Case study: How Desjardins identifies and works on strategic business opportunities to increase positive and reduce negative impacts

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Following the materiality analysis conducted in 2017 on its sustainable development priorities, Desjardins surveyed its members in 2024, with most (73%) indicating that sustainable development is important to them. Over recent years, Desjardins has carried out additional polls of its personal and business members and clients to better understand their priorities and concerns related to sustainability and responsible finance. These surveys have provided further insights into how well Canadians comprehend sustainable development and responsible finance.

Surveying stakeholders has helped Desjardins identify what matters most to its members and clients. These priorities are addressed in the “Listening to Our Stakeholders” section of Desjardins’ Social and Cooperative Responsibility Report. Desjardins collaborates with all levels of government, regulators, and other standard-setting organizations on various issues, also covered in the same section of the report.

Through numerous partnerships, Desjardins is dedicated to supporting communities in making the energy transition and taking action against climate change and biodiversity loss. These partnerships facilitate university research and training, promote the development of practical solutions for economic actors, and foster climate education and engagement. For more information, please see the diagram of Desjardins’ environmental and climate action partners.

Desjardins also participates in several working groups established by UNEP FI to support the implementation of the Principles for Responsible Banking (PRB), the Principles for Sustainable Insurance (PSI), and the Commitment to Financial Health and Inclusion. These groups provide opportunities to collaborate and advance initiatives addressing ESG issues with other financial institutions worldwide.

Additionally, Desjardins is a member of the Climate Montreal Partnership (in French only), a coalition of nearly 100 Montreal-based economic, philanthropic, institutional, and environmental stakeholders working together to accelerate Montreal’s decarbonization and build climate resilience within the timelines required by climate science. It is also part of the Quebec Climate Partnership’s engagement committee (in French only), which aims to mobilize the people and driving forces of Quebec City’s economy. As an ambassador supporting climate action in Quebec City, Desjardins contributes to setting priorities for action and plans to participate in future climate action summits in the province’s capital.

How did Desjardins identify and work on strategic business opportunities to increase positive and reduce negative impacts?

In its 2024 PRB Reporting and Self-Assessment Template Desjardins reports that it identified and worked on strategic business opportunities to increase positive and reduce negative impacts as follows:

Desjardins aims to contribute to the energy transition for society through various initiatives: developing responsible finance products, engaging shareholders, investing in and financing renewable energy projects, supporting university programs that train skilled workers—particularly in responsible finance and the circular economy—and strengthening electric transportation infrastructure by adding charging stations in communities across Quebec and Ontario.

For an overview of Desjardins’ approach and the ESG products offered to members and clients, please refer to the Climate-Related Opportunities section of the Climate Action at Desjardins report. This report also highlights business opportunities associated with climate change.

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

FBRH Principles for Responsible Banking (PRB) Assurance:

First class PRB assurance services: The result of solid, hands-on ESG/ Sustainability experience

• • • FBRH is a GRI Certified Training Partner (Global), ISEP Training Centre and a member of CPD.
    • FBRH builds trust. Over 200 reviews from top professionals from around the world demonstrate our ability to build strong, trusting business relationships.
    • FBRH possesses a unique skill set that combines ESG/sustainability certified training, experience in advisory services and report preparation, and ESG/sustainability report assurance.

The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

References:

This case study is based on published information by Desjardins, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.desjardins.com/content/dam/pdf/en/about-us/community/sustainable-development/reports/2024-principles-responsible-banking.pdf

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