Le Lézard
Classified in: Business
Subjects: PARTNERSHIPS, MISCELLANEOUS, MISCELLANEOUS, Environmental, Social, and Governance Criteria, Philanthropy

First West ranks among top 3% of Morningstar Sustainalytics' global rated companies in managing ESG risks

LANGLEY, B.C., Aug. 01, 2023 (GLOBE NEWSWIRE) -- As of June 2023, First West Credit Union has received a Morningtar Sustainalytics' Environmental, Social and Governance (ESG) Risk Rating of 11.3, ranking the credit union in the top 3% out of over 15,600 companies rated worldwide. This score firmly places First West in the "Low Risk" category of experiencing material financial impacts from ESG factors.

The 2023 rating of 11.3 improves the credit union's previous rating by 32% (lowering their score from 16.7) compared to 2022. The improvement in the rating reflects the First West's significant commitment to ensuring its stability and integrating sustainable business practices to achieving growth. The progress made across key areas of impact, including data privacy and security, corporate governance, human capital, equity, inclusion and diversity, and business ethics?as well as the credit union's commitment to the United Nations Principles of Responsible Banking (UN PRB).

"Improving our Sustainalytics rating is a testament to our team's dedication to lowering First West's environmental, social and governance impact," said Paul Brodeur, Chief Strategy and Market Growth Officer of First West Credit Union. "We're stepping forward with an ever-increasing focus on our core purpose to create positive change for our members, communities, employees and our planet?especially in this time of global challenge and opportunity. It's very meaningful for us to see that our extra effort to continuously operate in a way that's consistent with our longstanding cooperative values stands out among financial institutions."

The upgraded rating underlines the success of First West's initiatives and actions to lower its environmental impact, foster social justice, and ensure good governance. With many concerns and questions about financial stability in people's minds today?both economically and in households?First West's transparent commitment to lowering material risks signals that the credit union continues to prioritize long-term stability and growth for its members and capital investors.

Morningstar Sustainalytics is a global leader in ESG research and ratings, providing high-quality independent environmental, social and governance research, ratings and data to institutional investors and companies. Their multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of total unmanaged ESG risk that is comparable across all industries. Morningstar Sustainalytics' ESG Risk Ratings provide a quantitative measure of unmanaged ESG risk and distinguishes between five levels of risk: negligible, low, medium, high and severe.

For more information, visit First West's full report here.

About First West Credit Union

First West Credit Union offers members the financial strength, comprehensive product selection and extended branch network of a large financial institution while maintaining local brand identities and a unique grassroots approach to service. Led by Launi Skinner, First West is one of Canada's largest credit unions with nearly $17.4 billion in total assets and assets under administration, more than 250,000 members and over 1,250 employees. It operates 45 branches throughout the province under the Envision Financial, Valley First, Island Savings and Enderby & District Financial brands. Visit?firstwestcu.ca?for more information on First West Credit Union.


Copyright © 2023 Morningstar Sustainalytics. All rights reserved. This [publication/ article/ section] contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

These press releases may also interest you

21 jun 2024
Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 5, 2024 to file lead plaintiff applications in a securities class action lawsuit against The...

21 jun 2024
The Prime Minister, Justin Trudeau, today issued the following statement on the passing of James K. Irving: "It is with sadness that I learned today of the passing of James K. Irving, a successful Canadian business leader and entrepreneur. "A proud...

21 jun 2024
TSX VENTURE COMPANIES NEX COMPANY BULLETIN V2024-1898 CHINA KELI ELECTRIC COMPANY LTD. ("ZKL.H")BULLETIN TYPE:  Reinstated for TradingBULLETIN DATE:  June 21, 2024NEX Company Further to the TSX Venture Exchange Bulletin dated January 9, 2023, the...

21 jun 2024
B2Gold Corp. ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Thursday, June 20, 2024. A total of 845,972,994 common shares were voted at the...

21 jun 2024
Global X Investments Canada Inc. ("Global X") is pleased to announce the distribution amounts per security (the "Distributions") for its exchange traded funds (the "ETFs"), for the period ending June 30, 2024, as indicated in the tables below. The...

21 jun 2024
The Minister of Diversity, Inclusion and Persons with Disabilities, the Honorable Kamal Khera, and the Minister for Women and Gender Equality and Youth, the Honorable Marci Ien, will be in Mississauga to announce investments in mental health support...

News published on and distributed by: