MONTRÉAL, March 7,
2024 /CNW/ - Laurentian Bank (the "Bank") is pleased
to announce the publication of its 2023 Environmental, Social, and
Governance (ESG) Report. The report showcases the Bank's ongoing
progress in supporting sustainable environmental, social, and
economic change by focusing on initiatives that make a meaningful
impact within its communities, establish trust with its customers,
inspire pride among its employees, and drive value for its
shareholders.
Over the past year, the Bank has delivered on a number of
notable accomplishments as part of its ESG strategy:
- Environment
As part of the Bank's commitment to
climate action, it reduced its Scope 1 & 2 GHG emissions by
30%. This marks significant progress against its target of a 35%
reduction by 2030, from a 2022 base year.
As part of the Bank's commitment to understanding and reporting on
the GHG impact of its lending activities, in this year's report the
Bank has calculated and is disclosing an estimate of its
residential mortgages financed emissions using the Partnership for
Carbon Accounting Financials (PCAF) methodology. This is in
addition to its estimated Corporate Real Estate Scope 3 financed
emissions, which it is disclosing for the second consecutive
year.
- Employee Experience
Laurentian Bank continues its
focus on enhancing the employee experience by building up and
fostering equity, diversity, and inclusion within its workplace,
and investing in new and enhanced initiatives, including the launch
of its fourth Employee Resource Group, supporting Newcomers to
Canada and their allies.
The Bank was proud to sign the Women in Capital Markets' Parental
Leave Pledge, allowing fathers, same-sex partners, and parents
adopting a child under one year of age to benefit from a top-up of
their salary paid by the Bank during their leave.
- Community and Economic Impact
As part of the Bank's
commitment to supporting the long-term and sustainable growth of
its Commercial customers, the Bank continues to partner with Quebec
Net Positive as part of its "SMEs in Transition" initiative,
assisting small and medium-sized enterprises (SMEs) in the
manufacturing sector and the supporting business ecosystem in
accelerating their transition to a low-carbon and net-positive
economy.
Through its "Giving Beyond Numbers" corporate philanthropy program
the Bank awarded almost $800,000
through charitable donations and employee giving to
community-based, national, and international non-profit
organizations and charities.
"We are proud to present Laurentian Bank's 2023 ESG Report,
which outlines the progress we have made on our ESG journey," said
Éric Provost, President and CEO. "I look forward to continuing the
momentum we have established as we deliver on our ESG strategy and
build up an inclusive and sustainable future at Laurentian
Bank"
The 2023 ESG Report is now available on Laurentian Bank's
website.
About Laurentian Bank
At Laurentian Bank, we believe we can change banking for the
better. By seeing beyond numbers.
Founded in Montréal in 1846, Laurentian Bank helps families,
businesses and communities thrive. Today, we have approximately
3,000 employees working together as one team, to provide a broad
range of financial services and advice-based solutions for
customers across Canada and
the United States. We protect,
manage and grow $48.1 billion in
balance sheet assets and $26.5 billion in assets under
administration.
We drive results by placing our customers first, making the
better choice, acting courageously, and believing everyone
belongs.
SOURCE Laurentian Bank of Canada