The Co-operators Ranked No. 2 Among Canada's Best 50 Corporate Citizens
Jun 22, 2010
GUELPH, ON, June 22 /CNW/ - The Co-operators Group Ltd. has been ranked No. 2 among the 50 Best Corporate Citizens in Canada by Corporate Knights, an organization that promotes socially responsible entrepreneurship. The list, which was announced today, is based on an evaluation of environment, social and governance indicators.
The Co-operators Group Ltd., a 100 per cent Canadian-owned co-operative, is well known for its community involvement and commitment to sustainability. As a co-operative, it adheres to the international principles, which include democratic member control and concern for community.
"The fact that the top three organizations on the 50 Best Corporate Citizens list are all co-operatives suggests that co-ops are living up to our principles and making a real contribution to the economy and Canadian society," said Kathy Bardswick, President and CEO of The Co-operators. "More and more, people are considering the track record of a company, rather than just the product and price, when deciding whom to do business with. Studies like this one provide valuable information that can help them make informed decisions."
Among the criteria used by Corporate Knights were the health and quality of an employer's pension plan, the diversity of it board of directors and senior management, executive compensation, board independence, and board-level oversight of sustainability issues. These factors and others were considered along with dozens of sector-specific key performance indicators the fall under three categories: environment, social and governance.
The Co-operators formally adopted a sustainability policy and strategy for the group of companies in 2007. Since that time, it has made its operations more environmentally-friendly, introduced products and services aimed at promoting sustainability, and supported the sustainability efforts of many partner organizations and individuals. The Co-operators has 5,100 staff members and 487 exclusive agents in communities throughout Canada.
About The Co-operators:
The Co-operators Group Limited is a 100 per cent Canadian-owned co-operative with more than $36.9 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is owned by 47 Canadian co-operatives, credit union centrals and like-minded organizations. It is well known for its community involvement, and is listed among the 50 Best Employers in Canada.
For further information: Leonard Sharman, The Co-operators, 1-877-795-7272, ext. 2707