Canadian ICMIF member Desjardins Group has published its 2025 Climate Action at Desjardins report and Social and Cooperative Responsibility Report, marking five years since the cooperative financial group announced its climate ambition and commitment to achieving net-zero emissions by 2040 across its operations and key financing activities.
The reports highlight significant progress made since 2020 across sectors considered essential to a transition to a more resilient, low-carbon economy, including energy, transportation and real estate. They also underline the complexity of decarbonisation and the need for continued collaboration, innovation and practical solutions.
Among the achievements reported by Desjardins over the last five years are a substantial increase in the share of renewable energy within its energy sector lending portfolio, rising from 28% in 2020 to 73% by the end of 2025. During the same period, CAD 8.3 billion was committed to financing renewable energy and energy transition projects, while more than CAD 2 billion was invested in renewable energy infrastructure.
Desjardins also completed four sustainable and green bond issuances totalling CAD 2.2 billion across Canadian and European markets, including a CAD 500 million issuance in 2025.
The cooperative financial group reported a 27% reduction in greenhouse gas (GHG) emissions from its base operations since 2020, alongside a 32% reduction in emissions intensity linked to its investment and lending activities. However, Desjardins noted that despite these improvements, financed emissions in absolute terms have remained stable as total assets grew significantly over the same period.
“Even though we’ve made real and meaningful progress, these reports show the complexity and challenges of decarbonization,” said Gildas Poissonnier, Chief Sustainability Officer at Desjardins. “Above all, this shows that we need to keep moving forward, using reliable data and robust tools, while still remaining attentive to the needs and circumstances of our members and clients during this transition.”
Denis Dubois, President and Chief Executive Officer of Desjardins Group, emphasised the importance of balancing environmental ambitions with economic realities.
“The results of our five-year review show that the energy transition can’t happen in isolation. It needs to take into account economic and operational realities,” he said. “As a cooperative financial institution, our role is to support our members and clients in the transition to a low-carbon economy by collaborating with partners to meet their needs and amplify our impact.”
The reports also showcase various collaborative initiatives undertaken by Desjardins and its partners to support climate action and sustainable development.
These include the creation of Décarbone+, a programme designed to help businesses better understand and reduce their greenhouse gas emissions; investment in climate technology startup development through the Lab-to-Startup initiative; and the launch of the CAD 50 million Amplifier fund to support affordable, low environmental impact housing projects in Québec.
Desjardins has also supported renewable energy and clean transport infrastructure projects, including financing wind and battery energy storage developments in partnership with Indigenous communities and renewable energy companies, as well as expanding electric vehicle charging infrastructure across Québec and Ontario.
Despite ongoing geopolitical and economic uncertainty, Desjardins reaffirmed that climate action and the integration of environmental, social and governance (ESG) considerations remain central to its long-term strategy. The organisation also retained the highest possible AAA ESG rating from MSCI in 2025.
Desjardins said its experience over the past five years reinforces the importance of cooperation and collective action in accelerating the transition towards a fairer, more resilient and low-carbon economy.
