We recognize the important role we can play in advancing more sustainable business practices through the influence we have on our suppliers and business partners. Procurement decisions are taking a prominent role in the sustainability agenda, having become an important mechanism to create a greater impact on achieving environmental benefits.
The decisions we make on the procurement of products and services are based on our sustainability commitments and are aligned with organizations which share our values on this topic. Our commitment to green procurement focuses on integrating environmental considerations into our decision-making processes in a way that creates environmental benefits.
Steps Taken to Achieve our Objectives
We established a partnership with our paper suppliers to source only environmentally responsible paper. That means such paper has earned responsible forestry certification through the Sustainable Forestry Initiative (SFI) and/or the Forest Stewardship Council (FSC), and contains recycled content.
Non-Toxic Building Cleaning Products
We continue to work with our building managers to source sustainable products, including non-toxic cleaning products and building materials.
When sourcing Information Technology (IT) equipment, including computers, printers and computer networks, we work with suppliers to purchase equipment that is energy efficient. All of Power Financial's IT equipment is “Energy Star” certified.
We support local small- and medium-sized businesses by purchasing their products and services. For example, our local food catering service is encouraged to use only natural and pesticide-free ingredients, and to purchase local products.
Highlights from our Group Companies
As part of the process followed by Great-West Life when determining potential suppliers’ suitability to work with them, questions are asked about their strategy and activities related to the environment, sustainability and other facets of corporate social responsibility. When deemed applicable, suppliers must also agree to abide by the appropriate elements of their Code of Business Conduct and Ethics.
Imerys launched in 2016 its supplier governance, social and environmental standards, mainly based on the ten principles of the United Nations Global Compact initiative. So far, the group requested its suppliers of more than €2 million divisional spend to comply with the standards and will progressively evolve the compliance review along its supply chain.
IGM Financial looks for ways to increase the use of recycled paper and paper from responsibly managed forests; 100% of their office paper used in photocopiers and printers is from responsibly managed forests.