2024-2025 highlights and objectives

All directors, officers and employees of the Corporation acknowledged compliance with the Code of Business Conduct and Ethics and the Corporation's key corporate policies in 2024.

In 2024, no breaches to the Code of Business Conduct and Ethics and no violations related to corruption and bribery were identified or reported.

We published our 2023 ESG Data Tables, including our governance data table. 

We continued the deployment of our Third Party Code of Conduct with our key suppliers, consultants and business partners. While this is a continuous process, to date, the vast majority of them have attested their compliance to the requirements of our Code. 

As signatory of the UNGC, we responded to the UNGC’s 2024 Communication on Progress questionnaire, making this our ninth Communication on Progress.

We continued to report and engage with a number of ESG rating organizations.

We maintained listing status on the FTSE4Good Global Index in July 2024.

Following the 2024 Annual Meeting of Shareholders, the percentage of women on the Board increased to 36%, meeting our objective of 30% women representation by 2025 ahead of time. 

We continued to meet regularly with our group companies to share knowledge, gain a proper understanding of how their management teams manage sustainability, and to align on some sustainability initiatives.

Continue to enhance our sustainability disclosure and engage with stakeholders regarding sustainability matters. 

Pursue the continuous deployment of our Third Party Code of Conduct, including by formally reiterating the importance of this process amongst our employees.

Continue to engage with our group companies and to share knowledge on sustainability initiatives through regular group company meetings to ensure progress on different fronts.

We continued to engage with our group companies on sustainability matters through our active ownership approach.

We held our annual Power group conference on sustainability, which in 2024 focused on Canadian Bill C-59 and greenwashing, as well as the impact that artificial intelligence and geopolitics is having on sustainability.

Continue to integrate sustainability considerations into decision-making through our active ownership approach.

Continue to share knowledge and best practices with our group companies on sustainability factors.

We engaged with our group companies on available employee-related data.

We conducted Power Corporation’s annual diversity self-identification exercise.

We offered unconscious bias training to employees of the Corporation.

We disclosed Power group consolidated employee-related data as of December 31, 2023.

Continue to work towards formalizing employee-related data compilation process across Power's group companies with a view to enhance our ESG Data Tables with additional employee-related data.

We maintained initiatives aimed at reducing our environmental footprint such as the procurement of renewable natural gas in buildings owned or managed by the Corporation, and the public transit pass reimbursement program.

For a thirteenth consecutive year, we responded to the CDP Climate Change questionnaire using a financial control approach. Power received a score of A- (Leadership) from the CDP for its response to the 2024 questionnaire.

We helped finance sustainable business models and renewable energy infrastructure assets through our alternative asset investment platforms.

We purchased carbon credits to offset the Corporation's 2023 scope 1 and 2 GHG emissions at the holding level.

Effectively manage and work to further reduce the Corporation's environmental footprint and improve our performance in the area. 

Continue to enhance our GHG emissions calculation practices and disclosure.

Power Corporation and its group companies employed approximately 40,400 individuals, and paid out $6.4 billion in salaries and other employee benefits, as well as $4.4 billion in goods and services, and taxes paid to various levels of government. 

$50 million of charitable contributions were made in the communities in which we operate. 

Continue to explore potential measures to better quantify Power Corporation’s and its group of companies’ economic value added.

Continue to make a positive contribution to the communities where we are established.