The Governance Professionals of Canada has given The Co-operators an Excellence in Governance Award in the category of Best Practices in Sustainability and Environmental, Social and Governance (ESG).
The insurer was recognized for the work it has done building sustainability and ESG considerations into every aspect of its business. This includes reducing its carbon footprint, and keeping employees involved and interested in sustainability. Sustainability and ESG have also become a part of the board of directors' key functions and they now hold "green meetings"; they have reduced their air travel and have started to measure and disclose the environmental effect of their sessions.
"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," says Kathy Bardswick, president and CEO of The Co-operators. "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."