Aligning with the Sustainable Development Goals

We are committed to the United Nations 17 Sustainable Development Goals (SDGs) and work to support the goals they outline, including the eradication of poverty, building economic growth, addressing social needs, and tackling climate change. Given the mainstay of our investments is in financial services, we believe we represent a positive force in society. Our major publicly traded operating companies offer life and health insurance, retirement savings programs and a broad range of investment vehicles, including socially responsible funds. The following examples demonstrate how the Power Corporation group of companies are contributing to the SDGs.



Target 3.8: Achieve universal health coverage, including financial risk protection, access to quality essential health-care services and access to safe, effective, quality and affordable essential medicines and vaccines for all

Health Benefits

As an employer, we provide our employees and their families access to an Employee and Family Assistance Program to support work, health and life issues, including workplace challenges, nutrition, physical and mental health, addiction concerns, stress, depression and anxiety, family and parenting, relationships, and other situations. We also provide life insurance, short-term and long-term disability insurance, vision care, and dental coverage for our employees and retirees and access to on-site flu vaccinations or reimbursement of fees for a flu vaccine provided by a doctor or a pharmacy. Employees are also offered a yearly Well-Being Allocation, which provides a flexible approach to wellness, and a free gym membership. Finally, we offer employees access to Dialogue, Canada's premier virtual healthcare and wellness platform.

As an investor, we invest in businesses that promote health and wellness. For instance, Great-West Lifeco’s health and life insurance business is helping thousands of Canadians manage their personal wellness. Working together with other healthcare partners, they are improving the accessibility and affordability of group benefits, providing education on physical health, and developing a greater understanding of mental health. 

Canada Life, a subsidiary of Great-West Lifeco, expanded their virtual health offering by adding Dialogue's internet-based cognitive behavioural therapy (iCBT) to all Canadian Consult+™. With iCBT, plan members can access self-led mental health support for mild to moderate depression and anxiety where and when they need it. The company was the first Canadian insurer to make Dialogue’s Consult+™ virtual health care a standard benefit for all group health plans with up to 400 plan sponsors.

Mental Health in the Workplace

Initially established in 2007 as the Great-West Life Centre for Mental Health in the Workplace, Workplace Strategies for Mental Health, compliments of Canada Life (Workplace Strategies), offers a range of tools and resources for employers and employees to protect psychological health and safety at work. 

In 2022, Workplace Strategies celebrated 15 years of supporting the mental health and psychological safety of Canadians. To help recognize this achievement, Canada Life donated $15,000 to the Canadian Mental Health Association to further support mental health for all. In October, Workplace Strategies launched a new collection of activities to help manage stressful, anxious or depressive thoughts while at work. Since January 2022, Canada Life has invested over $2 million in Workplace Strategies for Mental Health, and more than 650,000 visitors browsed Workplace Strategies’ free online tools and resources.



Target 4.6: Ensure that all youth and a substantial proportion of adults, both men and women, achieve literacy and numeracy

Financial Literacy

Financial literacy is fundamentally important for Canadians of all backgrounds and stages of life. Being financially literate means having the knowledge, skills, and confidence to make informed financial decisions. Through Great-West Lifeco and IGM Financial, we support programs that promote financial literacy and education.

Since 2014, Canada Life, a subsidiary of Great-West Lifeco, has been the national development sponsor of the Chartered Professional Accountants of Canada (CPA Canada), which offers one of Canada’s most comprehensive financial literacy programs, delivering unbiased information in plain language to Canadians of all ages. They offer free resources, tools, and virtual sessions to anyone seeking a better grasp on their finances. More than 7,000 CPA Canada volunteers – including many Canada Life employees – deliver free financial literacy sessions through the country. In 2022, Canada Life’s funding supported community growth and volunteer engagement by employing dedicated resources to promote in-community programs and activate new CPA volunteers, while targeting groups most affected by the pandemic. During the year, CPA Canada held over 1,300 financial literacy sessions across the country, and more than 240,000 people engaged with the program in various ways.

As an extension of IGM Financial’s day-to-day work of helping clients with their financial goals, the company is committed to improving the financial confidence of Canadians who need it the most, knowing that providing people with the knowledge and resources they need to understand their personal finances will help them build a better financial future for themselves, and in turn improve other aspects of their lives. Through the daily work of financial advisors who serve its clients, the financial literacy presentations these advisors deliver in the community, and as partners in the creation of financial education programs and curricula, IGM Financial is a leader in the ongoing effort to advance the financial confidence and financial security of Canadians.

In 2022, IG Wealth Management, one of IGM Financial’s operating companies, partnered with Prosper Canada to build financial wellness in First Nations communities. The project integrates culturally appropriate financial wellness supports into existing services in two Manitoba and two Ontario First Nations communities. The customized supports include access to personal identification, tax filing, benefits applications, money management and Registered Education Savings Plan workshops. IG Wealth Management also partnered with SEED Winnipeg to provide financial education and money management training to Indigenous Peoples.

In addition, IGM Financial promotes financial confidence through its community program IG Empower Your Tomorrow. Through IG Wealth Management advisors, national partnerships, community seminars, events and educational materials, the program works to remove barriers to financial confidence among four traditionally underserved groups: Indigenous peoples, newcomers, seniors and youth. As part of this program, IG Wealth Management partnered with the Canadian Foundation for Economic Education (CFEE) to integrate Money & Youth, a key educational resource, into the high school curriculum in multiple provinces. They also supported the development of a 2023 Money & You: Seniors Edition to promote financial literacy and help seniors gain a positive relationship with money. In 2022, they delivered 60 workshops to more than 8,000 seniors, youth, parents and teachers. In addition, over 20,000 people attended IG Wealth Management webinars covering a wide variety of topics including financial literacy, market volatility and inflation, and retirement and estate planning.

Lastly, knowing that learning the financial systems of a new country can be daunting, IGM Financial works with the Immigrant and Refugee Community Organization of Manitoba to provide financial education in newcomers’ first language. The company also has a long-standing partnership with the United Way and support local chapters across the country so they can offer financial literacy programs to newcomers. 



Target 5.5: Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making

Gender Diversity

Power Corporation has a commitment to promote gender diversity at the Board and at senior management levels, which we articulate through our Board and Senior Management Diversity Policy. The Board believes diversity ensures directors provide the necessary range of perspectives to achieve effective stewardship and recognizes that gender diversity is a significant aspect of diversity. We aim to have at least 30% of our Board composed of women by 2025. Following the 2023 Annual Meeting of Shareholders, women elected to the Board represent 29% of Board. In addition, 52% at the management level at Power Corporation are women and 31% at the executive officer level within the Corporation's group companies (including its publicly traded operating companies and their respective principal subsidiaries).

Of the initiatives funded by the Power group in 2022, a key focus was on the advancement of women and gender equality. Organizations Power Corporation continued to support in 2022 include Fora: Network for Change, a centre for excellence for young women’s leadership development, École de technologie supérieure’s Objectif Féminin pluriel, which aims to increase female representation in the field of engineering, and the Foundation Lise Watier’s Let’s Start Up Program, which helps women looking to achieve a professional project related to entrepreneurship, the pursuit of post-secondary education or the search for a more fulfilling job.

Great-West Lifeco has set a goal to grow representation of women in management roles to 50% across its business segments by 2030 and as at 2022 year-end was on track to meet this objective. In addition, in 2022, 67% of Great-West Lifeco’s Canadian workforce and 45% of its management-level employees in the country were women. In recent years, Great-West Lifeco's Canadian companies supported the launch of networking and mentoring groups, such as the Women in Leadership group, and other initiatives for up-and-coming female leaders, focusing on education and inspiration. These groups reflect the company’s commitment to diversity and inclusion in the workplace, and in particular support the advancement of women in the organization.

In 2022, Great-West Lifeco’s subsidiary Canada Life contributed to Brescia University College to support the development of the Diversity in Leadership diploma and certificate programs to advance women in leadership and systems change, with a particular focus on providing access to equity-deserving students through outreach and financial support.

At IGM Financial, increasing the representation of women in leadership positions is a priority. To drive continued progress, the company is focused on achieving its 35% women representation at the vice-president level or above by 2025 (including 40% at the assistant vice-president level or above), originally set in 2021. At the end of 2022, women occupied 33% of vice-president level positions or above, and 36% of assistant-vice presidents level positions or above. 

Moreover, in 2021 IGM Financial created business resource groups (BRGs) to replace their more informal Partners in Action teams. BRGs are volunteer employee-led groups with a common goal of cultivating an inclusive work environment through a focus on career development, mentoring, networking and business impact. One of the BRGs created, was the Women Business Resource Group and is supported by executives across IGM Financial and its operating company Mackenzie Investments. 

For its part, Mackenzie Investments’ Mackenzie Global Women’s Leadership Fund and Mackenzie Global Women’s Leadership ETF aim at driving social and governance change through a focus on companies that promote gender diversity and women’s leadership.

In 2022, Mackenzie Investments partnered with the Ivey Business School to deliver the Women in Asset Management program to encourage more women to pursue a career in the financial services industry. They also supported the Women in Capital Markets (WCM) and the Return to Bay Street programs. The WCM programs select women employees who are then invited to participate in external leadership development programs overseen by WCM. For its part, the Return to Bay Street program facilitates the return to the workforce of experienced women who have previously held mid-level and senior positions in capital markets, have taken time away from their careers in finance, and are now interested in returning.



Target 7.1: Ensure universal access to affordable, reliable, and modern energy services
Target 7.2: Increase substantially the share of renewable energy in the global energy mix

Renewable Energy Financing

We invest in the renewable energy sector through our alternative asset investment platform Power Sustainable, which actively manages investments in companies that benefit from the global energy transformation. Power Sustainable has invested in companies that develop, own and operate solar and wind generating assets in North America as well as in leading manufacturers of sustainable technologies. Through its platform Power Sustainable Energy Infrastructure (PSEI), it holds 100% interest in Potentia Renewables, a renewable energy generation company, active in North America, that is a fully integrated developer, operator and manager of solar and wind energy assets; and Nautilus Solar, a company headquartered in New Jersey, U.S., that acquires, develops, finances and manages distributed solar projects across community, municipal/utility-scale, commercial and industrial markets. 

In March 2023, Power Sustainable launched its Global and European infrastructure credit platforms. These platforms will target global investments in energy and other sustainable infrastructure.

Investments in Green Energy Projects

To take advantage of the low carbon transition, Great-West Lifeco also increased investments in the cleaner energy market to over $6.35 billion in 2022 in wind, solar, and hydro renewable energy projects.  



Target 8.3: Support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

Job creation and benefits

Power Corporation and its group companies employed approximately 37,300 individuals and paid out $5.60 billion in salaries and other benefits in 2022. These funds flow through the economy, impacting the hundreds of communities in which our employees live and work. Our investments in training and new technologies also contribute to develop local talent and the intellectual capital of our people. 


Through its investment activities, Great-West Lifeco provides long-term capital, contributing to economic growth, and helping Canadians reach their financial goals. The company’s commercial mortgages, public bond and private placement investments provide opportunities for businesses and governments to help create employment, fund research and development, and support infrastructure, healthcare, and renewable energy projects. In 2022, the company funded more than $2.3 billion in new private debt and commercial mortgages across Canada. 

In partnership with our group companies, Great-West Lifeco and IGM Financial, Power Corporation has been actively participating in the emerging fintech industry. The group believes that fintech will change business models in financial services, making financial advice, insurance and investment services more accessible to consumers and available to them by the means and at the times that best suit them.

One of our alternative asset investment platforms, Sagard, is committed to supporting the business building process. Through its Canadian private equity business (Sagard Private Equity – Canada) the company hopes to build a private equity franchise that will be recognized as the partner of choice for Canadian mid-market entrepreneurs and management on their quest to become market leaders. Meanwhile, through Sagard Private Equity – Europe, the company invests in small and middle market opportunities focused on transformational growth companies in Europe. 

Diagram, an ecosystem partner of our alternative asset investment platform, Sagard, aims to build a new model for creating successful technology companies. They pair de-risked ideas with exceptional founders and early-stage capital to launch and scale companies from the ground up. They also provide advisory support for portfolio companies post-seed, from fundraising and M&A support to functional expertise.


IG Wealth Management and Mackenzie Investments have continued to be market leaders in offering Registered Disability Savings Plans (RDSPs) for clients or their family members with disabilities, providing them access to a tax-preferred savings vehicle and the opportunity to take advantage of generous government grants and bonds. 

SDG 10

SDG 10

Target 10.2: Empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status
Target 10.3: Ensure equal opportunity and reduce inequalities of outcome

Reducing Inequalities

All three of IGM Financial’s operating companies – IG Wealth Management, Mackenzie Investments and Investment Planning Counsel – are signatories to the United Nations Women’s Empowerment Principles, which promote gender equality in the workplace, communities and marketplace. IGM Financial's group companies and Canada Life have also made public pledges to end anti-Black systemic racism by signing the BlackNorth Initiative. 

In 2022, IGM Financial announced its Black Mentorship program and in 2023, its ongoing efforts to champion diversity, equity and inclusion were recognized and celebrated as one of Canada’s Best Diversity Employers.

In addition, both Great-West Lifeco's subsidiary Canada Life, and IGM Financial's subsidiary IG Wealth Management are signatories of Winnipeg’s Indigenous Accord, committing to fostering a workplace culture in which Indigenous peoples and all employees can contribute to their fullest potential. IGM Financial and Canada Life are also taking concrete actions in support of the Canadian Truth and Reconciliation Commission’s Call to Action #92. For instance, in 2022, Canada Life continued to support its employees on their journeys of education by providing access to curated learning resources, training and Indigenous-led events. For its part, IGM Financial supports Indigenous communities by striving to break down barriers for Indigenous people working in their industry, promoting financial literacy and wellness with programs such as IG’s Empower Your Tomorrow program, and providing education for their people to increase knowledge of and respect for Indigenous culture and history.

Canada Life supports several organizations which aim to reduce inequalities for First Nations. Among these, Teach For Canada’s objective is to make education more equal for First Nations and close the statistical education gap between First Nations and non-First Nations communities by recruiting, preparing and supporting committed teachers. In remote and northern communities, educators can play an essential role that goes beyond classroom learning, but they may not have access to the proper resources or support. In 2022, Canada Life’s support contributed to 55 new educators with trauma-informed and suicide prevention training, 150 educators with access to personal, professional and peer support networks to address trauma, depression, and anxiety, and more than 3,000 First Nations youth with committed educators who can provide support for mental health challenges.

Canada Life also supports Saskatchewan Polytechnic’s Learner Pathways for Indigenous Empowerment program which empowers Indigenous students to complete their post-secondary education, helping reduce the gap in attainment rates between Indigenous and non-Indigenous learners, and positively impacting social and economic outcomes for Indigenous learners and their families. Canada Life’s funding helps a community liaison focus on recruiting Indigenous students, connecting with their communities and acting as the point person at reserve and high Indigenous population schools.

Also supported by Canada Life is Ká Ní Káníchihk which delivers effective, Indigenous-designed and led programs that help individuals and families heal, learn, and succeed. Canada Life contributed to their Expansion Capital Campaign to expand their existing facility and increase the program’s capacity.

Sagard, one of Power Corporation’s alternative asset investment platform, puts emphasis on network-building and inclusion practices. In 2020, Sagard’s CEO co-founded the Black Wealth Club (BWC), and in 2021, the Indigenous Leadership Circle (ILC), both aiming to create bridges and exchange knowledge and networks with young professionals and entrepreneurs across Canada.

Power Corporation supports initiatives that promote human rights in our community, including Lawyers Without Borders Canada, a non-governmental international cooperation organization whose mission is to support the defense of the human rights of people in situations of vulnerability by strengthening access to justice and legal representation, and Equitas' series of Equitalks conferences that focus on addressing inequities and discrimination and work to build safer and more inclusive communities throughout the world.   

Power Corporation also supports the work of the Institute for Canadian Citizenship (ICC), whose programs and special projects aim to inspire inclusion, celebrate newcomers and encourage active citizenship. Notable is the organization’s Canoo Cultural Access Pass, a mobile phone application that provides new Canadian citizens free VIP admission to 1,400 of Canada’s best museums, galleries, festivals, concerts, science centres, parks, and other cultural sites. Canoo allows the country’s newest members to enjoy the unique opportunity to learn, explore, and engage fully with their communities and others across Canada.

Economic Inclusion

Our group's financial services companies provide clients with a financial advisor who is encouraged and trained to recommend products that are suitable for each client’s individual situation. 

IGM Financial believes that providing Canadians with the knowledge and resources they need to understand and feel confident about their personal finances will help them build a better financial future for themselves, and in turn improve other aspects of their lives. Across its operating companies, IGM Financial builds financial confidence by sharing expertise and relevant news, tools and resources with financial advisors, clients and communities.

For instance, through the work of its subsidiary IG Wealth Management advisors, national partnerships, community seminars, events and educational materials, the IG Empower Your Tomorrow program aims to remove barriers to financial well-being among four traditionally underserved groups: Indigenous Peoples, through partnerships with organizations such as Prosper Canada and SEED Winnipeg which provide financial education and money management training; newcomers to Canada, by working with the Immigrant and Refugee Community Organization of Manitoba (IRCOM) to provide financial education in newcomers’ first language; Seniors, by offering financial planning workshops and webinars designed to guide seniors through financial considerations; and Youth, through its partnerships with CFEE and Dyslexia Canada’s Mark It Read national campaign.

Over 20,000 people attended IG Wealth Management webinars in 2022 on a wide range of topics, which included financial literacy, market volatility and inflation, and retirement and estate planning.

Power Corporation supports Windmill Microlending, Canada’s only national charity offering affordable loans to skilled immigrants and refugees that strives to ensure skilled newcomers are equitably integrated into the workforce while contributing their expertise to Canada’s economic and social success. The organization’s microloans help pay for the costs of accreditation, training and career development. In addition to the loans, the organization also offers client success coaching, a mentorship program, financial planning and budgeting tools, and career development resources.   

SDG 11

SDG 11

Target 11.6: Reduce the adverse per capita environmental impact of cities, including by paying special attention to air quality and municipal and other waste management

Greener Real Estate

Through its membership with the Green Building Council, Great-West Lifeco supports initiatives to increase the adoption of green building practices, participation in green building certification systems, and incentives to increase energy and carbon efficiency investments.

GWL Realty Advisors, Canada Life’s wholly owned real estate management subsidiary, manages all their corporate head offices and investment properties. Every five years, GWL Realty Advisors’ office properties set targets to reduce their utility consumption through its Sustainability Benchmarking and Conservation Program. Their offices remain on track to meet or exceed reduction targets set through the program. GWL Realty Advisors reported that since the program was initially introduced in 2013, it reduced GHG emissions intensity by 28%, energy intensity by 20%, water intensity by 32%, and waste to landfill by 10%. 

As of 2022, 86% of GWL Realty Advisors’ eligible managed portfolio had green building certifications. All of Canada Life's head office properties have proudly achieved gold-level LEED and/or BOMA certifications.

Canada Life also provided support to the FortWhyte Farms, Growing Youth, Food and Community, FortWhyte Alive which bridges communities, creates learning and employment opportunities for youth, and grows healthy food for our community. The program engages marginalized youth in innovative, sustainable urban agriculture projects. The hands-on training in sustainable urban-based agriculture, helps them develop practical skills, giving them access to new and improved sources of income and a sense of hope, purpose and self-reliance.

Other organizations supported by Canada Life include the ReForest London which enhances environmental and human health by inspiring, educating and empowering Londoners to plant and care for trees and to be part of a sustainability-focused future. In addition to its ongoing support of ReForest programs, Canada Life’s recent capital contribution will support the city’s first environmental centre, driving sustainability in our community. Located next to London’s largest environmentally significant area, Westminster Ponds Centre will bring together organizations focused on climate action to create sustainable communities and economies through programming, services and education. It will also provide the environmental sector with a common home, facilitating collaboration toward our shared vision of a greener, more sustainable city.

Power Sustainable, through its platform Power Sustainable Energy Infrastructure, holds a controlling interest in LMPG, an internationally recognized designer, developer, and manufacturer of a wide range of high-performance and sustainable specification-grade LED solutions for commercial, institutional, and urban environments. 

SDG 12

SDG 12

Target 12.5: Reduce waste generation through prevention, reduction, recycling and reuse
Target 12.6: Encourage companies to adopt sustainable practices and to integrate sustainability information into their reporting cycle
Target 12.7: Promote public procurement practices that are sustainable, in accordance with national policies and priorities


As long-term investors, we believe in investing in quality companies with attractive long-term growth prospects that are managed in a responsible manner. We integrate ESG factors in our investment analysis, which is helping encourage more sustainable consumption and production patterns at the companies where we invest. In addition, all of the Corporation’s publicly traded operating companies and alternative asset investment platforms are signatories of the Principles for Responsible Investment, either directly or through their operating companies. Great-West Lifeco, IGM Financial and GBL, as well as several of their own portfolio companies, are also supporters of the Task Force on Climate-Related Financial Disclosures (TCFD).

IG Wealth Management and Mackenzie Investments are also members of the Responsible Investment Association.


We work collaboratively with our third parties to extend our responsible management philosophy through our Third Party Code of Conduct, and to encourage more sustainable products and services. In 2022 and in 2023, as part of our continuous Third Party Code deployment, we reached out to new key suppliers, consultants, advisors and other business partners, asking them to confirm their compliance to the requirements of our Code. By engaging with suppliers and contractors, we have been able to source more environmentally friendly products, including renewable natural gas, among others, to reduce our GHG emissions. 

In its Canadian operations, Great-West Lifeco specifically engages its critical suppliers to understand the products and services that could reduce the environmental footprint of its buildings, operations, and processes. Supplier evaluation and its Supplier Risk Management Policy includes sustainability, including climate change, as one of its considerations. This includes suppliers that support the company in improving the sustainability of its real estate assets, as well as other products and services that enable them to reduce energy, water, and material consumption (e.g. building equipment retrofits, utility providers, data centre optimization, LED lighting, paper, and building materials). Working collaboratively with these suppliers enables Great-West Lifeco to meet its green building certification targets and its GHG Scope 1 and 2 reduction target for Canadian properties. Great-West Lifeco is also a member of the Forest Stewardship Council (FSC) and has committed to using responsibly sourced paper and other forest products that meet the FSC's strict environmental and social standards. In addition, in 2022, Great West Lifeco’s subsidiary GWL Realty Advisors updated its national sustainability policies, including those focused on energy, water, waste, and purchasing in order to further these efforts.

IGM Financial’s Supplier Code of Conduct was put in place to address environmental and social risks in its supply chain and set out expectations for its suppliers. It includes provisions related to human rights and labour practices, and to improving environmental performance. They include ESG questions in all supplier RFPs to ensure alignment with their approach to sustainability. The company continually seeks opportunities to reduce its environmental footprint by managing direct impacts from its operations, including its paper use. Employee green committees are drivers of many initiatives to reduce paper, waste and energy consumption. These volunteers raise awareness and engagement around the importance of adopting environmentally responsible practices at work, at home and in the community.  


Great-West Lifeco’s subsidiary Irish Life Investment Managers engages with its portfolio companies regarding climate, including to encourage better climate-related disclosure practices among investees. For instance, as part of the CDP Non-Disclosure Campaign, which aims to drive further corporate transparency around climate change, Irish Life Investment Managers co-signed 847 climate change engagement letters in 2022, up from 810 in 2021.

Similarly, IGM Financial’s subsidiary Mackenzie Investments conducts targeted climate-related engagement at investees with increased climate-related risks to encourage them to commit to and put in place a science-based transition plan to reach net zero by 2050 or before, and to disclose that plan. Since Mackenzie’s initial engagements, 11 of their portfolio companies have announced 13 new medium-term GHG reduction targets and/ or net zero targets by 2050; five companies have announced new or expanded climate disclosures in line with TCFD recommendations; and three companies have newly committed to science-based targets.


The teams from eight GWL Realty Advisors’ properties across Toronto have partnered with an outside service, Electrobac, to make e-waste diversion accessible to their building occupants. Electrobac is a Canadian company that supports the circular economy by increasing accessibility to proper e-waste collection, reuse, recycling, and disposal. In 2022, Electrobac collected 7,650 end-of-life or unwanted electronics from GWLRA properties, or 1,319 pounds of e-waste. Diverting these electronics from landfill avoids adverse environmental effects, including the leaching of toxic chemicals that would occur when buried in a standard landfill. In addition, in 2022, Canada Life’s corporate offices recycled 44 tonnes of cardboard, 22 tonnes of organics (compost), 1,047 tonnes of paper and 22 tonnes of other recyclables.

SDG 13

SDG 13

Target 13.3: Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning


As a group, we are committed to playing our part in accelerating climate action and finding suitable financial solutions. From an investment standpoint, we are helping finance cleaner and renewable energy projects through Power Sustainable and Great-West Lifeco. Despite our limited environmental impact as a holding company, we make every effort to conserve resources, improve energy efficiency, and manage waste effectively.

Together with our major publicly traded operating companies, we continue to reduce our GHG emissions. 2023 marked Power Corporation’s twelfth year responding to the CDP climate change questionnaire. In 2022, Power Corporation received a score of A- (Leadership) from the CDP, the same score received by its publicly traded operating companies, Great-West Lifeco, IGM Financial and Groupe Bruxelles Lambert (GBL).

As a global financial institution, Great-West Lifeco understands that its largest opportunity to address climate change stems from the activities they enable through loans, investments and insurance underwriting. In 2021, Great-West Lifeco committed to achieving net zero greenhouse gas emissions well before 2050 for its operations and by 2050 for financed emissions. 

For its part, the IGM Financial group of companies announced in 2021 their climate commitment to becoming carbon neutral and supporting the transition to net zero. These commitments include investing toward a greener, climate resilient economy, collaborating and engaging to help share the global transition, and demonstrating alignment through corporate actions.

In 2022, IGM Financial's subsidiary Mackenzie Investments joined the Net Zero Asset Managers initiative (NZAM) and published its 2030 interim targets.

In addition, in January 2022, GBL became the first investment holding company to have climate targets aligned with a 1.5°C pathway approved by Science Based Targets initiative (SBTi) for both its own operations and its eligible portfolio of participations. In 2022, 44% of the eligible portfolio had a climate strategy with targets aligned to a 1.5 C trajectory validated by SBTi, compared to 0% in 2020.


To help the financial sector stand as a confident ally in the fight against climate change, the IGM Financial group of companies are engaging in regulatory and policy dialogue, and collaborating to advance science-based approaches, data and tools. Recent initiatives include joining the Partnership for Carbon Accounting Financials and participating in consultations about the Canadian Securities Administrators’, the Securities and Exchange Commission’s and the International Sustainability Standards Board’s standardized climate reporting. In addition, IGM Financial’s subsidiaries IG Wealth Management and Mackenzie Investments are founding signatories to the Canadian Investor Statement on Climate Change, calling for increased accountability in the private sector, and members of Climate Action 100+, an investor-led initiative to ensure the world’s largest corporate emitters take action on climate change.

In 2022, IG Wealth Management sent a formal letter to sub-advisors encouraging them to join the Net Zero Asset Managers initiative (NZAM), Taskforce on Climate-Related Financial Disclosure (TCFD) and Climate Action 100+. The letters were followed by meetings with the sub-advisors to discuss their climate action commitments and strategies.

As for Great-West Lifeco, it engages with the International Institute for Sustainable Development (IISD) which performs coordinated research, provides advice and develops policy based on climate change. In 2022, Great-West Lifeco’s support of their work on climate adaptation helped provide solutions to achieve a stable climate, sustainable resources and fair economies, with a focus on driving action on risk management and climate adaptation in Canada.

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