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2022 Sustainability Report-web_navigation_thumbnail

Our 2022 Sustainability Report

Download our latest report to learn more about our sustainability approach and initiatives.

“We believe that value creation and sustainable development are complementary goals. Throughout our operations, we are committed to practices that have a positive impact on the communities in which we operate.”

— Bruce Flatt, Chief Executive Officer

Sustainability at Brookfield

Our sustainability strategy is centered on supporting business resilience and creating value for our investors and stakeholders—now and in the future.

OUR GUIDING SUSTAINABILITY PRINCIPLES

Mitigate the impact of our operations on the environment

 

Strive to minimize the environmental impact of our operations and improve our efficient use of resources over time.

 

Support the goal of net-zero greenhouse gas (GHG) emissions by 2050 or sooner.

Ensure the well-being and safety of employees

 

Foster a positive work environment based on respect for human rights, valuing diversity, and having zero tolerance for workplace discrimination, violence or harassment.

 

Operate with leading health and safety practices to support the goal of zero serious safety incidents.

Uphold strong governance practices

 

Operate to the highest ethical standards by conducting business activities in accordance with our Code of Business Conduct and Ethics.

 

Maintain strong stakeholder relationships through transparency and active engagement.

Be good corporate citizens

 

Ensure the interests, safety and well-being of the communities in which we operate are integrated into our business decisions.

 

Support philanthropy and volunteerism by our employees.

Our Net-Zero Commitment

We are aligned with the global imperative of decarbonization and have set an ambition to achieve net zero across all our assets under management by 2050.

Affiliations and Partnerships

In support of advancing our sustainability efforts, we align and engage with sustainability frameworks and sustainability organizations.

NZAMI Logo June 2023

Net Zero Asset Managers Initiative

Signatory to Net Zero Asset Managers initiative supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius; and to supporting investing aligned with net zero emissions by 2050 or sooner.

TCFD Logo June 2023

Task Force on Climate-related Financial Disclosures

Supporters of the Task Force on Climate-related Financial Disclosures (TCFD), which aims to guide companies in incorporating the considerations of the effects of climate change into business and financial decisions to help facilitate the transition to a more sustainable, lower carbon economy. Our inaugural TCFD disclosures are included in our 2022 Sustainability Report.

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Principles for Responsible Investment

Signatory to the United Nations-supported Principles for Responsible Investment (PRI), underscoring our ongoing commitment to responsible investment and sustainability best practices.

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The IFRS Sustainability Alliance

Alliance Member of the IFRS Sustainability Alliance, a global membership program established to develop globally accepted accounting and sustainability disclosures, and whose industry-specific standards are designed to be evidence-based and market-informed, to further formalize the integration of sustainability considerations into our due diligence process.

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ILPA Diversity in Action

Signatory to the ILPA Diversity in Action (DIA) initiative, demonstrating our commitment to advancing diversity and inclusion, both within our organization and the private equity industry more broadly.

Sustainable Markets Initiative Logo June 2023

Sustainable Markets Initiative’s (SMI) Asset Manager and Asset Owner (AMAO) Task Force

We have been involved with SMI’s AMAO Task Force since 2021. It focuses on scalable ways for institutional investors to allocate capital towards sustainable solutions leveraging expertise from each member firm.

Operating Principles for Impact Management Logo June 2023

Operating Principles for Impact Management

Through our Brookfield Global Transition Fund, signatory to the IFC’s Operating Principles for Impact Management, which provide a framework for investors for the design and implementation of impact management strategy.
 
Our annual disclosure statement and third-party verification can be found here:

Sustainability Integration into Our Investment Process

We seek to embed material sustainability considerations and evaluate risks and value creation opportunities throughout our investment process. Below is a summary of how we integrate sustainability factors.

Due Diligence

We tailor sustainability due diligence to each investment and follow a structured approach, leveraging relevant industry frameworks.

  • Proactively identify material sustainability risks and opportunities relevant to the potential investment
  • Leverage our investment and operating expertise and utilize industry-specific guidelines that may incorporate SASB guidance
  • Where warranted, perform deeper due diligence, working with internal experts and third-party consultants
  • We enhanced our Sustainability Due Diligence Protocol to more specifically address climate change, human rights and modern slavery risks

Investment Committee Approval

All potential investments must incorporate sustainability matters into their evaluation and be approved by the Investment Committee.

  • Investment teams outline for the Committee the merits of each transaction and material risks, mitigants and significant opportunities for improvement, including those related to sustainability
  • Material sustainability factors may include bribery and corruption risks, health and safety risks and environmental and social risks

Ongoing Management

Upon company acquisition, for assets where we have control, we create a tailored integration plan that includes any applicable material sustainability-related matters for review and execution.

  • Brookfield looks to advance sustainability initiatives and improve sustainability performance to drive long-term value creation, as well as to manage any associated risks
  • It is the responsibility of the management teams within each portfolio company to manage sustainability risks and opportunities through the investment’s life cycle, supported by the applicable investment team

Exit

  • As part of divestiture, we create robust business plans outlining potential value creation deriving from several different factors, including relevant sustainability considerations
  • We also prepare both qualitative and quantitative data that summarize the sustainability performance, where applicable, of the investment and provide a holistic understanding of how Brookfield has created value and managed the investment during the holding period

Building a Diverse and Inclusive Environment

Building a diverse, equitable and inclusive work environment reinforces our culture of collaboration and strengthens our ability to develop our people, maintain an engaged workforce and create value for our investors.

Sustainability in Action

Properties Bee Colony
Real Estate

Pollinators, the Honey Bees

Bees are a vital part of our ecosystem and urban communities. Providing a safe place to build their hives on our office property rooftops benefits not only the bees themselves, but also our communities.

brookfield-perspectives-season-1-podcast-episode-thumbnail-wind-farm
Renewable Power

Tackling Reuse, Recycling and Recovery of Materials

Brookfield Renewable is working on opportunities to reuse, recycle or recover materials from major components in its solar, wind and hydro operations to support its goal of diverting these materials from landfills.

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Infrastructure

Fostering Local Jobs and Employability

Providing training to unemployed community members.

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Corporate

Let’s Save Lives Hackathon

As part of Brookfield’s IT Talent Development Program, in 2022, we hosted the Let’s Save Lives Hackathon event.

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Renewable Power

An Onshore Wind Portfolio in One of Europe’s Strongest Wind Resource Locations

Ireland is a prime location for this wind portfolio, and a place where wind is a competitive source of electricity in a natural gas fired market.

Insights Building a Global Financial System for Net Zero
Impact Investing

Building a Global Financial System for Net Zero

Net-zero transition plans are mainstreaming, driving demands for capital and solutions.

Schoeller Allibert  Packaging
Private Equity

Schoeller Allibert: Making Packaging Too Good to Waste

Schoeller’s mission is to design and produce packaging products that respect the environment.

Arc Infrastructure Rail
Infrastructure

Arc: Investing in Renewable Energy

Arc Infrastructure has replaced approximately 32 km of overhead power lines with a solar powered system.

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Real Estate

The Partner to Empower Program: Promoting Meaningful Diversity

Partner to Empower supports Black and minority business owners at our retail locations.

Additional Sustainability Resources

Our approach to sustainability is vital to the success of our business. Our additional sustainability resources are available to further demonstrate our ongoing efforts.