United Nations Global Compact
At Power Corporation, we have strengthened our commitment to responsible management by becoming a signatory to the United Nations Global Compact.
The United Nations Global Compact (UNGC) is a voluntary strategic policy initiative for businesses committed to establishing a consistent approach to corporate social responsibility within ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. Power Corporation is committed to continuing to make the Global Compact and its principles part of the culture and day-to-day activities of its business. We have outlined our activities and strategies in our Communication on Progress.
Our subsidiary Pargesa also became a signatory to the UNGC in 2019. In addition, Pargesa’s subsidiary Groupe Bruxelles Lambert (GBL), as well as Imerys, in which GBL is a majority shareholder, are both signatories to the UNGC.
CEO Statement of Continued Support
As an international management and holding company, we believe our success as a business is deeply rooted in our responsible management approach, which is consistent with the UNGC’s Ten Principles on human rights, labour, environment and anti-corruption. By carefully considering environmental, social and governance factors in our business decisions, our focus is on driving sustainable long-term value in our operating businesses and investments, while enabling economic and social progress at large.
Power Corporation became a signatory to the UNGC in 2014 and since then, the Ten Principles help inspire the culture, programs and initiatives of our company, as well as our commitments and partnerships. We have supported the UN’s 17 Sustainable Development Goals (SDGs) since their launch in 2015. Most notably, we are proud of the actions of our portfolio companies, many of which have become supporters and signatories of important third-party-led initiatives such as the Women’s Empowerment Principles, the Principles for Responsible Investment (PRI), the Task Force on Climate-related Financial Disclosures (TCFD) and the Climate Action 100+ initiative.
At Power Corporation, we invest in companies with sustainable business models that share the same philosophy and commitment to acting responsibly and ethically, and to serving the larger community in general. Our companies have a long and proud history of being responsible employers, and consistently demonstrate integrity and high ethical standards. They also understand the need to protect the environment, as well as to contribute to economic prosperity and to the communities in which they operate.
As part of our active ownership approach, we engage both formally and informally with our portfolio companies to confirm they continue to be managed in a manner consistent with our responsible management philosophy, including our Code of Business Conduct and Ethics, our Corporate Social Responsibility Statement and our commitment to the UNGC.
Statement of Continued Support
Every year, we strive to strengthen our responsible management commitments, programs and disclosures in alignment with international standards. We prepare our annual Communication in Progress in order to demonstrate the progress we have made over the past year, providing information on the commitments, initiatives and performance of our group companies with the aim of contributing to social and economic progress and the betterment of our communities.
In this Communication on Progress we reference our websites and other relevant corporate disclosure, providing a means of publicly documenting and disclosing our approach and practical examples of how responsible management is implemented within our business and throughout the Power group of companies.