Our commitments

We have engaged with several public statements, commitments and declarations over the years. In the spirit of transparency and accountability, here is an overview and an update on the steps we are taking to deliver on these commitments.

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Justice, equity, diversity and inclusion (JEDI)

In 2022 we worked with external consultants to conduct a JEDI, sometimes called AREDI (accessibility, reconciliation, equity, diversity and inclusion), audit of our policies and procedures. Through this audit, we learned that our current strength is in taking steps to implement JEDI systematically in our funding, as well as in our partnership processes and decision-making. We also learned that we must do better in many other areas.

We have a working group composed of staff and trustees who oversee the implementation of JEDI within all aspects of our policies and practices. As a first step, members of our Board of Trustees and staff participated in the Philanthropic Foundations of Canada’s JEDI accelerator, a year-long peer learning program with other member foundations embarking on their JEDI journey. We also signed and committed to the Canadian Council for Aboriginal Business’ PAR certification (see details below).

In 2023, we will prioritize continuing staff and board training and incorporating JEDI practices across all areas of the Foundation.

Investments and funding

United Nations Principles for Responsible Investing (PRI)
since 2017

As the world’s leading proponent of responsible investment, PRI supports its international network of investor signatories to incorporate environmental, social and governance (ESG) factors into their investment and ownership decisions. We are evaluated annually by the PRI Association, using a rating of E to A+ on our ESG performance across three categories: Strategy and governance, manager selection and monitoring, and active ownership. To view the detailed report, please visit: www.unpri.org

Strategy and governance
Rating: A

Manager selection and monitoring
Rating: A

Active ownership
Rating: E

Active ownership refers to the use of our rights and position as shareholders to influence the activity or behaviour of investees for positive change, including proxy voting and direct engagement.

Although we do not require existing managers to engage on specific ESG issues, we support and participate in shareholder engagement efforts through investor networks and initiatives.

Canadian Investor Statement on Climate Change (CISCC) since 2021

The CISCC recognizes the catalyzing impact that investment assets can have on climate change and identifies actions investors can take to accelerate the transition to a net-zero economy. This includes requirements for our investees as well as standards and processes for investment practices.

We have committed to achieving net-zero carbon emissions in our investment portfolio by 2050 at the latest, with an interim objective of a 60% reduction in carbon emissions by 2030. We also began divesting from fossil fuel holdings, which as of 2022 represented 3.8% of our endowment. We expect to fully divest by the end of 2023.

GIVE5 since 2020

Climate

The International Philanthropy Commitment on Climate Change (IPCC) since 2021

The International Philanthropy Commitment is a global movement of philanthropic foundations committed to urgent action on climate change. This action is across six categories: Education and learning, commitment of resources, integration, endowment and assets, operations, influencing and advocacy, and transparency. In 2021, we also signed the Canadian version of this statement, the Canadian Philanthropy Commitment on Climate.

Signatories must submit an annual implementation report.

Action towards each pillar of the IPCC (2022):

1. Education and learning
We prioritized education opportunities for our Board and staff and shared learnings with other funders.

2. Commitment of resources
We allocated over $10.4M to our Climate focus area and supported 61 charitable and non-qualified donees to address systemic barriers to climate mitigation in Canada.

3.Integration
We allocated new grants at the intersection of climate action and equity, diversity and inclusion. We regularly ask organizations we support how they build equity as an outcome of their climate mitigation solutions.

4. Endowments and assets
We committed to completely divest from coal, oil and gas and fossil fuel holdings by the end of 2023. We have also committed to reach net-zero carbon emissions in our investment portfolio by 2050 at the latest.

5. Operations
We audited the environmental impact and carbon footprint of the Foundation. In 2023, we will implement actions aimed at reducing the carbon footprint of our operations.

6. Influence and advocacy
We actively support organizations that develop policy recommendations and oversee government relations. We also fund Indigenous–led organizations who work to advance their Treaty rights.

7. Transparency
We publish all granting decisions on our website and share potential granting opportunities with other Canadian climate funders.

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Reconciliation

Four Seasons of Reconciliation, 2022

The Circle on Philanthropy (The Circle) since 2008

The Circle contributes to positive change between philanthropic and Indigenous communities by creating spaces of learning, innovation, relationship-building, co-creation and activation.

In December 2022, McConnell was accepted into Partners in Reciprocity, a peer learning program dedicated to supporting philanthropic teams in a reorientation towards equity and justice.

In 2015, we signed The Circle-led Philanthropic Community's Declaration of Action. In doing so, we pledge to ensure action on reconciliation following the Truth and Reconciliation Commission’s report and subsequent 94 calls to action. We are committed to learn about the history and legacy of the colonial system that imposed the Indian Residential School System, listen with compassion, respect and empathy to partners who give voice to this tragedy and recognize the need for an ongoing commitment to support this multi-generational work. Additionally, the Foundation commits to:

Share our networks, platform and resources to include and benefit Indigenous Peoples.
Build relationships with Indigenous Peoples and extend the reach of our efforts in both policy and practice.
Explore new opportunities to support healing and reconciliation, as well as the implementation of the spirit, intent and content of the Truth and Reconciliation Commission’s findings and recommendations.

Progressive Aboriginal Relations (PAR) since 2022

PAR is a certification offered by the Canadian Council for Aboriginal Business (CCAB).* We are committed to earning bronze-level PAR certification by the end of 2023. These efforts are being led by a working group representing all parts of the organization. This work will include developing a commitment statement, drafting policy, identifying stakeholders and communities of interest and training leadership and employees on PAR.

*Note: In 2019, the Foundation contributed $175,000 over three years to the CCAB for a project to develop a database of corporations committed to Indigenous procurement and a directory of certified Aboriginal businesses in Canada.

Communities

Collectif des fondations québécoises contre les inégalités since 2014

Le Collectif des fondations québécoises contre les inégalités is a group of Quebec foundations that believe that while governments have a duty to reduce inequalities, the philanthropic sector has a complementary responsibility to curb rising inequality, contribute to a just and fair recovery and build more resilient systems.

In 2022, the Foundation continued to engage with the Collectif on policy priorities, and to share knowledge on topics in the philanthropic sector.

In 2021, McConnell signed the Collectif’s pledge for philanthropic foundations to fight inequality. For further details, please visit: collectifdesfondations.org/déclaration-dengagement

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Our partners

Our commitments

Justice, equity, diversity and inclusion (JEDI)

Investments and funding

United Nations Principles for Responsible Investing (PRI)since 2017

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Canadian Investor Statement on Climate Change (CISCC) since 2021

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GIVE5 since 2020

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Climate

The International Philanthropy Commitment on Climate Change (IPCC) since 2021

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Reconciliation

Four Seasons of Reconciliation, 2022

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The Circle on Philanthropy (The Circle) since 2008

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Progressive Aboriginal Relations (PAR) since 2022

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Communities

Collectif des fondations québécoises contre les inégalités since 2014

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Keep exploring

United Nations Principles for Responsible Investing (PRI)
since 2017