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.
In 2018, Pargesa’s subsidiary Groupe Bruxelles Lambert also became signatory to the UNGC, allowing it to better structure and strengthen its environmental, social and governance (ESG) journey.
Co-CEO Statement of Continued Support
As a diversified international management and holding company, we believe our success as a business is deeply rooted in our strong commitment to responsible management. We understand the important relationship that exists between business and society: for the first to thrive, the second must also. This is not a point that we take lightly, and by carefully considering ESG factors in our business decisions, we focus on driving sustainable value in our operating businesses and investments, while enabling economic and social progress at large.
Responsible management has long been a strong, guiding value at Power Corporation and is a constant priority that we believe is consistent with our commitment to the UNGC’s ten principles on human rights, labour rights, environment and anti-corruption, of which we have been a signatory since 2014. We have also supported the United Nations 17 Sustainable Development Goals (SDGs) since their launch in 2015. We are proud to renew our commitment of support in 2019 in alignment with the UNGC Advanced Level Criteria, which includes the ten principles as well as the UN 17 SDGs.
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. Our 2019 Communication on Progress has been prepared 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.