The Co-operators announced yesterday that it has been awarded an Excellence in Governance Award in the category of Best Practices in Sustainability and Environmental, Social and Governance (ESG) issues by the Governance Professionals of Canada.
According to a release, the company “was recognized for its progress in embedding sustainability and ESG considerations into every aspect of its business”. The company’s various initiatives, such as the introduction of sustainable products and services, efforts to reduce its carbon footprint, and maintaining employee engagement on sustainability, were considered during the judging.
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“As a co-operative, our governance structure is different from that of most other companies. It encourages dialogue, participation and democratic decision-making, and is accountable to our 43 member organizations,” said The Co-operators president and CEO Kathy Bardswick. “The support and engagement of our members, and in particular our board of directors, has been instrumental to the success we’ve had in transforming our organization into one that is recognized as a leader in sustainability.”
The company’s board of directors has notably implemented “green meetings”, which encourage reduction of air travel. The Co-operators has also developed a standing board committee that oversees and advises on the development and implementation of the group’s long-term sustainability goals.
Nominees for the award have been judged by a jury panel of corporate governance experts. The jury considered the “board’s responsibilities for the company’s sustainability policies and strategies as well as its role in designing processes that effectively addressed its own sustainability.”
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