Co-operators has earned the highest ranking among insurers in Corporate Knights’ Best 50 Corporate Citizens ranking. This marks the 15th year that Co-operators has been recognized for its sustainability and corporate social responsibility.
The national recognition underscores the company’s leadership across environmental, social, and governance-related sustainability performance indicators. Co-operators ranked top among insurers globally, second in the financial sector globally, and third overall among firms in Canada.
The insurance and financial services cooperative bested other insurance companies in terms of its relative proportion of revenue, which was defined as sustainable revenue by Corporate Knights' Sustainable Economy Taxonomy. This was driven in part by Co-operators' $5.9 billion in impact and transition investments.
The award-giving body also recognized the Co-operators' high percentage of gender diversity in its executive leadership; its CEO-to-worker pay ratio; the existence of a sustainability link to executive compensation; and the number of paid sick leave days offered to its employees as indicators that the company has been committed to create positive and meaningful impact to society and the environment while maintaining profitability and productivity.
"This recognition amongst our peers is a reflection of our ongoing journey to embed sustainability and resilience into our business, and to act as a societal catalyst through our partnerships, products, services, and investments," said Rob Wesseling (pictured above), president and CEO of Co‑operators.
"This important work is a reflection of our cooperative values and our long-standing desire to support our communities. The pursuit of sustainability is also critical to our long-term financial strength and stability, ensuring we can meet our purpose of financial security for Canadians and our communities for generations to come."
Chad Park, vice president of sustainability and citizenship at Co‑operators, said, "At a time when challenges mount in our communities, from climate change to increasing affordability concerns in housing, cost of living, and more, it's increasingly critical that businesses, governments, and communities act to address short-term needs while considering the long-term impacts of our decisions.
"Sustainability is a whole of society undertaking because the complex challenges we face cannot be tackled alone. They require cooperation, commitment, and coordinated action. The Best 50 highlights those business leaders who are working together to build a more sustainable, resilient, and equitable Canada. We're honoured to be included.”
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