From recycling to adopting climate-risk disclosure practices, promoting ESG initiatives has been deeply woven into the fabric of the credit union identity. To further illustrate this, the Canadian Credit Union Association recently published its 2022-2023 ESG Report, which highlights the difference Canada's credit unions are making in their local communities across the country from an environmental, social, and governance perspective.
Many credit unions in Canada have already begun implementing sustainable practices into their business frameworks and are quickly becoming leaders in championing an environmentally friendly ethos.
As previously highlighted in CCUA’s 2022-2023 ESG Report, credit unions are responding to climate change by:
- Reducing paper waste through specific program(s)
- Adopting climate-related financial risk disclosures
- Offering eco-loans and/or socially responsible investment products
- Reducing IT waste with procurement guidelines and/or equipment optimization processes and/or by participating in recycling programs
- Lending to social enterprises, co-operatives or other businesses that have an explicit mission to address social and/or environmental issues
- Maintaining robust waste management programs to divert materials away from landfills
For a complete look at the environmental, social, and governance contributions that Canada's credit unions have made to the national economy, read the full ESG report below.