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 action to build a truly sustainable economy by measuring and understanding their environmental impact.
2020 marked Power Corporation's ninth year responding to the CDP Climate Change questionnaire. We support the organization’s endeavours to increase transparency and disclosure on climate change governance, risks and opportunities, management and performance.
Power Corporation was one of only three Canadian companies, with Great-West Lifeco, to receive the top score of A (Leadership) from the CDP in 2020. In addition, Great-West Lifeco placed in the top five per cent of companies globally and achieved the highest rating among Canadian insurance companies for the sixth consecutive year.
IGM Financial also continued to take action on climate change. The company obtained a score of A- (Leadership) for their response to the 2020 CDP questionnaire.
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 was added to the FTSE4Good Global Index in December 2016 and IGM Financial was added in June 2016. Both companies were reconfirmed on the Index in 2019 and 2020 and were among only 30 Canadian companies included in this index, which is comprised of approximately 1,000 global constituents.
Euronext Vigeo Eiris’ indices are composed of the highest-ranking listed companies as evaluated by the agency in terms of their ESG performance. Power Corporation has been added to the Euronext Vigeo Eiris World 120 Index as of June 2020.
This index distinguishes 120 companies from Europe, North America and the Asia-Pacific region having achieved the most advanced ESG performances. Companies included in this index have achieved the highest scores, as determined by the agency’s review of up to 330 sustainability indicators.
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 one 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 Canada Life, IG Wealth Management and Mackenzie Investments have also received the “Caring Company” designation in recognition for their generous contribution to their communities.
Power Corporation was included in Corporate Knights’ 2020 Best 50 Corporate Citizens ranking.
Our subsidiary IGM Financial is also part of this year’s list. The complete listing of the 2020 Best 50 is available here.
Corporate Knights is a media and research firm based in Toronto that publishes one of the largest circulating magazines focused on sustainability and responsible business. Their research division produces rankings and financial product ratings based on corporate sustainability performance which help Canadian investors see which companies and funds provide the best combination of economic and environmental performance.
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 has a green building certification, BOMA BEST® or LEED®, representing over 37.8 million square feet of its managed portfolio. In 2019, they launched the “Going for Gold” challenge, to encourage office properties to achieve a minimum ‘Gold’ BOMA BEST® certification by 2023. Also in 2019, Canada Life’s London office received BOMA BEST Platinum certification, making it the first of their buildings to earn this level of certification. In addition, BOMA Québec honoured their Montréal office with The Outstanding Building of the Year Award, which recognizes excellence in building management and all facets of operating, including community involvement and environmental and sustainability management.
In 2020, IGM Financial was ranked one of the Global 100 Most Sustainable Corporations in the World by Corporate Knights after a rigorous assessment of 7,395 global companies, being one of only two global investment services companies to be named to the list.
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.
In 2019, GWL Realty Advisors was recognized as a leader in sustainability by the Global Real Estate Sustainability Benchmark (GRESB), placing among the top 10 per cent of 964 companies globally and the top 4 per cent in the Global Diversified category, and earning a Green Star ranking for the fifth consecutive year as well as a third consecutive GRESB ‘5 Star’ rating. These recognitions reflect the company’s commitment to continuously evolving and improving its sustainability practices.