to update it regularly and continue to enhance our disclosure, for instance by adding new relevant content. Throughout this website, you will see examples of how responsible management allows us to generate long-term value and sustainable growth.
We believe that strong communities are the underpinning of a successful, responsible business. For Power Corporation, the bond between community and business is symbiotic and mutually advantageous; one cannot exist effectively without the other. We are driven to strengthen that relationship through our responsible management approach to the benefit of all of our stakeholders.