Over the past few years, we, at Power Corporation and at our group companies, have multiplied our efforts to strengthen our corporate social responsibility programs and initiatives, which are fundamental to our business success.
We are proud to see our efforts, as well as those of our subsidiaries, being recognized by a number of highly respected organizations.
The CDP works with investors, companies and cities on taking urgent action to build a truly sustainable economy by measuring and understanding their environmental impact.
Power Corporation and Power Financial have been responding to the CDP Climate Change Program for the past eight years and support the organization’s endeavours to increase transparency and disclosure on climate change governance, risks and opportunities, management and performance. In 2018, both Power Corporation and Power Financial obtained a score of A (Leadership), earning a place on the CDP A List, along with 127 other companies worldwide.
Responding to the CDP for the seventh consecutive year, our subsidiary IGM Financial also obtained a score of A (Leadership) for their response to the 2018 CDP questionnaire, earning a spot on the A List and ranking in the top five financial services companies in Canada for the fifth year in a row.
Great-West Lifeco participated in the annual CDP Climate Change program for the seventh consecutive year. In 2018, Great-West Lifeco received an A- (Leadership) ranking from the CDP, making it the highest ranked Canadian insurance company on the CDP’s annual list.
Among the 2018 CDP respondents in the financial services sector, four of the five top ranked Canadian companies were members of the Power group.
Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
Power Corporation and Power Financial were added to the FTSE4Good Global Index in December 2016. IGM Financial was added to the FTSE4Good Index Series in June 2016. All three companies were reconfirmed on the Index in 2018 and 2019.
Imagine Canada is national program promoting corporate and public giving, volunteering, and support in the community, and calls for corporations to contribute a target of 1 per cent of pre-tax domestic profit to charitable causes.
A member of the program since 1989, Power Corporation has consistently exceeded its minimum donation guideline and has consequently been designated a “Caring Company” by Imagine Canada.
Our subsidiaries Great-West Life, London Life, Canada Life, IG Wealth Management and Mackenzie Investments have also received the “Caring Company” designation in recognition for their generous contribution to their communities.
Throughout the year, GWL Realty Advisors continued to pursue its target of achieving green building certifications for all eligible properties. To date, 92 per cent of its eligible commercial portfolio by floor area is BOMA BEST® or LEED® certified, representing over 36 million square feet of its managed portfolio. In 2018, its parent company, Great-West Lifeco, marked a historic milestone with all its corporate head offices being BOMA BEST® Gold certified.
It was also recognized at both national and regional levels for its sustainability-focused property management practices. In 2018, five awards were presented to properties managed by GWL Realty Advisors, relating to sustainability, staff, and operational excellence. These awards include the BOMA Certificate of Excellence (5000 Yonge St., Toronto), CREST Race2Reduce Award (33 Yonge St., Toronto) and the Don Smith Commercial Building Award (London Life Head Office).
In 2019, two of Mackenzie Investments’ funds, the Mackenzie Global Environmental Equity Fund and the Mackenzie Global Leadership Impact ETF, rated in the top five in the Canadian equity fund and ETF categories of the Corporate Knights Eco-Fund Ranking.
Corporate Knights is a Toronto-based media and investment advisory company that promotes an economic system that reflects social, economic and ecological costs and benefits. The ratings help Canadian investors to see which funds provide the best combination of economic and environmental performance.
Since 2015, IGM Financial is listed on the Jantzi Social Index (JSI), a stock index of Canada's most sustainable companies. The JSI is a socially screened, market capitalization-weighted common stock index modelled on the S&P/TSX 60. It consists of 50 Canadian companies that pass a set of broadly based ESG rating criteria. IGM Financial is one of only five financial services firms in the index.
In 2018, GWL Realty Advisors was recognized as a leader in sustainability by the Global Real Estate Sustainability Benchmark (GRESB), earning a “Green Star” ranking for the fourth consecutive year as well as a second consecutive GRESB “5star”. These recognitions reflect the company’s commitment to continuously evolving and improving its sustainability practices.
The GRESB Real Estate Assessment has placed GWL Realty Advisors among the top three participants in Canada and fourth overall (of 196 submissions) in the Global Diversified category. In addition to being recognized as a leader in the field, its score increased 16 per cent from its first submission in 2015, moving the company to the top seven per cent worldwide in 2018.