With a view to consolidating its position as a national leader in socially responsible development, Desjardins Group, the largest integrated financial cooperative in Canada, is please to unveil its new policy on sustainable development, confirming its commitment to upholding the main objectives of the Kyoto Protocol.

"Through its mission and its commitment to the community, Desjardins Group has always been a pioneer in sustainable development,  Two of the three aspects of sustainable development, namely economic and social development, have formed an integral part of our business culture from the beginning.  Our new policy on sustainable development formally integrates the third aspect which is environmental conservation.  Our commitment to the environement, which dates back approximately fifteen years, has now been consecrated as a fundamental strategic element for all our activities and components, " stated Mr. Alban D'Amours, President and CEO of Desjardins Group.

A Group-wide Commitment

This sustainable development policy is nothing new for Desjardins, which shares the values and principles of the International Co-operative Alliance, namely honesty, transparency, social responsibility and altruism, as well as a commitment to the sustainable development of communities based on orientations defined by cooperative members.

The new policy is intended to mobilize all the various Desjardins Group components in a continually evolving manner and to encourage them to assess the positive and negative impacts of all decisions on an economic, social and environmental level.

For example:

• Desjardins Group components will try to encourage the development of green technologies through all their financing and investment activities and include socially responsible criteria in their investment policies.

• Officers and employees of each component will be educated, through existing training programs, about the issues surrounding sustainable development and potential business opportunities that could result from growing concerns for environmental conservation.

• Desjardins will target the optimal use of renewable and non-renewable resources, specifically by reducing residual waste at source, further encouraging recycling and re-use, using low-energy equipment, reducing greenhouse gases and eliminating, wherever possible, the use of toxic materials.

• As a purchaser of goods and services, Desjardins will gradually favour the use of suppliers and sub-contractors who subscribe to the principles of sustainable development by keeping them informed of its expectations

• The cooperative institution will also make a point of promoting sustainable development elsewhere.  Each component with a sponsorships and donations policy will add a sustainable development category for projects or initiatives eligible for Desjardins support.

• In 2006, Desjardins will adopt a complete sustainable development action plan with specific objectives to be reached for each initiative put forward, as well as performance indicators to ensure the follow-up and success of its projects.  The cooperative financial institution has set itself a major objective as part of its new sustainable development policy, with the Desjardins Paper Challenge.  This involves reducing the quantity of paper consumed throughout the entire Group by 15% within three years, and increasing the use of recycled paper by 15% over the same period.

Sustainable Development-A Cooperative Value

The new policy reinforces Desjardins' commitment to a healthier environment.  The Group has signed on with the United Nations' UNEP Statement by Financial Institutions on the Environment and Sustainable Development.  It is also a member of the Canadian Executive Forum on Climate Change-which recently launched a call-to-action to Prime Minister Paul Martin-as well as the Comite consultif du Centre quebecois sure les changements climatiques.

In day-to-day practice, Desjardins and its employees already demonstrate their commitment to sustainable development in many ways, for example through the creation of environmental and ethical mutual funds, the adoption of environmentally friendly local development and credit policies, and improved travel management.  In fact, in order to limit the use of personal vehicles by employees traveling between the Group's two main location in Levis and Montreal, Desjardins has created a shuttle service and encouraged the use of videoconferencing.  The Group has also just adopted an automobile policy that encourages management staff to purchase more energy-efficient vehicles.  The policy includes financial incentives for the purchase of hybrid cars.

"With this new sustainable development policy, Desjardins takes a stand, within its field of activity, as an active player in favour of socially responsible development.  As a cooperative group, we embody values of solidarity.  These values mean that we are committed, along with all our employees, members and clients, as well as our suppliers, to the promotion and fulfillment of the three aspects of sustainable development.  It just makes sense, for our own well-being as well as that of future generations, " added Mr. D'Amours.

The new policy on sustainable development came into effect on October 12, 2005.  The Corporate Governance Commission of the Federation des caisses du Quebec Board of Directors is responsible for ensuring its follow-up and application.

For more information, visit Desjardins Adopts New Sustainable Development Policy. 

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