2024 ESG disclosures: Desjardins is actively supporting a just and sustainable climate transition Français
"At Desjardins, we believe that financial activities should drive positive change. These two reports outline our determination to be transparent and ambitious in our efforts to address today's most pressing challenges. We remain committed to educating our members and clients about ESG issues and to offering solutions that reflect their needs and enable them to become financially empowered," said Guy Cormier, President and CEO of Desjardins Group.
Environmental
Desjardins continues to work toward the climate ambition it set in 2021, which includes achieving net zero emissions by 2040 for its operations and financial activities in sectors that are key to the climate transition, such as energy, transportation and real estate. The organization has also set intermediate targets to promote the development of renewable energy sources.
Highlights:
Successfully built a $2 billion investment portfolio dedicated to renewable energy infrastructure before the target date of year-end 2025.
Provided more than $6 billion in financing to support energy transition and renewable energy projects since 2020. As at December 31, 2024, renewable energy accounted for 69% of Desjardins's energy sector banking portfolio.
Issued €500 million in sustainable bonds on the European market, which will enable Desjardins to finance climate-related and environmental projects.
More than 2,000 Desjardins employees have participated in Climate Fresk since 2022, and in doing so they have actively strengthened the financial cooperative's internal culture on climate issues.
Social
Social considerations remain central to Desjardins's priorities, as demonstrated by new targets and projects that promise to have positive social benefits.
Highlights:
Published new diversity targets to achieve more equitable representation throughout the organization.
Set up a number of initiatives to support businesses led by women and Indigenous people.
Continued to support affordable housing by collaborating with key partners and various levels of government. At the end of 2024, seven housing projects with a total of 1,182 units had been completed and another 12 housing projects with a total of 780 units were under construction.
Governance
To support sound governance and continuous improvement, Desjardins officially separated the duties of the Chair of the Board and the President and CEO. This decision reflects the best practices applicable to the financial sector.
Remaining true to the values it has held for 125 years, Desjardins is committed to setting ambitious targets to create a more sustainable, supportive and compassionate future for generations to come.
For more information, see Desjardins Group's ESG reports on Desjardins.com.
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