3 years ago
- Long-term climate change risks are increasingly informing financial decisions for the world’s biggest investors says a recent report from the London-based Asset Owners Disclosure Project (AODP). Yet, a considerable number of companies in the financial sector, particularly in North America, Asia and the Middle East, show no evidence of any action to address climate change, putting $4.5 trillion in global assets at risk.
4 years ago
- Vancity’s 2015 Annual Report, Strong foundations for a sustainable future, documents the credit union’s sound financial position and unique relationships with local communities. The integrated annual report can be viewed at annualreport.vancity.com.
Drawing on the priorities outlined in Vancity’s 2020 Plan, the report includes stories that illustrate how Canada’s largest community credit union is building healthy communities and making a positive impact on people’s lives. It transparently reports progress against key organizational targets and commitments.
4 years ago
- It was the mid-‘90s. The Board of Directors at Vancity – a large regional financial institution based in Vancouver, Canada – was struggling to get management’s attention on its social purpose agenda. I and the other directors believed that marrying social goals with the company’s business could create a powerful vehicle for regional prosperity: attract customers, become a force for social progress and build business. The impasse continued until our Board identified a key leverage point: incorporating our social business objectives into the CEO’s incentive pay. That turned out to be the difference-maker.
4 years ago
- At age 27, I was the youngest director elected to Vancity Credit Union, the largest community-based credit union in the world. It was the late 1980s. I ran a seniors' agency, was chair of a provincial social planning group and had been a recent board member of the local United Way. In two and a half words, I was a "social do-gooder."
My first board-management strategy session was spent discussing mergers, declining margins, capital adequacy and potential staff lay-offs. We were in a bad business cycle.
An hour before the meeting was scheduled to end, we reached the final agenda item: "Other Business."