ESG Policies
Our commitment to sustainability is underpinned by our Code of Business Conduct and Ethics, as well as by our various ESG policies. This set of policies reflects the core values that have guided, and continue to guide us in how we conduct our business.
Power Corporation’s key ESG and corporate policies, available on this page, apply to all directors, officers and employees of Power Corporation, including temporary, part-time, and contractual employees. Each director, officer and employee is provided with a copy of our various policies and procedures, which are available in French and English, Canada’s two official languages. In addition, our group companies are responsible for implementing their own ESG policies and procedures.
Awareness and Training
As part of our mandatory annual Code of Business Conduct and Ethics training sessions, we raise awareness about key ESG themes and educate all officers and employees on our key policies and procedures. The online training course contains testing to demonstrate understanding of the Code of Conduct and the other key policies of the Corporation, including the various mechanisms available to report concerns. At the end of the training, as part of our annual certification requirement, all are required to certify their compliance with our Code of Conduct and key corporate policies. In 2022, all of the Corporation’s directors, officers, and employees acknowledged compliance.
To maintain awareness, we also send our personnel periodic reminders of their duties and responsibilities under certain policies, for instance with regard to anti-corruption and cybersecurity.
Reporting Mechanisms
We maintain appropriate mechanisms for our stakeholders to report or raise concerns should they suspect or witness unethical or unlawful behaviour.
Mechanisms to report or raise concerns over unlawful or unethical behaviour are formalized through our Code of Business Conduct and Ethics, Third Party Code of Conduct and Accounting Complaints Handling Procedures. These documents outline the processes in place for directors, officers, employees and third parties to promptly report any suspected violation of our Codes and policies, or of any law, rule or regulation, including possible concerns regarding accounting, internal accounting controls or auditing matters.
Additional reporting mechanisms are also described in other internal policies, such as our Global Anti-Bribery Policy and our Disclosure Policy, which provide for an obligation to report any suspected breach thereof. Our Respectful Workplace Policy also outlines the procedures and mechanisms that are available for anyone believing they have been subject to or have witnessed any behaviour which is contrary to the policy, including a reporting hotline and web portal operated by a third-party provider which is available 24 hours a day, 365 days a year.
The Vice-President and General Counsel is responsible for ensuring that the mechanisms for reporting concerns are made readily available and reports are appropriately reviewed, investigated, and addressed. Unless otherwise specified in a particular policy or procedure, concerns can be reported to the Vice-President and General Counsel.
All reports are taken seriously and treated with the utmost confidentiality and anonymity. We have processes in place to ensure reports are promptly investigated and addressed. The Corporation will not take any reprisal or retaliation measures, including any adverse employment measures, against any director, officer, employee and/or third party who in good faith brings forward actual or potential violations or other concerns.
Power's publicly traded operating companies have put in place similar processes for their stakeholders, including their clients, to report concerns, as defined in their respective codes of business conduct and ethics.
Monitoring and Review
Unless otherwise specified in a particular policy or procedure, the Vice-President and General Counsel, who reports directly to the CEO, is responsible for implementing, monitoring and reviewing the Corporation’s ESG-related policies and procedures.
Anti-Corruption
We have formalized our commitment to anti-corruption compliance by establishing an Anti-Bribery Policy Statement and corresponding Global Anti-Bribery Policy, which were approved by the Board of Directors. These documents articulate our zero-tolerance approach to corruption, set out our expectations with respect to anti-bribery, prohibiting our people from receiving, promising, giving, providing, or authorizing the provision of anything of value to obtain or retain business, an advantage, or favoured treatment from anyone. The prohibitions apply to dealings with individuals and corporate entities, public officials, candidates for public office, employees of state-owned enterprises, and any other person with whom we anticipate doing business.
We have also implemented an anti-corruption compliance program that includes training, due diligence of third parties and mandatory reporting, and ensure that all our personnel undergo the training program.