Ethical Funds obtains agreement from Intrawest on environment

Vancouver-based Intrawest Corporation has announced to Ethical Funds its intention to develop a company-wide environmental policy with attendant management and reporting systems. The action will allow Intrawest to improve its environmental performance and protect its brand. The announcement is the result of a shareholder proposal filed by Ethical Funds this past July, for inclusion on the agenda at Intrawest's November annual meeting.

“Environmental management systems (EMS) are crucial for improving environmental performance” says Robert Walker, Vice President, SRI Policy & Research. “The evidence shows that an EMS helps companies to enhance compliance, conserve resources, reduce risks and liabilities, and protect corporate reputation.”

Soon after filing the proposal, Ethical Funds met with Joe Houssain, CEO of Intrawest. At that meeting it soon became clear there was a meeting of minds on the need for Intrawest to establish an environmental policy. Ethical Funds agreed to withdraw the proposal in exchange for Intrawest's commitment to develop the policy and to seek further input from Ethical Funds on management systems and reporting. In addition, Intrawest has indicated that it will dialogue with Ethical Funds to discuss the impact of heli-skiing operations on Mountain Caribou, an endangered species. 

Intrawest is the leading developer and operator of village-centered resorts across North America, including Whistler Blackcomb and Panorama in British Columbia, Blue Moutain in Ontario, Mont Tremblant in Quebec, Stratton Mountain in Vermont, and Mammoth Mountain in California.

Ski resort operators across North America are facing growing opposition from environmental groups concerned about expansion into sensitive ecosystems. At Whistler Blackcomb, Intrawest has reacted appropriately, establishing annual targets for reducing greenhouse gas emissions, energy consumption, and waste. The company has also supported the town of Whistler's efforts to become North America's leading environmentally sustainable resort community.

This commitment to the environment is less apparent at Intrawest's other resorts. As a result, resorts owned by Intrawest have encountered controversy related to real estate development and resort expansion. Despite the existence of an environmental management system at Whistler Blackcomb, Intrawest has had no company-wide environmental policy and management system to form the aspirational and operational basis for the company's environmental commitment.

Ethical Funds anticipates this is about to change. With this new commitment from Intrawest, Ethical Funds has expressed hope that Intrawest will be able to replicate best practices across the continent, improve its environmental performance, and establish a clear reputation as North America's most environmentally responsible ski resort developer.