Power Corporation of Canada Sustainability Profile
Power Corporation of Canada, often referred to as Power Corp, is a leading diversified management and holding company headquartered in Montreal, Quebec. Established in 1925, the company has evolved significantly, focusing on financial services, asset management, and sustainable investments across Canada and internationally. With a strong presence in North America and Europe, Power Corporation operates through its subsidiaries, including Great-West Lifeco and IGM Financial, offering unique products and services in insurance, investment management, and retirement solutions. The company is recognised for its commitment to innovation and responsible investing, positioning itself as a key player in the financial services industry. Power Corporation's notable achievements include a robust market position and a reputation for delivering long-term value to its stakeholders, making it a trusted name in the financial landscape.
DitchCarbon Score
How does Power Corporation of Canada's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Power Corporation of Canada's score of 46 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Power Corporation of Canada's reported carbon emissions
In 2023, Power Corporation of Canada reported total carbon emissions of approximately 10379,000 kg CO2e for Scope 1, 11036,000 kg CO2e for Scope 2 (market-based), and 70043,000 kg CO2e for Scope 3 emissions. The total emissions for Scope 1 and 2 combined, based on location, amounted to about 24376,000 kg CO2e. Comparatively, in 2022, the company recorded Scope 1 emissions of about 12139,000 kg CO2e, Scope 2 emissions of approximately 11535,000 kg CO2e (market-based), and Scope 3 emissions of around 67275,000 kg CO2e. The total for Scope 1 and 2 (location-based) was about 27257,000 kg CO2e. The data indicates a significant reliance on Scope 3 emissions, which include investments and business travel, highlighting the broader impact of their operations. Notably, emissions data is cascaded from the parent company, Power Corporation of Canada, reflecting a corporate family relationship. Currently, Power Corporation of Canada has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to initiatives such as the Science Based Targets initiative (SBTi). This context suggests a need for enhanced climate commitments to align with industry standards and expectations.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 9,994,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 1,455,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 69,367,000 | 00,000,000 | 00,000,000 | 00,000,000 |
How Carbon Intensive is Power Corporation of Canada's Industry?
How Carbon Intensive is Power Corporation of Canada's Location?
Power Corporation of Canada's Scope 3 Categories Breakdown
Power Corporation of Canada's Scope 3 emissions, which increased by 4% last year and increased by approximately 1% since 2020, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 77% of total emissions under the GHG Protocol, with "Investments" being the largest emissions source at 75% of Scope 3 emissions.
Top Scope 3 Categories
Power Corporation of Canada's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Power Corporation of Canada has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
