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)

2023

2022

2021

2020

2013 (d)
(Base year)

SASB

GRI

WEF

TCFD

Topic Metric Third party verified (c) 2023 2022 2021 2020 2013 (d)
(Base year)
SASB GRI WEF TCFD
GHG EMISSIONS (e)(f)
Absolute (g)
Aggregated totals and performance
Scope 1, 2 and 3 tCO2e 49% 94,420 94,532 91,832 97,946 144,861
Scope 1 and 2 tCO2e 100% 24,376 27,257 26,113 28,578 50,521
Scope 1 and 2 year-over-year performance (h) Percentage -10.6% 4.4% -8.6% -30.8%
Disaggregated by Scope
Scope 1 (i) tCO2e 100% 10,379 12,139 10,049 9,994 18,924 305-1
Scope 2 (location-based) (j) tCO2e 100% 13,997 15,118 16,065 18,584 31,597 305-2
Scope 2 (market-based) (j) tCO2e 0.1% 11,036 11,535 11,988 14,551 30,493 305-2
Scope 3 (k) tCO2e 31% 70,043 67,275 65,718 69,367 94,340 305-3
Category 4 ― Upstream transportation and distribution (l) tCO2e 82% 19 15 12 34 52 305-3
Category 5 ― Waste generated in operations (m) tCO2e 57% 1,420 1,596 1,675 1,617 3,629 305-3
Category 6 ― Business travel (n) tCO2e 14% 9,033 6,483 2,905 4,379 13,669 305-3
Category 8 ― Upstream leased assets (o) tCO2e 0.5% 6,975 7,556 7,457 8,498 14,784 305-3
Category 15 ― Investments (p) tCO2e 38% 52,597 51,625 53,668 54,838 62,206 FN-AC-410b.1 305-3
Intensity (q) 305-4
By revenue tCO2e per C$100,000 of revenue 0.053 0.056 0.038 0.044 0.170 305-4
By full-time employee (FTE) tCO2e per FTE 0.64 0.73 0.77 1.05 2.20 305-4
By square footage tCO2e per 1,000 square feet 4.42 4.94 4.73 5.11 8.96 305-4
Energy (r)
Energy consumed within the group (s) MWh 118,063 128,222 128,681 140,391 180,436 302-1
Direct energy (t) MWh 48,161 55,195 53,796 53,223 82,177 302-1
Renewable direct energy (u) Percentage 7.5% 5.9% 4.6% 6.4% 0.0% 302-1
Indirect energy (t) MWh 69,902 73,027 74,885 87,168 98,259 302-1
Renewable indirect energy (u) Percentage 61.9% 59.1% 58.0% 57.1% 59.1% 302-1
Energy consumed outside the group (s) MWh 419,499 424,693 433,767 445,215 515,024 302-2
Direct energy (t) MWh 192,367 194,493 195,026 196,764 201,473 302-2
Renewable direct energy (u) Percentage 1.7% 1.7% 1.6% 2.1% 0.0% 302-2
Indirect energy (t) MWh 227,131 230,200 238,741 248,451 313,551 302-2
Renewable indirect energy (u) Percentage 81.6% 81.8% 81.8% 82.7% 84.6% 302-2
Energy intensity (v) 302-3
By revenue MWh per C$100,000 of revenue 0.254 0.263 0.185 0.217 0.609 302-3
By FTE MWh per FTE 3.10 3.43 3.81 5.16 7.87 302-3
By square footage MWh per 1,000 square feet 21.39 23.23 23.31 25.11 32.00 302-3
Waste (w)
Waste generated within the group (x)(y)
Non-hazardous waste Tonnes 10,113 2,217 1,759 1,864 2,937 306-2
Waste disposal methods 306-2
Recycling Tonnes 9,571 1,665 1,226 1,298 1,620 305-2
Waste to landfill Tonnes 466 462 394 470 1,286 305-2
Waste to energy Tonnes 77 90 139 95 31 305-2
Waste diversion Percentage 94.6% 75.1% 69.7% 69.7% 55.2% 306-2
Waste generated outside the group (x)(y)
Non-hazardous waste Tonnes 7,864 7,837 6,873 7,313 9,797 306-2
Waste disposal methods 306-2
Recycling Tonnes 5,422 5,217 4,634 5,183 7,165 305-2
Waste to landfill Tonnes 2,412 2,587 2,212 2,102 2,509 305-2
Waste to energy Tonnes 30 33 27 28 123 305-2
Waste diversion Percentage 68.9% 66.6% 67.4% 70.9% 73.1% 306-2
Water (z)
Water withdrawn within the group (aa)
Water withdrawn (ab) Cubic metres 193,483 161,013 152,206 227,238 353,893 303-3
Water intensity (ac) Cubic metres per 1,000 square feet 35.1 29.2 27.6 40.6 62.8
Water withdrawn outside the group (aa)
Water withdrawn (ab) Cubic metres 1,774,905 1,711,492 1,561,937 1,745,162 2,003,576 303-3
Water intensity (ac) Cubic metres per 1,000 square feet 45.8 45.2 41.3 48.1 60.2

FOOTNOTES/METHODOLOGY

  1. Environmental data and organizational boundary. Environmental data are reported for greenhouse gas (GHG) emissions, energy, water, and waste for the period from January 1 to December 31 of each reporting year. GHG emission data cover the business activities of Power Corporation of Canada and its wholly owned subsidiaries Square Victoria Real Estate and Power Financial Corporation (hereinafter collectively referred to as Power or its), as well as the business activities of Power's main holdings, including its major publicly traded operating companies Great-West Lifeco (Lifeco), IGM Financial (IGM), and Groupe Bruxelles Lambert (GBL), and its alternative asset investment platforms, Sagard Holdings (Sagard), and Power Sustainable Capital (PSC). Together, Power, Lifeco, IGM, GBL, Sagard and PSC are referred to as the Power Group for this environmental data disclosure. Environmental data pertaining to energy, water and waste cover the business activities of Power, Lifeco and IGM only.
  2. 2023 changes impacting data. The changes presented below impacted the reporting of 2023 GHG and environmental data. 
    Structural changes: On January 2, 2024, Lifeco's divestment of Putnam Investments became final. This entity was removed from Lifeco’s reporting boundary for the 2023 reporting year, impacting GHG emissions related to Scope 3 - Category 6 (Business travel). 
    ‒ Boundary changes: In 2023, Power included Sagard, PSC, and GBL in its GHG emission data boundary. Exclusions are disclosed in Power’s response to the 2024 CDP Climate Change questionnaire. Sagard and PSC data were included in the 2023 reporting year only as no historical data were available. GBL data were available for the 2022 and 2023 reporting years and was included accordingly. Consistent with Power's financial reporting, GBL was accounted for based on Power’s investment equity share interest in GBL of 15.5% as at December 31, 2023.
    ‒ Other changes: The cumulative effect of a series of factors, including updated Emission Factors (EFs), changes in the property inventory and the replacement of past estimates by actuals, resulted in GHG emission data recalculations for the base year and historical years.
  3. Third-party verification. Third-party verification was conducted on GHG emission data for the 2023 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 GHG inventory.
  4. Baseline year. The 2013 reporting year was selected as the baseline for measuring environmental performance as it was the first year when GHG emissions and environmental data were available within the Power Group. The base year data covered Power Group entities representing approximately 98% of Power's consolidated assets.
  5. GHG emission quantification standards. GHG emissions were quantified in alignment with the IFRS S1 Sustainability Disclosure Standard (General Requirements for Disclosure of Sustainability-related Financial Information), the IFRS S2 Sustainability Disclosure Standard (Climate-related Disclosures), and the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (2004), using the financial control consolidation approach, covering the Power Group as outlined in footnote (a). Scope 2 and Scope 3 GHG emissions were also quantified based on the GHG Protocol Scope 2 Guidance (2015), and the GHG Protocol: Corporate Value Chain (Scope 3) Accounting and Reporting Standard (2011), respectively. Several GHG technical standards were also applied, including: the GHG Protocol Technical Guidance for Calculating Scope 3 Emissions (2011); Bilan carbone (French Agency for Ecological Transition (ADEME), 2016); and the Partnership for Carbon Accounting Financials' Global GHG Accounting & Reporting Standard, Part A: Financed Emissions, Second edition (December 2022) (PCAF Standard).
  6. GHG emission quantification methodology. Unless otherwise specified, GHG emissions were quantified using the following methodology: 
    ‒ Measurement approach: GHG emissions were estimated by multiplying GHG activity data by the applicable EFs and Global Warming Potentials (GWPs), as relevant. 
    Data inputs: Primary activity data obtained from supplier invoices and reports were used in the calculations. Where such data were not available, historical data profiles and/or sector average data, proxy data or other generic data, as relevant, were used to extrapolate emissions. EFs were mainly sourced from utility-specific or region-specific sources, including the National Inventory Report 1990-2022: Greenhouse Gas Sources and Sinks in Canada, Part 2 and Part 3 (Ottawa: Environment and Climate Change Canada, 2024); the Greenhouse Gas Reporting: Conversion Factors for Company Reporting 2023 (UK Government: Climate Change and Energy); the Emissions Factors for Greenhouse Gas Inventories (U.S. Environment Protection Agency, February 2024); the Sustainable Energy Authority of Ireland: Energy in Ireland 2023 Report; and Bilan carbone (ADEME, 2016). The International Panel on Climate Change (IPCC) Fifth Assessment Report was used to aggregate the relevant constituent GHGs into carbon dioxide equivalent (CO2e) values, which mainly included the following GWPs: carbon dioxide (tCO2/unit):1; methane (tCH4/unit): 28; nitrous oxide (tN2O/unit): 265; as well as the relevant GWPs for hydrofluorocarbons and perfluorocarbons. In some instances, the IPCC Fourth Assessment Report was used. 
    ‒ Assumptions: Assumptions were made when applying historical data and sector averages to extrapolate emissions.
    ‒ Recalculations: A recalculation of GHG emissions is triggered when a structural, boundary or other change in the reporting year meets a 5% significance threshold of the base year. In 2023, total consolidated Scope 3 emissions met the threshold, resulting in a recalculation of historical and base year emissions for all scopes.
  7. Absolute GHG emissions. Absolute gross GHG emissions generated during the reporting years are expressed in metric tonnes of CO2e (tCO2e) and disclosed as classified by Scope 1, 2 and 3 and aggregated accordingly.
  8. Year-over-year change. The year-over-year percentage change is reported based on the aggregated Scope 1 and 2 GHG emissions. 
  9. Scope 1 GHG emissions. Scope 1 direct GHG emissions cover the Power Group. Power, Lifeco and IGM Scope 1 emissions cover 100% of their respective owner-occupied properties (excluding investment properties) and owned and controlled equipment and modes of transportation. GBL, Sagard and PSC had zero Scope 1 emissions in 2023 under the financial control approach. Primary activity data were obtained from supplier invoices and reports related to fuel consumption volumes from stationary and mobile GHG emission sources, including boilers, furnaces, back-up generators, and corporate vehicles, and refrigerant consumption volumes from fugitive GHG emission sources in buildings’ air conditioning units. Where such data were unavailable, historical data profiles were used to extrapolate emissions. See footnote (f) for information on EFs and GWPs, as well as footnote (b) for information on changes during 2023 that impacted the reporting of Scope 1 GHG emissions.
  10. Scope 2 GHG emissions. Scope 2 indirect GHG emissions cover the Power Group. Power, Lifeco and IGM Scope 2 emissions cover 100% of their respective owner-occupied properties (excluding investment properties). GBL, Sagard and PSC had zero Scope 2 GHG emissions in 2023 under the financial control approach. Primary activity data related to purchased electricity, steam and chilled water consumption volumes were obtained from supplier invoices and reports. Where such data were unavailable, historical data profiles were used to extrapolate emissions. Scope 2 location-based GHG emissions were calculated by multiplying the activity data by the region-specific grid EFs as specified in footnote (f). Scope 2 market-based GHG emissions were calculated by multiplying the activity data by the utility-specific EFs, which vary based on contractual instruments, including energy attributes such as renewable energy credits and direct contracts for low-carbon and renewable electricity. Where utility-specific EFs were not available, the residual mix default grid EFs were used. In 2023, 62% of market-based Scope 2 GHG emissions were calculated from utility-specific EFs. Note that Scope 2 market-based GHG emissions data are not third-party verified, except for IGM. See footnote (b) for information on changes during 2023 that impacted the reporting of Scope 2 GHG emissions.
  11. Scope 3 GHG emissions. Given the nature of the Power Group business in the financial services sector, Scope 3 indirect GHG emissions in the value chain related to Categories 1-14 are immaterial when considered in the context of Category 15 emissions related to investments. Where data were available, Scope 3 emissions are reported for Category 4 (Upstream transportation and distribution) (see footnote (l)), Category 5 (Waste generated in operations) (see footnote (m)), Category 6 (Business travel) (see footnote (n)), Category 8 (Upstream leased assets) (see footnote (o)), and Category 15 (Investments) (see footnote (p)). Additional Scope 3 data for the 2023 reporting year are disclosed in Power’s response to the 2024 CDP Climate Change questionnaire.
  12. Scope 3 – Category 4 (Upstream transportation and distribution). Scope 3 – Category 4 (Upstream transportation and distribution) refers to emissions from the transportation and distribution of water between tier 1 suppliers and owned and financially controlled properties and leased spaces (in vehicles and facilities not owned or financially controlled). While considered immaterial overall, where data were available, emissions from upstream transportation and distribution of water were calculated by Power (covering leased offices), Lifeco (covering owned properties and third-party managed field offices and other leased spaces of Great-West Life, London Life and Canada Life employees in Canada), and IGM (covering its owned property and leased offices in Canada only). This data excludes water-related emissions from investment properties. Primary activity data related to water consumption volumes were obtained from supplier invoices and reports. Where such data were unavailable, secondary data were used to extrapolate emissions based on real estate sector averages. See footnote (f) for information on EFs and GWPs, as well as footnote (b) for information on changes during 2023 that impacted the reporting of Scope 3 GHG emissions.
  13. Scope 3 – Category 5 (Waste generated in operations). Scope 3 – Category 5 (Waste generated in operations) refers to emissions from waste generated in owned and financially controlled properties and leased offices, and which occur during waste disposal and waste treatment, covering waste to landfill and waste to energy. While considered immaterial overall, emissions from waste generated in operations were calculated by Power, Lifeco (for Canada only as regards leased offices), IGM (owned property only), Sagard and PSC. Such data exclude waste-related emissions from investment properties. Primary activity data related to waste volumes and diversion methods were obtained from waste haulers and third-party contractors’ invoices and reports, as well as from building managers’ annual surveys. Where such data were unavailable, historical data profiles were used to extrapolate emissions. 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, 2023 Report, and the Industrial Facility GHG Reporting Hub at https://metrovancouver.org/boards/ZeroWaste/ZWA_2023-Jun-15_AGE.pdf#search=waste%20to%20energy and https://metrovancouver.org/boards/ZeroWaste/ZWA_2023-Sep-14_AGE.pdf#search=waste%20to%20energy. See footnote (f) for further information on EFs and GWPs, as well as footnote (b) for information on changes during 2023 that impacted the reporting of Scope 3 GHG emissions.
  14. Scope 3 – Category 6 (Business travel). Scope 3 – Category 6 (Business travel) refers to emissions from air, rail and ground transportation of employees for business-related activities in vehicles owned or operated by third parties. While considered immaterial overall, emissions from business travel were calculated by the Power Group. Primary activity data obtained from third-party suppliers were used to calculate GHG emissions, applying the fuel-based, distance-based and/or spend-based quantification methods, as relevant. Where such data were unavailable, historical data profiles were used to extrapolate emissions. See footnote (f) for information on EFs and GWPs, as well as footnote (b) for information on changes during 2023 that impacted the reporting of Scope 3 GHG emissions.
  15. Scope 3 – Category 8 (Upstream leased assets). Scope 3 – Category 8 (Upstream leased assets) refers to energy-related emissions from the operation of leased assets not already covered in Scope 1 and 2 emissions. While considered immaterial overall, emissions from upstream leased assets were calculated by Power, Lifeco (covering third-party managed field offices and other leased spaces of Great-West Life, London Life and Canada Life employees in Canada), IGM (covering Canada only), Sagard, PSC and GBL leased offices. Primary activity data related to energy consumption volumes were obtained from third-party property managers. Where such data were unavailable, secondary data were used to extrapolate emissions based on real estate sector averages. See footnote (f) for information on EFs and GWPs, as well as footnote (b) for information on changes during 2023 that impacted the reporting of Scope 3 GHG emissions. 
  16. Scope 3 – Category 15 (Investments). Scope 3 – Category 15 (Investments) relates to energy-related emissions from investment 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 Mackenzie Real Property Fund. Primary activity data related to energy consumption volumes were obtained from property managers. Where such data were unavailable, secondary data were used to extrapolate emissions based on real estate sector averages. Financed emissions were apportioned using attribution factors informed by the PCAF Standard. See footnote (f) for information on EFs and GWPs, as well as footnote (b) for information on changes during 2023 that impacted the reporting of Scope 3 GHG emissions. Note that other 2023 GHG emissions related to investments are reported in Power’s response to the 2024 CDP Climate Change questionnaire; these figures are not third-party verified.
  17. Emission intensity. Emission intensity data are reported based on total Scope 1 and 2 location-based GHG emissions.
  18. Energy data. Energy data are reported in accordance with the GRI Standards: 302 Energy (2016).
  19. Energy consumed within and outside the group. "Energy consumed within the group" relates to energy consumed from the activities owned and controlled by Power, Lifeco and IGM as 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 Power, Lifeco and IGM, covering leased and investment properties defined in footnotes (o) and (p), respectively.
  20. Direct and indirect energy. Direct energy consumed relates to renewable and non-renewable energy from fuels, covering natural gas, kerosene, gasoline, and diesel. Indirect energy includes purchased electricity, chilled water, and steam.
  21. Renewable energy. Renewable direct energy relates to the renewable natural gas procured by Power from the utility provider (Energir) servicing its owned and leased spaces in Quebec, and the green natural gas certificates procured from Bullfrog Power by IGM, relative to the total direct energy used by all Power, Lifeco and IGM corporate properties. Renewable indirect energy relates to electricity procured from low-carbon sources (including hydropower electricity in the Canadian Provinces of Ontario, Quebec, 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 Power, Lifeco and IGM corporate properties.
  22. Energy intensity. The energy intensity ratios include both direct and indirect energy consumed within the group. See footnote (s) for additional information on energy consumed within the group, as well as footnote (t) for additional information on direct and indirect energy.
  23. Waste data. Waste data are reported in accordance with the GRI Standards: 306 Waste (2020). 
  24. Waste generated within and outside the group. "Waste generated within the group" relates to waste generated from the activities owned and controlled by Power, Lifeco and IGM 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 Power, Lifeco and IGM, covering leased and investment properties defined in footnotes (o) and (p), respectively.
  25. Waste diversion and disposal methods. 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 such data were unavailable, historical data profiles were used to extrapolate waste volumes. 
  26. Water data. Water data are reported in accordance with the GRI Standards: 303 Water and Effluents (2018). 
  27. Water withdrawn within and outside the group. “Water withdrawn within the group” relates to water withdrawn by third-party municipal suppliers and consumed for the activities owned and controlled by Power, Lifeco and IGM as 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 Power, Lifeco and IGM, covering leased and investment properties defined in footnotes (o) and (p), respectively, pertaining to Power, Lifeco and IGM.
  28. Water withdrawn. Water withdrawn volumes were calculated using primary data consisting of water volumes from invoices provided by third-party suppliers. Where such data were unavailable, secondary data were used to extrapolate water volumes based on real estate sector averages. 
  29. Water intensity. Water intensity ratios "within the group" are based on the square footage of the buildings owned and controlled by Power, Lifeco and IGM as outlined in footnote (a), using a financial control approach. Water intensity ratios “outside the group” relate to leased and investment properties defined in footnotes (o) and (p), respectively, pertaining to Power, Lifeco and IGM.

 

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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