Our environmental responsibility

Our commitment to environmental responsibility is underpinned by the importance we place on preventing and minimizing the impact of our activities on the environment. Despite its limited environmental impact as a holding company, the Corporation recognizes its environmental responsibilities in its own operations, as well as through its investment process and procurement practices. Sound environmental practices and behaviours are entrenched in our approach to business activities; we remain committed to conducting our activities in an environmentally responsible manner by focusing on continuously improving our practices.

Our commitment

Our management approach to the environment is formalized through our Environmental Policy, which sets out our commitment to conduct our activities in an environmentally responsible manner and covers all environmental topics as relevant to the Corporation’s activities, investment process and procurement practices, complemented by our Responsible Procurement Policy. Our environmental commitments are reinforced by our Code of Business Conduct and Ethics and Corporate Sustainability Statement, and extended to third parties that work for/on our behalf through our Third Party Code of Conduct. 

Implementation

As a holding company, our direct environmental impact is limited to the operations of our head office, which has no production or manufacturing functions. Despite this limited impact, we monitor and track our performance regarding waste, water and energy, and we work diligently to reduce our environmental footprint. We have focused our environmental priorities on: 

In addition, as part of our mandatory annual Code of Business Conduct and Ethics training sessions, we raise awareness and educate all officers and employees of the Corporation on key sustainability themes, including environmental responsibility, with the training session also covering the Corporation’s Environmental Policy, Responsible Procurement Policy Statement, Corporate Sustainability Statement and Third-Party Code of Conduct, among others.

Monitoring

The Corporation's environmental management activities are overseen by the Vice-President, Administration and Human Resources, and the Vice-President and General Counsel.

Active ownership approach

As part of our long-term active ownership approach, we regularly engage with the senior management of our group companies regarding their respective strategies and initiatives, including on matters related to environmental management and climate. While we regularly engage with our group companies, the Corporation is not responsible for their day-to-day business and operations. As a result, Power's group companies are responsible for developing and implementing their own strategies, policies and programs specific to their unique circumstances, including in regards to environmental management and climate.