Over the past few years, we, at Power Financial and at our group companies, have multiplied our efforts to strengthen our corporate social responsibility programs and initiatives, which are fundamental to our business success.
We are proud to see our efforts, as well as those of our subsidiaries, being recognized by a number of highly respected organizations.
The CDP works with investors, companies and cities on taking urgent action to build a truly sustainable economy by measuring and understanding their environmental impact.
Power Financial and Power Corporation have been responding to the CDP Climate Change Program for the past seven years and support the organization’s endeavours to increase transparency and disclosure on climate change governance, risks and opportunities, management and performance. In 2018, both Power Financial and Power Corporation obtained a score of A (Leadership), making it on the CDP A List, along with 125 other companies worldwide.
Responding to the CDP for the sixth consecutive year, our subsidiary IGM Financial also obtained a score of A (Leadership) for their response to the 2018 CDP questionnaire, earning a spot on the A List and ranking in the top five financial services companies in Canada for the fifth year in a row.
Great-West Lifeco participated in the annual CDP Climate Change program for the sixth consecutive year. In 2018, Great-West Lifeco received an A- (Leadership) ranking from the CDP, being the highest ranked Canadian insurance company on the CDP’s annual list.
Among the 2018 CDP respondents in the financial services sector, four of the five top ranked Canadian companies were members of the Power Corporation group.
Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
Power Financial and Power Corporation were added to the FTSE4Good Global Index, effective December 19, 2016. IGM Financial was added to the FTSE4Good Index Series in June 2016. All three companies were reconfirmed on the Index in 2017 and 2018.
Imagine Canada is national program promoting corporate and public giving, volunteering, and support in the community, and calls for corporations to contribute a target of 1 per cent of pre-tax domestic profit to charitable causes.
A member of the program since 1989, our parent company Power Corporation has consistently exceeded its minimum donation guideline and has consequently been designated a “Caring Company” by Imagine Canada.
Our subsidiaries Great-West Life, London Life, Canada Life, Investors Group and Mackenzie Investments have also received the “Caring Company” designation in recognition for their generous contribution to their communities.
In 2017, all of Great-West Lifeco’s Canadian corporate head offices were BOMA BEST® certified and targeting Gold level upon re-certification in 2018. Throughout the year, GWL Realty Advisors continued to pursue its target of achieving green building certifications for all eligible properties. To date, 89 per cent of its eligible commercial portfolio by floor area is BOMA BEST® or LEED® certified, covering over 300 buildings across Canada.
It was also recognized at both national and regional levels for its sustainability-focused property management practices. In 2017, six awards were presented to properties managed by GWL Realty Advisors, relating to sustainability, staff, and operational excellence. Great-West Life’s head office in Winnipeg won BOMA Manitoba’s The Outstanding Building of the Year (TOBY) award, recognizing excellence in building management and a strong commitment to energy conservation and environmental sustainability.
In 2018, Investors Group's Investors Québec Enterprise Fund received the #8 ranking in the Canadian equity fund category of the Corporate Knights Better World Fund Ranking. Corporate Knights is a Toronto-based media and investment advisory company that promotes an economic system that reflects social, economic and ecological costs and benefits. The ratings help Canadian investors to see which funds provide the best combination of economic and environmental performance.
IGM Financial was ranked 10th in the 2018 Best 50 Corporate Citizens in Canada by Corporate Knights. The ranking acknowledges the work the company continues to undertake to be more public about its commitment and initiatives to advance its corporate responsibility practices.
Since 2015, IGM Financial is listed on the Jantzi Social Index (JSI), a leading Canadian sustainability index, and was rated as one of the top performing Canadian diversified financial services companies by global environmental, social and governance research firm Sustainalytics.
In 2018, GWL Realty Advisors has been recognized as a leader in sustainability by the Global Real Estate Sustainability Benchmark (GRESB), earning a “Green Star” ranking for the fourth consecutive year as well as a second consecutive GRESB “5star”. These recognitions reflect the company’s commitment to continuously evolving and improving its sustainability practices.
The GRESB Real Estate Assessment has placed GWL Realty Advisors among the top three participants in Canada and fourth overall (of 196 submissions) in the Global Diversified category. In addition to being recognized as a leader in the field, its score increased 16% from its first submission in 2015, moving the company to the top 7% worldwide in 2018.
In 2017 and 2018, Great-West Life was again named on the Forbes’ Canada’s Best Employers list. The ranking highlights 300 companies operating in Canada that have won the endorsement of their employees.
In 2018, Great-West Financial, one of Great-West Lifeco’s subsidiaries in the United States, was recognized as one of the Top 100 Innovators in Diversity and Inclusion by Mogul. Mogul highlighted that Great-West Financial celebrates diversity and inclusion through employee resources and mentorship and a flexible work-life balance for employees at all stages of their career. Mogul is a platform enabling women worldwide to connect, share information, and access knowledge from each other.