Environmental, Social, Governance

Diversity, Equity and Inclusion

CI believes that to be competitive in a global environment, we must create a culture of trust where people know their differences are valued as they strive to be innovative without barriers. Diversity will strengthen our collective success and potential by enabling CI to attract and retain the best talent, bringing innovation and different perspectives to the table and enhancing decision-making. CI is committed to a diverse and inclusive culture where all employees feel:

• Valued – They are appreciated and respected for their unique perspectives and talents.
• Trusted – They make meaningful contributions and are influential in decision-making.
• Authentic – They can bring their full selves to work and express aspects of themselves that may be different from their peers.
• Psychologically safe – They feel free to hold differing views and make mistakes without being penalized and secure enough to address tough issues or take risks.

CI’s efforts to foster diversity and ensure that all employees are supported and encouraged to achieve their career potential are recognized and supported by a Diversity Policy. Additionally, discrimination, harassment and other inappropriate behaviour are addressed by CI’s Code of Conduct.

In October 2020, CI established a Diversity and Inclusion Committee, with a mandate to promote a culture of inclusion through communications, events and outreach. This committee expanded in 2021 to incorporate a leadership council comprised of management staff that work within the revised committee structure.

Other diversity measures at CI in 2021 included:

• The development of an unconscious bias learning series which required mandatory completion by senior leadership. CI intends to provide this training to all employees in 2022.
• The launch of a Diversity & Inclusion intranet hub providing access to a variety of relevant information and resources.
• The expansion of CI’s Women in Financial Services Mentorship Program, in place since 2012, to be gender neutral and provide consideration for inclusive representation. The program prepares participants to advance to leadership roles.
• Management considers diversity in the hiring and advancement of executives and senior managers. With regards to gender diversity, CI, including its major subsidiaries, has 14 women executive officers representing approximately 29% of the total number of executive officers.

CI is committed to equality and materially complies with applicable regulations related to pay equity. CI has had a pay equity plan in place for Canadian employees since 2004.

Employee Engagement, Talent and Wellness

• In 2021, CI was certified as a Great Place to Work® after a thorough, independent analysis conducted by Great Place to Work Institute® Canada. This certification is based on direct feedback from employees, provided as part of an extensive and anonymous survey about their workplace experience. CI was also named to the Great Place to Work 2022 list of Best Workplaces for Hybrid Work.

• To promote engagement and an ownership mentality among employees, CI introduced an Employee Share Purchase Plan in 2021. Under the plan, full-time employees can purchase CI stock through payroll deductions and receive an additional 15% company contribution.

• CI provides extensive training and learning opportunities for employees, giving them access to a variety of tools, courses and other resources to support skill development. Leadership training for new managers is provided through a third-party firm.

• To help employees succeed through CI’s digital transformation, a change management campaign included “learning paths” customized to their departments and teams. In 2021, approximately 600 staff members took part in a learning path to expand their skillsets for digital work.

• CI also supports those who pursue relevant education and training on their own initiative through tuition reimbursement and other recognition. And despite the pandemic, in 2021 CI offered important learning opportunities and work experience to 56 students through summer and co-op placements.

• CI promotes the wellness of its employees through enhanced benefits and health and wellness programs. To help employees manage the impacts of the COVID-19 pandemic, CI doubled its benefits coverage for psychological services.

• CI’s Health and Wellness program provides many resources for employees to navigate difficult times as well as focus on health and wellness year-round. These include webinars on topics such as nutrition, and a health coaching program that provides resources for chronic disease management.

Commitment to Communities

CI is committed to supporting communities across Canada and to being a good corporate citizen.

In addition to donating to charitable and community causes, we provide employees with one paid day off per year, known as a Ray Day, to volunteer with a community organization or charity of their choice. This program was named in memory of the late Ray Chang, who served as CI’s Chairman and Chief Executive Officer and was well known for his philanthropy.

CI’s charitable donations in 2021 included a significant contribution to Second Harvest, Canada’s largest organization involved in rescuing surplus food and redistributing it to feed people in need. CI leadership also donated $27,500 to support the Children’s Aid Foundation of Canada and fund scholarships for youth who were in foster care.

Commitment to Environmental Sustainability

CI acknowledges the importance of addressing issues related to climate change. We are currently working to establish a more systematic approach to addressing and reporting on this issue in our corporate operations and in 2022, engaged a third-party ESG consultant to assist us in these efforts.

At the operational level, we have undertaken several initiatives to reduce our direct impact on the environment, including moving to cloud services and reducing paper use. The vast majority of our fund investor statements now being delivered electronically and we have significantly reduced stocks of pre-printed marketing materials. CI also recycled approximately 39 tonnes of paper at its Toronto locations through a secure shredding service alone in 2021.