Our Commitment to Responsible Management
Responsibility has always been a strong, guiding value at Power Corporation. Naturally, we take very seriously our responsibility to our shareholders, and our duty to build a strong, profitable and sustainable business. However, we also believe that businesses hold a particular responsibility to the communities in which they operate, towards fellow citizens, and towards the natural environment. We are deeply conscious of the fact that we do not operate in a vacuum: thriving businesses depend on a thriving, sustainable society.
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 in which 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, demonstrating integrity and operating in an honest, principled and disciplined manner. We pride ourselves on treating employees fairly and respectfully, and providing them opportunities for advancement. In turn, they consistently demonstrate integrity and high ethical standards, as well as a keen understanding of the need to protect the environment and contribute to economic prosperity, social well-being and quality of life in the communities they call home.
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). As a signatory since 2014, we are deeply committed to the ten principles of the UNGC on human rights, labour rights, 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, as well as with CSR rating organizations.
Over the course of 2018 and since the beginning of 2019, we:
Updated our CSR data table, which presents consolidated governance and environmental data;
Continued the deployment of our Third Party Code of Conduct with our key suppliers, consultants and business partners;
Responded to the CDP for a seventh consecutive year, receiving a score of A (Leadership), earning us a place on the CDP A List. We are proud to highlight that among the 2018 CDP respondents in the financial services sector, four of the five top ranked Canadian companies were members of the Power group;
Our environmental data included in our 2018 and 2019 CDP submissions was verified by PricewaterhouseCoopers;
Published our fourth Communication on Progress as part of our UNGC commitment, our third 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;
This CSR-dedicated microsite is a means of publicly documenting and disclosing our responsible management commitments, programs and performance each year. 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 and thriving societies are the underpinning of successful, responsible businesses. 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.