Responsible Management and Citizenship
We believe we must live up to our responsibilities, honour our commitments and be accountable to those we serve and to the communities in which we operate. For Power Financial and our subsidiaries, responsible management and citizenship are integral to our efforts to create long-term value for our shareholders and our stakeholders at large.
We invest in high-quality businesses and bring the approach of an active and committed owner and a long-term investor. The vast majority of our investments are in financial services companies. These companies represent a positive force in society by helping our clients achieve financial security through life and health insurance, retirement savings programs and a suite of investment vehicles, including socially responsible investment funds. By building unique relationships with clients, our companies are making a difference for millions of individuals and families in all age and income groups. Our group companies are committed to serving our customers at every stage of their lives. The breadth of our service offerings speaks to that commitment.
As long-term investors, we ensure our investments are managed consistent with our responsible management philosophy, including our Code of Business Conduct and Ethics, our CSR Statement and our commitment to the United Nations Global Compact (UNGC).
We welcomed the launch of the United Nations 17 Sustainable Development Goals (SDGs) in 2015. Inspired by both the SDGs and the UNGC principles, in this website we present tangible examples of the contribution our group of companies is making to advance social and economic progress.
Power Financial continues to strengthen its commitment to responsible management through various initiatives, including our engagement with our different stakeholders, as well as with CSR rating organizations.
Over the course of 2017, we:
Reviewed and updated our Code of Business Conduct and Ethics to provide greater clarity on our commitment to diversity, human rights and privacy. The revised Code was approved by our Board of Directors in March 2018.
Compiled consolidated governance and environmental data and prepared a comprehensive CSR data table that was added to this site;
Continued the deployment of our Third Party Code of Conduct with our key suppliers, consultants and business partners;
Responded to the CDP for a sixth consecutive year, receiving a score of A- (Leadership). We are proud to highlight that among the 2017 CDP respondents in the financial services sector, four of the six top ranked Canadian companies were members of the Power Corporation group;
Our environmental data included in our 2017 and 2018 CDP submissions was verified by PricewaterhouseCoopers;
Published our third Communication on Progress as part of our UNGC commitment, our second one at an “Advanced Level”, providing information on our management policies and procedures and on the alignment of our programs to the United Nations’ SDGs;
Maintained listing status on the FTSE4Good Global Index.
This CSR-dedicated microsite, which is a means of publicly documenting and disclosing our responsible management commitments, programs and performance. We strive to update it regularly and continue to enhance our disclosure, for instance by adding new relevant content. Throughout this website, you will see examples of how responsible management allows us to generate long-term value and sustainable growth.
We believe that strong communities are the underpinning of a successful, responsible business. For Power Financial, the bond between community and business is symbiotic and mutually advantageous; one cannot exist effectively without the other. We are driven to strengthen that relationship through our responsible management approach to the benefit of all of our stakeholders.