Guelph, ON (June 9, 2016) – In a new report, The Co-operators is ranked #3 among the Best 50 Corporate Citizens in Canada by Corporate Knights. This marks the seventh consecutive year the organization has made the list in the top ten. It is joined this year by three other Canadian co-operatives.
The Co-operators commitment to being a good corporate citizen includes efforts to identify and address unmet societal needs. In 2015, it demonstrated this commitment when it became the first Canadian insurance company to offer overland flood insurance with the launch of its new Comprehensive Water product in Alberta.
This spring, The Co-operators announced its commitment to impact investing, establishing a target of 6 to 10 per cent of its invested assets to be classified as impact investments by the end of 2018. Further demonstrating its leadership in sustainability, as a signatory to the Montreal Carbon Pledge, the organization disclosed the carbon footprint of its equity portfolio and its investment firm, Addenda Capital, did likewise with its equity funds, becoming the first Canadian asset manager to do so.
“Addressing society’s economic, environmental and social priorities is at the heart of our sustainability efforts and stems ultimately from our co-operative principles,” said Kathy Bardswick, president and CEO of The Co-operators. “Being recognized as a leading corporate citizen alongside a number of other Canadian co-operatives speaks volumes about the contributions the co-operative sector makes to help create a resilient, more equitable society and economy.”
Corporate Knights is an organization dedicated to the promotion of responsible business practices and the advancement of social and environmental sustainability. To create its annual ranking, it assesses corporations’ performance based on 12 key performance indicators covering resource, employee and financial management.
For more information about The Co-operators sustainability performance, please see its sustainability report at cooperators.ca/sustainability_report.
Best Corporate Citizens in Canada
The 30 highest-ranked companies are shown below. To view the 2016 Best 50 Corporate Citizens in Canada report, please visit corporateknights.com.
|Rank||Company Name||GICS Industry Group||Overall Score|
|1||Vancouver City Savings Credit Union||Banks||70%|
|2||WestJet Airlines Ltd||Airlines||64%|
|5||Enbridge Inc||Oil, Gas & Consumable Fuels||62%|
|6||Cameco Corp||Oil, Gas & Consumable Fuels||62%|
|7||Mouvement des Caisses Desjardins||Banks||62%|
|8||Transat AT Inc||Airlines||62%|
|9||Sun Life Financial Inc||Insurance||61%|
|10||Teck Resources Ltd||Metals & Mining||61%|
|12||Cenovus Energy Inc||Oil, Gas & Consumable Fuels||60%|
|13||Bank of Montreal||Banks||60%|
|14||Royal Bank of Canada||Banks||60%|
|15||WSP Global Inc||Construction & Engineering||58%|
|17||Mountain Equipment Co-op||Textiles, Apparel & Luxury Goods||57%|
|18||TELUS Corp||Diversified Telecommunication||57%|
|19||Celestica Inc||Electronic Equip., Instruments||57%|
|20||TransCanada Corp||Oil, Gas & Consumable Fuels||56%|
|21||IGM Financial Inc||Capital Markets||55%|
|22||Kinross Gold Corp||Metals & Mining||55%|
|23||HSBC Bank Canada||Banks||54%|
|24||Bombardier Inc||Aerospace & Defense||54%|
|25||Tim Hortons Inc||Hotels Restaurants & Leisure||53%|
|26||Hydro One Inc.||Electric Utilities||53%|
|27||Agnico Eagle Mines Ltd||Metals & Mining||53%|
|28||Canadian Imperial Bank of Commerce||Banks||52%|
|29||Imperial Oil Ltd||Oil, Gas & Consumable Fuels||52%|
|30||Intact Financial Corp||Insurance||52%|
About The Co-operators
The Co-operators Group Limited is a Canadian co-operative with more than $40 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. It is ranked #3 on Corporate Knights’ Best 50 Corporate Citizens in Canada list, included among the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean’s magazine, and the 50 Best Employers in Canada by Aon Hewitt. For more information visit www.cooperators.ca.
About Corporate Knights
Corporate Knights is a media and research firm based in Toronto, Canada. Corporate Knights’ mission is to accelerate the transition to long-term sustainable capitalism by helping companies and investors to quantify and optimize their sustainability impact. For more information about Corporate Knights, please visit www.corporateknights.com.