Power Corporation of Canada
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 70% 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 10379000 kg CO2e for Scope 1, 11036000 kg CO2e for Scope 2 (market-based), and a significant 70043000 kg CO2e for Scope 3 emissions. The Scope 3 emissions include 52597000 kg CO2e from investments and 9033000 kg CO2e from business travel. The total emissions for Scope 1 and 2 combined amounted to about 24376000 kg CO2e (location-based). Comparatively, in 2022, the company recorded Scope 1 emissions of about 12139000 kg CO2e, Scope 2 emissions of 11535000 kg CO2e (market-based), and Scope 3 emissions of approximately 67275000 kg CO2e. This indicates a slight reduction in Scope 1 emissions and a notable increase in Scope 3 emissions year-on-year. Power Corporation of Canada operates as a current subsidiary under the corporate family of Power Corporation of Canada, which influences its emissions data and climate commitments. However, there are currently no specific reduction targets or initiatives disclosed, such as those from the Science Based Targets initiative (SBTi). The company has not outlined any formal climate pledges or reduction initiatives in its recent reports. Overall, while Power Corporation of Canada has made strides in tracking its emissions, the absence of defined reduction targets suggests an opportunity for further commitment to climate action.
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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 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Power Corporation of Canada is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
