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.
Power Corporation has been responding to the CDP Climate Change Program for the past eight years and supports the organization’s endeavours to increase transparency and disclosure on climate change governance, risks and opportunities, management and performance. In 2019, Power Corporation obtained a score of A- (Leadership). Its wholly owned subsidiary Power Financial also obtained a score of A- (Leadership).
Responding to the CDP for the seventh consecutive year, our subsidiary IGM Financial obtained a score of A (Leadership) for their response to the 2019 CDP questionnaire, thus earning a spot on the A List for the second consecutive year. IGM Financial is the only Canadian firm to be included in the A List for 2019.
Great-West Lifeco participated in the annual CDP Climate Change program for the seventh consecutive year. In 2019, Great-West Lifeco received an A- (Leadership) ranking from the CDP, achieving the highest rating among Canadian insurance companies for the fifth consecutive year.
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.
Euronext Vigeo Eiris’ indices are composed of the highest-ranking listed companies as evaluated by the agency in terms of their Environmental, Social and Governance (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 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.
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 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 2019, 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 fifth consecutive year as well as a third consecutive GRESB ‘5star’ rating. 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 four per cent of participants in the Global Diversified category (of 230 submissions). In addition to being recognized as a leader in the field, its score increased 18 per cent from its first submission in 2015.