Corporate Social Responsibility Roadmap will reflect DEI, ESG investing and UN's SDGs.
Across Pro-Demnity we remain dedicated to being a responsible, just and sustainable contributor to society and to the communities we serve. As we work toward creating a fulsome Corporate Social Responsibility roadmap, there are at least three key pillars that will inform our direction and influence the path forward:
- Diversity, Equity and Inclusivity
- Environmental, Social and Corporate Governance investing
- United Nation’s Sustainable Development Goals
Diversity, Equity and Inclusivity (DEI)
Pro-Demnity stands up to build an open, accepting and just society, and we start by fostering Diversity, Equity and Inclusivity (DEI) in our workplace and with the clients and communities we serve.
We strive to provide an environment free from barriers, whether these be physical, perceptual, cultural, gender, age or otherwise. We demonstrate our commitment to this intent by providing a supportive work environment and a corporate culture that respects people’s dignity, ideas and beliefs within the framework of our corporate mission, vision, and values.
- In early Spring of 2020, the Board adopted a revised Diversity and Inclusivity Policy endorsed by Management and signed by each employee.
- Following the tragic events of George Floyd in the USA, Pro-Demnity staff formed an Anti-Racism Task Force that remains active, holding regular sessions with staff to build awareness of both conscious and unconscious bias and working to create the awareness and tools to ensure Pro-Demnity remains a thoughtful, diverse, equitable and inclusive employer.
- In June 2021, further to the discovery of 215 unmarked graves of Indigenous children at the Kamloops Residential School the organization began to bring Indigenous issues forward, starting with the first land acknowledgement at our 2021 Annual General Meeting and drawing more focused attention on the urgency to fulfil the Truth and Reconciliation Commission of Canada’s 94 Calls to Action, which detail how to redress the legacy of residential schools and advance the process of Canadian reconciliation.
- In late 2020 and early 2021 the organization underwent a compensation review, using an external HR consultant to ensure our pay practices are fair and equitable.
- The Board of Directors, through the work of the HR Committee, has also increased its oversight of DEI, so that key metrics are captured and reported regularly.
- Looking specifically at the Ontario population disbursement in the 25 – 74 age ranges – the age range for the majority of working Ontarians – Pro-Demnity is representative of the overall population.
- In measuring the ethnic and gender diversity across our employee group as compared to the City of Toronto, Pro-Demnity’s staff of 26 persons closely matches the city’s ethnic mix, whereas our 8-person leadership team is one-person shy of meeting the same ethnic representation of the City.
- In terms of gender, our percentage of females at both leadership and the general staff levels exceeds the City’s percentage.
- Educationally too, our employees have a variety of formal degrees and diplomas, as well as professional designations from the architectural, insurance, financial, legal, and communications sectors.
- Our team’s experience both within and outside of Pro-Demnity is also varied, from the 30% who have joined us during the pandemic to the 27% who have been here 14 years or longer. This mix of experience helps ensure we balance corporate memory and wisdom with new ideas and external insights.
Environmental, Social and Governance (ESG) Investing
Pro-Demnity commits itself to operating and investing in a sustainable manner and, as part of this overall commitment, the Finance and Audit Committee of the Board are creating an ESG strategy to be explicitly included as part of its overall investment approach. The proactive divestiture of investments from fossil fuels and pipelines began several years ago. Currently, Pro-Demnity does not invest or reinvest in fossil fuels and pipelines in accordance with its updated Investment Policy.
In creating its ESG strategy, the Board will continue to draw on the expertise of financial management advisors to ensure portfolio investments continue to align with corporate, fiscal and social values.
United Nation’s Sustainable Development Goals
In late 2021/early 2022 Pro-Demnity will start the process of examining the UN’s 17 Sustainable Development Goals with a view to adopting, integrating or applying actionable goals, as feasibly warranted, into our enterprise-wide operations and practices. Our intention is to participate more actively in this global endeavour while remaining mindful of local needs and available resources.
As we work toward developing our Corporate Social Responsibility roadmap, we look forward to engaging with our stakeholders and communities of practices along the way, in a productive ongoing discourse that will inform and continuously enhance our collective perspectives.
 There is only one investment in pipelines in this portfolio, a bond expiring in July 2023. Our typical investment strategy in this portfolio is to hold to maturity. It was decided to let this bond mature in 2023 and not reinvest in it.