Vancity’s climate disclosures

Achieving or exceeding the goals of the Paris Agreement will require drastically reducing emissions across all facets of our daily lives and across the economy – in manufacturing, resource extraction, transportation, agriculture, construction, and many other sectors. These activities, as well as initiatives that remove emissions, all depend on the financing, investment, and underwriting provided by financial institutions.

As a sector, financial institutions decide which organizations, initiatives and activities receive funds through loans and investments – and this makes them critical in the global fight against the climate crisis and the transition towards a low-carbon economy.

To create effective net zero strategies and to develop innovative climate related financial products, it’s imperative that financial institutions credibly measure and transparently disclose the emissions enabled by their financing and investment, and underwriting.

Vancity’s history on sustainability reporting

Setting baselines to plan and measure progress

Vancity’s climate disclosures

We are committed to posting our climate disclosures annually. We’ll work to continually improve the scope, quality, accuracy and transparency of our disclosures, and to set an industry-leading example for Canada’s financial institutions.

Our commitments

Five years after the Paris Agreement, progress has been insufficient. Stronger action is needed now. Vancity is stepping up to the plate with the following commitments:

Net-zero by 2040

Our ambition is to make Vancity net-zero by 2040 across all our mortgages and loans. That means the carbon emitted from anything we finance will be eliminated or significantly reduced, with any remaining emissions being brought to net-zero. We’ll start this work by setting our first target for 2025.

Financing an equitable climate transition

Unaddressed, climate change – like the pandemic – will change how we work and live, and will drive further inequality. We will focus our work in financial and social inclusion to provide banking and other solutions to help people who are affected by the climate emergency, as well as those seeking support in transitioning to cleaner and more sustainable living.

Investing in a better future

We will help our members invest for the future we need by offering only responsible investment options that can demonstrate the integrity of their Environmental, Social, and Corporate Governance (ESG) screening and stewardship process.

Be transparent and accountable

We will encourage change within the financial services sector by accurately measuring and openly reporting on how our own actions are improving the well-being of people, communities and the environment. We aim to continue implementing, testing, and helping improve emerging international standards for climate and impact reporting.

Walk the talk in all we do

We will live our values in our daily decision-making in order to serve the diverse needs of our members, staff, and communities. We will do our part across our operations to contribute to a just climate transition.

Jan O’Brien

In the wake of the COVID pandemic, it’s clear our lives will change, but will it be for the better? Or will we fail to address the looming climate emergency and allow inequality to deepen by reviving an economy that has been maximizing profit at the cost of both the planet and the people who live on it?