Reporting

This website is intended to provide our stakeholders with selected information concerning Power Corporation’s approach to sustainability matters, providing an overview of our responsible management policies, governance processes, programs, and highlights in regard to sustainability matters relevant to our business.

Content scope

The selection of content for the microsite was informed by stakeholder requests, as well as a variety of international frameworks and standards on sustainability reporting, including the GRI Sustainability Reporting Standards (GRI Standards). The GRI is a leading international organization that provides a Sustainability Reporting Framework, offering guidance to organizations on how to measure, understand and communicate sustainability information.

This website covers both qualitative and quantitative information for Power Corporation, supported by relevant examples from our group’s major holdings – Great-West Lifeco and its subsidiaries, IGM Financial and its subsidiaries, as well as Square Victoria Real Estate, GBL, Sagard, Power Sustainable and Wealthsimple.

Reporting cycle

The content of this website was last reviewed and updated in June 2024. The qualitative information covers content up until the last content review, while the quantitative information reflects the calendar year 2023. Information contained on this website will be reviewed and updated on an annual basis or more often as deemed appropriate.

ESG data tables

We measure our sustainability performance by monitoring various indicators. The selection of these indicators is informed by stakeholder requests, as well as international standards on sustainability reporting, including the GRI Standards, the Sustainability Accounting Standards Board (SASB) Standards, the World Economic Forum’s (WEF) “Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation”, and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

The data is reported annually, for the calendar years ended December 31, unless otherwise indicated.

Governance (a)

2023

2022

2021

2020

SASB

GRI

WEF

TCFD

Topic Metric 2023 2022 2021 2020 SASB GRI WEF TCFD
BOARD COMPOSITION (b)
Board directors (c) Number 14 14 14 13
Executive Board members Number 1 1 1 1 2-9c
Non-executive Board members Number 13 13 13 12 2-9c
Board diversity
Women (d) Number 4 4 3 2 2-9c
Percentage 29% 29% 21% 15% FN-AC-330a.1 2-9c, 405-1
Members of visible minorities (e) Number 0 0 0 0 2-9c
Percentage 0% 0% 0% 0% FN-AC-330a.1 2-9c, 405-1
Persons with disabilities (e) Number 0 0 0 0 2-9c
Percentage 0% 0% 0% 0% FN-AC-330a.1 2-9c, 405-1
Aboriginal peoples (e) Number 0 0 0 0 2-9c
Percentage 0% 0% 0% 0% FN-AC-330a.1 2-9c, 405-1
Directors aged between 30 and 49 (inclusive) Number 0 0 0 0 405-1
Directors aged between 50 and 70 (inclusive) Number 11 11 11 10 405-1
Directors aged 71 and over Number 3 3 3 3 405-1
Board tenure (f) Average Years 13 13 12 12 2-9c
Independent Board members Number 11 11 11 10 2-9c
Board independence (c) Percentage 79% 79% 79% 77% 2-9c
Audit Committee independence Percentage 100% 100% 100% 100% 2-9c
Related Party and Conduct Review Committee independence Percentage 100% 100% 100% 100% 2-9c
Human Resources Committee independence Percentage 100% 100% 100% 100% 2-9c
Governance and Sustainability Committee independence (g) Percentage 60% 60% 60% 60% 2-9c
Average Board and committee meeting attendance rate (b) Percentage 96.35% 99% 99% 100%
Directors with 4 or less mandates (h) Percentage 100% 100% 100% 100% 2-9c
ANTI-CORRUPTION
Operations assessed for risks related to corruption Percentage 100% 100% 100% 100% 205-1
Employees having received training on anti-corruption (i) Percentage 100% 100% 100% 100% 205-2
Incidents of corruption Number 0 0 0 0 FN-AC-510a.1 205-3
POLITICAL CONTRIBUTIONS
Amount of political contributions C$ 0 0 0 0 415-1

FOOTNOTES/METHODOLOGY

  1. Governance data is reported for Power Corporation of Canada (Power Corporation or the Corporation) for the period from January 1st to December 31st of each reporting year, except as otherwise provided in the footnotes below.
  2. All Board composition data is as of the dates of the annual meeting of shareholders in the respective reporting years, except for the “Average Board and committee meeting attendance rate” which is as of December 31 of each reporting year.
  3. Within the meaning of the Canadian Securities Administrators (CSA) Guidelines and National Instrument 52-110 – Audit Committees and National Instrument 58-101 – Disclosure of Corporate Governance Practices and in the Board’s view, the following eleven Directors (constituting more than 75% of the Board), namely Pierre Beaudoin, Marcel R. Coutu, Gary A. Doer, Anthony R. Graham, Sharon MacLeod, Paula B. Madoff, Isabelle Marcoux, Christian Noyer, T. Timothy Ryan, Jr., Siim A. Vanaselja and Elizabeth D. Wilson, are independent and have no other relationships that could reasonably interfere with the exercise of their independent judgment in discharging their duties to the Corporation. Paul Desmarais, Jr., Chairman, and André Desmarais, Deputy Chairman, being former executive officers of the Corporation within the past three years, are not independent. R. Jeffrey Orr, President and CEO, being an executive officer of the Corporation, is not independent. See the Independence of Directors section of the Corporate Governance page of Power Corporation’s corporate website for further information on the Corporation’s definition of independence.
  4. As at December 31, 2023, there were four women sitting on the Corporation's Board of Directors, representing 29% of the Board members. On May 9, 2024, subsequent to year-end, five women were elected to the Board at the 2024 Annual Meeting of Shareholders, bringing the percentage of women on the Board to 36%. 
  5. As defined in the Employment Equity Act (Canada).
  6. The Corporation believes that continuity of membership is critical to its Board’s efficient operation and accordingly has not adopted policies imposing an arbitrary term or retirement age limit for its Directors. Such limits fail to take into account the special characteristics of issuers such as Power Corporation and its group companies, which operate in a highly complex and technical environment. In such a context, the Corporation believes that a lengthy Board tenure, not limited by arbitrary determinations, is vital to the Directors’ understanding of the Corporation’s diverse businesses and those of its group companies, and to their bringing a substantive contribution to the Board.
  7. Following the retirement of Paul Desmarais, Jr. and André Desmarais from their executive roles as Co-Chief Executive Officers of the Corporation on February 13, 2020, the Governance and Sustainability Committee is now entirely composed of Directors who are not members of management of the Corporation.
  8. Represents mandates on public company boards outside Power Corporation and its subsidiaries (including Great-West Lifeco and IGM Financial).
  9. Power Corporation communicates its anti-corruption commitments through its Code of Business Conduct and Ethics. The Corporation also provides formal training on its Anti-Bribery Policy Statement and supporting Global Policy. To maintain awareness, the Corporation sends its personnel periodic reminders of their duties and responsibilities under the policy. Power Corporation also requires all its Directors, officers and employees to certify their compliance with the policy at least annually by attesting their compliance with the Corporation’s Code of Business Conduct and Ethics.
Environment (a)(b)

2022

2021

2020

2019

2013 (d)
(Base Year)

SASB

GRI

WEF

TCFD

Topic Metric Third Party verified (c) 2022 2021 2020 2019 2013 (d)
(Base Year)
SASB GRI WEF TCFD
GHG EMISSIONS (e)(f)
Absolute (g)
Aggregated totals and performance
Scope 1, 2 and 3 tCO2e 47% 102,274 93,025 98,491 132,297 150,592
Scope 1 and 2 tCO2e 100% 27,298 25,559 27,915 42,115 51,320
Scope 1 and 2 year-over-year performance (h) Percentage 0% 6.8% -8.4% -33.7% 7.5%
Disaggregated by Scope
Scope 1 (i) tCO2e 100% 11,822 9,534 9,389 18,565 19,713 305-1
Scope 2 (location-based) (j) tCO2e 100% 15,477 16,024 18,527 23,550 31,607 305-2
Scope 3 (k) tCO2e 27% 74,975 67,466 70,576 90,182 99,272 305-3
Category 4 ― Upstream transportation and distribution (l) tCO2e 100% 12 10 28 45 47 305-3
Category 5 ― Waste generated in operations (m) tCO2e 88% 802 738 863 1,696 2,562 305-3
Category 6 ― Business travel (n) tCO2e 12% 5,740 1,420 2,799 14,928 12,999 305-3
Category 8 ― Upstream leased assets (o) tCO2e 0% 8,581 8,371 9,029 10,721 15,704 305-3
Category 15 ― Investments (p) tCO2e 33% 57,800 54,261 54,697 60,254 67,959 FN-AC-410b.1 305-3
Intensity (q) 305-4
By revenue tCO2e per C$100,000 of revenue 0.056 0.037 0.043 0.086 0.173 305-4
By full-time employee (FTE) tCO2e per FTE 0.73 0.76 1.03 1.59 2.24 305-4
By square footage tCO2e per 1,000 square feet 4.84 4.53 4.89 7.37 8.91 305-4
Energy (r)
Energy consumed within the group (s) MWh 129,816 123,366 137,946 187,773 206,980 302-1
Direct energy (t) MWh 55,662 46,105 48,362 84,878 92,713 302-1
Renewable direct energy (u) Percentage 5.8% 5.4% 7.1% 6.1% 0.0% 302-1
Indirect energy (t) MWh 74,153 77,261 89,584 102,895 114,267 302-1
Renewable indirect energy (u) Percentage 61.0% 59.3% 58.2% 57.7% 55.4% 302-1
Energy consumed outside the group (s) MWh 464,467 456,627 463,258 495,238 526,559 302-2
Direct energy (t) MWh 210,475 201,647 200,099 212,529 200,906 302-2
Renewable direct energy (u) Percentage 0.6% 1.9% 1.4% 0.5% 0.0% 302-2
Indirect energy (t) MWh 253,992 254,979 263,160 282,709 325,653 302-2
Renewable indirect energy (u) Percentage 82.9% 85.0% 86.2% 86.1% 88.0% 302-2
Energy intensity (v) 302-3
By revenue MWh per C$100,000 of revenue 0.267 0.177 0.213 0.384 0.698 302-3
By FTE MWh per FTE 3.48 3.66 5.07 7.07 9.03 302-3
By square footage MWh per 1,000 square feet 23.02 21.88 24.16 32.88 35.95 302-3
Waste (w)
Waste generated within the group (x)(y)
Non-hazardous waste Tonnes 2,243 1,785 1,883 3,958 3,346 306-2
Waste disposal methods 306-2
Recycling Tonnes 1,665 1,226 1,298 2,539 1,628 305-2
Waste to landfill Tonnes 488 420 489 1,215 1,687 305-2
Waste to energy Tonnes 90 139 95 204 31 305-2
Waste diversion Percentage 74.2% 68.7% 69.0% 64.2% 48.7% 306-2
Waste generated outside the group (x)(y)
Non-hazardous waste Tonnes 7,637 6,667 7,142 9,300 9,236 306-2
Waste disposal methods 306-2
Recycling Tonnes 5,083 4,502 5,078 6,685 6,933 305-2
Waste to landfill Tonnes 2,521 2,138 2,036 2,521 2,180 305-2
Waste to energy Tonnes 33 27 28 95 123 305-2
Waste diversion Percentage 66.6% 67.5% 71.1% 71.9% 75.1% 306-2
Water (z)
Water withdrawn within the group (aa)
Water withdrawn (ab) Cubic metres 160,826 152,206 226,586 363,754 410,865 303-3
Water intensity (ac) Cubic metres per 1,000 square feet 28.5 27.0 39.7 63.7 71.4
Water withdrawn outside the group (aa)
Water withdrawn (ab) Cubic metres 2,280,512 2,064,013 2,248,731 2,520,425 2,477,350 303-3
Water intensity (ac) Cubic metres per 1,000 square feet 58.4 52.9 59.9 67.1 70.3

FOOTNOTES/METHODOLOGY

  1. Environmental data is reported for greenhouse gas (GHG) emissions, energy, water and waste for the period from January 1st to December 31st of each reporting year. The data covers the business operations of Power Corporation of Canada and those of its wholly owned subsidiary Square Victoria Real Estate (together referred to as “Power Corporation” for this environmental data disclosure and the footnotes referenced below). It also includes Power Corporation of Canada’s major publicly traded operating companies, Great-West Lifeco (Lifeco) and IGM Financial (IGM), which represent approximately 98% of Power Corporation of Canada’s consolidated assets. Together, Power Corporation, Lifeco, and IGM are referred to as the “Power Group” for this environmental data disclosure and the footnotes referenced below.
  2. The changes presented below impacted the reporting of 2022 GHG and environmental data.
      - In 2021, Power Corporation divested a warehouse asset which it now leases, resulting in the emissions associated with the warehouse being transferred from Scope 1 and 2 to Scope 3 – Category 8 (Upstream leased assets) in 2022.
      - In 2021, IGM divested its owned corporate jet, resulting in the emissions associated with the jet fuel being transferred from Scope 1 to Scope 3 – Category 6 (Business travel) from baseline year 2013 to 2021. This transfer of emissions allows for consistency and comparability of emissions.
      - In 2022, 17 properties were divested from IGM’s Real Property Fund, an investment fund, resulting in the removal of the emissions associated with these properties from Scope 3 – Category 15 (Investments).
  3. Third-party verification was conducted on GHG emissions data for the 2022 reporting year by PricewaterhouseCoopers (PwC) to a limited level of assurance in accordance with the International Standard on Assurance Engagements 3410, Assurance Engagements on Greenhouse Gas Statements (ISAE 3410). Where less than 100% of the data was verified, the percentage of verified data is calculated and reported based on the assured data from the Power Group inventory.
  4. The 2013 reporting year was selected as the baseline for measuring environmental performance as it was the first year when consolidated data was available within the Power Group.
  5. GHG emissions were measured in accordance with the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (2004) (GHG Protocol), using the financial control consolidation approach covering the Power Group as outlined in footnote (a) above. GHG emissions were quantified using the GHG Protocol calculation approach (as opposed to the direct measurement approach), which consists in multiplying GHG activity data by the applicable emission factor(s) (EFs) and global warming potentials (GWPs). Where available, primary activity data was used from third parties’ invoices or reports. Where primary data was unavailable, secondary data was used, such as industry-average data, proxy data, and other generic data, as relevant. EFs were mainly sourced from government agencies, including the National Inventory Report 1990-2021: Greenhouse Gas Sources and Sinks in Canada, Part 2 and Part 3 (Ottawa: Environment and Climate Change Canada, 2023); the Greenhouse Gas Reporting: Conversion Factors for Company Reporting 2022 (UK Government: Climate Change and Energy); the Emissions Factors for Greenhouse Gas Inventories (U.S. Environment Protection Agency
    March 2023); and the Sustainable Energy Authority of Ireland: Energy in Ireland 2022 Report. The GWPs were based on the International Panel on Climate Change (IPCC) Fourth Assessment Report. The relevant constituent GHG identified in the United Nations Framework Convention on Climate Change (UNFCC) and the Kyoto Protocol were applied, aggregated, and converted into units of carbon dioxide equivalent (CO2e) using the applicable GWP values.
  6. Any change in GHG emissions data during the latest reporting year, including acquisitions and divestitures of corporate assets, resulted in a recalculation of baseline and past year emissions.
  7. Absolute GHG emissions generated during the reporting periods are expressed in metric tonnes of CO2e (tCO2e) and disclosed as classified by Scope 1, 2 and 3 and aggregated accordingly.
  8. The year-over-year percentage change is reported based on the aggregated Scope 1 and 2 GHG emissions.
  9. Scope 1 direct GHG emissions were calculated using primary data consisting of consumption volumes from invoices provided by third-party suppliers, including natural gas, kerosene, diesel from back-up generators, vehicle fuel, and refrigerants. Where invoices were unavailable, secondary data was used to extrapolate emissions based on historical data for the years 2013 to 2018, and on sector averages for the years 2019 to 2022. The portion of Scope 1 GHG emissions calculated using secondary data is as follows: 4% in 2013, 3% in 2018, 2% in 2019, 17% in 2020, 3% in 2021 and 5% in 2022. Note that the reported Scope 1 GHG emissions for IGM are approximately 4 tCO2e, which IGM calculated by deducting 613 tCO2e from its gross Scope 1 emissions of approximately 617 tCO2e in 2022 due to the purchase of 312,918 m3 of green natural gas to match its owned building natural gas consumption. See footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 1 GHG emissions.
  10. Scope 2 indirect location-based GHG emissions were calculated using primary data consisting of purchased electricity and steam consumption volumes from invoices provided by third-party suppliers. Where invoices were unavailable, secondary data was used to extrapolate emissions based on historical data for the years 2013 to 2018, and on sector averages for the years 2019 to 2022. The portion of Scope 2 location-based GHG emissions calculated using secondary data is as follows: 4% in 2013, 4% in 2018, 0% in 2019, 25% in 2020, 10% in 2021 and 3% in 2022. Scope 2 indirect market-based GHG emissions were consolidated for the Power Group in 2022, amounting to approximately 12,017.35 tCO2e, of which 82% was calculated from supplier-specific EFs. Lifeco supplier-specific EFs relate to purchases of renewable and low-carbon electricity from local utilities in Canada, the United States, the United Kingdom, and Ireland. IGM supplier-specific EFs relate to purchases of low-carbon electricity from local utilities in Canada, specifically Manitoba Hydro. Power Corporation used location-based Scope 2 EFs for the calculation. Note that the Scope 2 market-based GHG emissions data is not third-party verified. Scope 2 location- and market-based GHG emissions were quantified in accordance with the Greenhouse Gas Protocol: Scope 2 Guidance (2015). See footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 2 GHG emissions.
  11. Scope 3 indirect GHG emissions are disclosed within the respective categories described in the Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard (2011). Note that Scope 3 emissions data is reported based on data availability and/or relevance of the respective categories to the Power Group, consistent with Lifeco’s and IGM’s reporting, and described below in footnotes (l), (m), (n), (o) and (p). Additional Scope 3 data for 2022 is disclosed in Power Corporation of Canada’s response to the 2023 CDP Climate Change questionnaire.
  12. GHG emissions reported under Scope 3 – Category 4 (Upstream transportation and distribution) relate to the distribution of water to and from Lifeco’s and IGM’s owner-occupied properties. This data excludes water-related emissions from Power Corporation (data not available), from leased properties (reported under Scope 3 – Category 8), and from investment properties (consistent with the Partnership for Carbon Accounting Global GHG Accounting and Reporting Standard Part A: Financed Emissions covering Scope 1 and 2 emissions (PCAF Standard)). GHG emissions were calculated using primary data consisting of water consumption volumes from invoices provided by third-party suppliers. Where invoices were unavailable, secondary data was used to extrapolate emissions based on historical data for the years 2013 to 2018, and on sector averages for the years 2019 to 2022. Note that in 2023, electricity EFs were revised to only report emissions from the transportation and distribution of water. See footnote (e) for further information on secondary data sources, EFs and GWPs, as well as footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 3 GHG emissions.
  13. GHG emissions reported under Scope 3 – Category 5 (Waste generated in operations) relate to the waste generated at Power Corporation’s, Lifeco’s and IGM’s owner-occupied properties, which includes waste sent to landfill, to waste-to-energy plants, and to recycling facilities, where relevant. This data excludes waste-related emissions from leased properties (reported under Scope 3 – Category 8), and from investment properties (consistent with the PCAF Standard). GHG emissions were calculated using primary data consisting of waste volumes from invoices and waste disposal method diversion reports provided by third-party contractors. Where invoices or reports were unavailable, secondary data was used to extrapolate emissions based on historical data for the years 2013 to 2018, and on sector averages for the years 2019 to 2022. Note that the following specific waste-to-energy EFs were applied, as relevant: Province of Ontario: The York Durham Energy Centre Correspondence, April 2021 (non-biomass emissions and tonnage only); and Province of British Columbia: Metro Vancouver Recycling and Solid Waste Management Program, 2021 Report and the Industrial Facility GHG Reporting Hub at https://www2.gov.bc.ca/gov/content/environment/climate-change/data/industrial-facility-ghg (filter by facility). See footnote (e) for further information on secondary data sources, EFs and GWPs, as well as footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 3 GHG emissions.
  14. GHG emissions reported under Scope 3 – Category 6 (Business travel) relate to air and ground business travel within the Power Group. GHG emissions were calculated using primary data from reports provided by third-party suppliers and applying the fuel-based, distance-based and spend-based quantification methods. Where primary data was unavailable, secondary data was used to extrapolate historical emissions. See footnote (e) for further information on secondary data sources, EFs and GWPs, as well as footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 3 GHG emissions.
  15. GHG emissions reported under Scope 3 – Category 8 (Upstream leased assets) relate to Power Corporation’s leased real estate assets; Lifeco’s external (third-party managed) leased field offices; Great-West Life’s, London Life’s and Canada Life’s leased office spaces for employees in Canada; IGM’s leased corporate properties and IG Wealth Management leased region offices. GHG emissions were calculated using primary data consisting of energy, water and waste volumes provided by property managers. Where data was unavailable, secondary data was used to extrapolate emissions based on real estate sector averages. See footnote (e) for further information on secondary data sources, EFs and GWPs, as well as footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 3 GHG emissions.
  16. GHG emissions reported under Scope 3 – Category 15 (Investments) relate to investments properties in the Lifeco General Account, the Lifeco segregated real estate funds (GWL Canadian Real Estate Fund No.1 and London Life Real Estate Fund), and IGM’s IG Real Property Fund. The GHG emissions from investments were informed by the PCAF Standard and calculated using primary data consisting of energy consumption volumes provided by property managers. Where primary data was unavailable, secondary data was used to extrapolate emissions based on real estate sector averages. See footnote (e) for further information on secondary data sources, EFs and GWPs, as well as footnote (b) for further information on changes during 2022 that impacted the reporting of Scope 3 GHG emissions. Also note that other 2022 GHG emissions from investments are reported in Power Corporation of Canada’s response to the 2023 CDP Climate Change questionnaire; these figures are not third-party verified.
  17. Emission intensity data is reported based on total Scope 1 and 2 location-based GHG emissions.
  18. Energy data is reported in accordance with the GRI Standards: 302 Energy (2016).
  19. “Energy consumed within the group” relates to energy consumed from the activities owned and controlled by the Power Group outlined in footnote (a), using a financial control approach. “Energy consumed outside the group” refers to energy consumed from activities not owned or controlled by the Power Group, covering leased and investment properties defined in footnotes (o) and (p) respectively.
  20. Direct energy consumed relates to non-renewable and renewable energy from fuels covering natural gas, kerosene, gasoline. and diesel. Indirect energy includes purchased electricity, chilled water, and steam.
  21. Renewable direct energy relates to the green natural gas certificates procured from Bullfrog Power by IGM, relative to the total direct energy used by all corporate properties. Renewable indirect energy relates to electricity procured from low-carbon sources (including hydropower electricity in the Canadian Provinces of Ontario, Québec, British Columbia and Manitoba, as well as steam in the Canadian Provinces of Ontario and British Columbia), relative to the total indirect energy used by all corporate properties.
  22. The energy intensity ratios include both direct and indirect energy consumed within the Power Group. See footnote (t) for additional information on direct and indirect energy.
  23. Waste data is reported in accordance with the GRI Standards: 306 Waste (2020).
  24. “Waste generated within the group” relates to waste generated from the activities owned and controlled by the Power Group outlined in footnote (a), using a financial control approach. “Waste generated outside the group” relates to waste generated from activities not owned or controlled by the Power Group, covering leased and investment properties defined in footnotes (o) and (p) respectively.
  25. Waste volumes and waste disposal methods were calculated and determined using primary data consisting of waste volumes from invoices and waste disposal method diversion reports provided by third-party contractors. Where invoices or reports were unavailable, secondary data was used to extrapolate waste volumes based on the previous months’ waste category volumes.
  26. Water data is reported in accordance with the GRI Standards: 303 Water and Effluents (2018).
  27. “Water withdrawn within the group” relates to water withdrawn by third-party municipal suppliers and consumed for the activities owned and controlled by the Power Group outlined in footnote (a), using a financial control approach. “Water withdrawn outside the group” relates to water withdrawn by third-party municipal suppliers and consumed for activities not owned or controlled by the Power Group, covering leased and investment properties defined in footnotes (o) and (p) respectively.
  28. Water withdrawn volumes were calculated using primary data consisting of water volumes from invoices provided by third-party suppliers. Where invoices were unavailable, secondary data was used to extrapolate water volumes based on historical data for the years 2013 to 2018, and on sector averages for the years 2019 to 2022.
  29. Water intensity ratios are based on the square footage of the buildings covered “within the Power Group” as outlined in footnote (a) above, and “outside the Power Group” relating to leased and investment properties defined in footnotes (o) and (p) respectively.

 

Abbreviations

The following abbreviations are used throughout our reporting: C$ (Canadian dollars); Canada Life (The Canada Life Assurance Company); ESG (environment, social and governance); GBL (Groupe Bruxelles Lambert); GHG (greenhouse gas); Great-West Lifeco (Great-West Lifeco Inc.); GWL Realty Advisors (GWL Realty Advisors Inc.); IGM Financial (IGM Financial Inc.); IG Wealth Management (Investors Group Inc.); Lion Electric (The Lion Electric Company); LMPG (LMPG Inc.); Mackenzie Investments (Mackenzie Financial Corporation); MWh (megawatt hours); Nautilus Solar (Nautilus Solar Energy, LLC); our Code (Code of Business Conduct and Ethics); our Third Party Code (Third Party Code of Conduct); Potentia Renewables (Potentia Renewables Inc.); Power Corporation or the Corporation (Power Corporation of Canada); Power Financial (Power Financial Corporation); Power Sustainable (Power Sustainable Capital Inc.); Power Sustainable China (Power Sustainable Investment Management Inc.); PSEI (Power Sustainable Energy Infrastructure); Sagard (Sagard Holdings Inc.); SDGs (Sustainable Development Goals); tCO2e (metric tonnes of CO2 equivalent); UNGC (United Nations Global Compact); Wealthsimple (Wealthsimple Financial Corp.).

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