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.
In 2017, knowing that they can play an important role in encouraging the use of sustainable materials through its procurement processes with third parties, GWL Realty Advisors, one of Great-West Life’s subsidiaries worked with more than 50 third parties, many of whom are providing sustainable materials which contribute to meeting its green building certifications.
IGM Financial is determined to extending its environmental, social, and governance commitments to its purchasing decisions. The standards of business conduct detailed in its Supplier Code of Conduct set the bar for the companies with which they do business and their extended supply chain. Through its Code, IGM Financial communicates its principles regarding conduct relating to business dealings, protection of corporate information, labour and human rights, and the environment.
Imerys launched in 2016 its supplier governance, social and environmental standards, mainly based on the ten principles of the United Nations Global Compact. Starting from its suppliers of more than €2 million spent at the divisional level, Imerys requested formal confirmation of compliance with the standards. At the end of 2017 these standards had been communicated to over 150 suppliers, of which 70 per cent have formally acknowledged receipt and confirmed compliance with, 25 per cent have provided comparable codes of conduct and the remaining have been assessed internally as presenting very low risk of non-compliance with Imerys’ code.
IGM Financial looks for ways to increase the use of recycled paper and paper from responsibly managed forests; 100 per cent of their office paper used in photocopiers and printers is from responsibly managed forests.