Our CSR approach
We invest with conviction to achieve sustainability and to build a legacy for future generations. This principle underpins all our decisions and actions. Throughout the investment cycle, we strive to incorporate environmental, social and governance factors that are relevant for us.
We are also committed to finding sustainable solutions to reduce our carbon footprint and to increase our positive impact in the communities around us. These efforts include offering an outstanding work environment to our employees and making a commitment to the community.
Pioneering with sustainable financing
_ Unsecured green bond financing
Our commitment to sustainable solutions and investor appetite for environmentally friendly projects continue to grow apace. In December, we announced the completion of a green bond offering by the principal holder of our Canadian retail and office portfolio, Ivanhoé Cambridge II Inc. It was the first time a real estate corporation in Canada issued unsecured green bonds—in this instance, $300 million of five-year bonds for environmentally sustainable initiatives. The eligible green initiatives will be funded in accordance with the recently developed Ivanhoé Cambridge Green Bond Framework. As Chief Financial and Business Performance Officer Simon Lauzier explained, “This initiative is perfectly aligned with our CSR vision and our desire to find innovative ways to finance our activities in a sustainable way for generations to come.”
Providing an equal footing
_ Parity Certification from Women in Governance
Workplace diversity and inclusion continue to be a major priority at Ivanhoé Cambridge. To ensure that all employees have access to the same opportunities, we take a multipronged approach to leadership, advancement and recruitment. For the second year in a row, our efforts have been recognized: We have received Parity Certification from Women in Governance, a non-profit organization whose mission is to support Canadian businesses in their efforts to increase the number of women in senior management and other positions where they have historically been underrepresented.
We aim for a sustainable positive impact in the communities where we invest, and this recognition attests to our efforts to build spaces that improve quality of life.
Making it five in a row with GRESB
For the fifth consecutive year, we improved our score in the annual Global ESG Benchmark for Real Assets (GRESB), the leading system for assessing the sustainability performance of real estate companies and funds on the basis of environmental, social and governance (ESG) factors. The GRESB survey allows us to better understand where and how we can improve the ESG performance of our portfolio and help our partners do the same. Even though we are pleased with our score of 84 out of 100, which ranks us in the top 10 percent, we’re always looking to improve. Building a sustainable world is more important than ever.
Being part of the community
_ Giving Back Day
Each year, hundreds of our employees around the world spend a day helping local non-profits; they sort food at Welcome Hall Mission in Montreal, they repair furniture at Habitat for Humanity in Toronto or they pick up litter with The Green Earth in Hong Kong. We are part of the cities and communities where we operate, and they are part of us. Giving back is in our DNA!
“On Giving Back Day 2019, we spent time with the residents at Cardinal Gracias Home. The shelter currently provides vital medical assistance, food and a place to live to 85 women. We helped the nuns who manage the facility and distributed essentials, such as bedsheets and cooking oil. We also spoke with the residents, listening to stories about their families and life experiences. It was heartwarming to bear witness to the community the nuns have created. The visit made us realize just how much we have to be thankful for.”