This is the first time that Canadian bank CEOs have faced formal government scrutiny on their role in fueling the climate crisis.
This year our engagements culminated in five shareholder proposals – at banks, oil & gas companies, and at a major financial holding company.
La Fonds fiduciaire de la famille Desmarais détient 51,3 % des droits de vote.
Desmarais Family Residuary Trust has 51.3% voting control
The proposal asking the company to fully report its scope 3 emissions received about 29% not voting with management.
A shareholder proposal seeking improved financial disclosure regarding the energy transition received about 11.5% support at today’s AGM.
Power uses its holding company status as an excuse rather than as an opportunity
Glossy ESG reports without clear metrics won’t cut it anymore
Strong vote means the Board must act to close governance gap
En tant que troisième investisseur dans les combustibles fossiles au Canada, les émissions non divulguées de Power Corporation sont un enjeu pour les investisseurs.
Power Corporation as the third largest investor in fossil fuels in Canada, yet its shareholders are in the dark about the transition risk this represents because the company does not practice comprehensive financed emissions disclosure, unlike a growing number of its peers in the financial sector.
A bank or a company says it’s serious about climate transition …