Fonds de solidarité FTQ Unveils "Our Impact"

Montréal, 18 October 2024

On the occasion of its Annual General Meeting of Shareholders, the Fonds de solidarité FTQ unveiled Our Impact, a report on the results to May 31, 2024, of the targets set as part of the five-year vision announced in 2022, including assets related to sustainable development. The report also discusses the organization's six societal return themes. 

"Once again this year, the Fonds de solidarité FTQ took meaningful action towards a just and inclusive transition in line with the mission that has guided it for more than 40 years: to call upon the solidarity and savings of Quebecers to help drive our economy. The Fonds team is more motivated than ever to improve the financial situation of Québec workers and their families," said Fonds Chairman Claude Séguin. 

"At the Fonds de solidarité FTQ, we believe that financial returns must be coupled with societal returns. In other words, we are committed to helping Québec society become more sustainable. And in the past year, we've taken several steps that demonstrate the impact we can have with your savings," said Fonds President and CEO Janie C. Béïque. 

Targets

Our Impact presents the Fonds' progress, as at May 31, 2024, on the three targets to be met over the five-year period ending May 31, 2027.

• The Fonds has reached $7 billion in sustainable assets by developing a definition aligned with international standards, implementing a process and tools for qualifying companies, and encouraging them to transition to a sustainable business model. The target is $12 billion.
• This past year, 30,272 new shareholders without a pension plan or earning less than the Québec average salary started saving, bringing the organization more than halfway to its shareholder recruitment goal of 100,000, just two years after this target was set.
• The Fonds' employees have already carried out over 50,000 impact actions in connection with one of the six societal return themes. The objective of the 100,000 little gestures initiative is to show that we can change the world without much effort, for example, by buying local or choosing to carpool.

Societal returns

The Fonds' vision also includes six societal return themes that allow the organization to make a difference in key issues in Québec. Our Impact presents some of the steps taken to address Québec's socioeconomic challenges.

• Decent retirement – At a time when many Quebecers are not always able to prepare financially for retirement, we need to act. Thanks to the Fonds' Centre de formation économique, 1,131 workers participated in 94 workshops designed to raise awareness on the need to save in order to enjoy a decent retirement. As well, the Fonds has a network of 1,793 local representatives (LRs) in the workplace who also strive to make their co-workers aware of the importance of building a retirement nest egg.
• Long-term growth of SMEs – Because business succession is tied to economic prosperity, the Fonds has joined forces with the École d'Entrepreneurship de Beauce to support business owners and train the next generation of entrepreneurs. In line with this theme, the Fonds invested in the acquisition of window and door manufacturer Novatech by the Gendreau family of Beauce, the founders of Garaga. For their part, nearly half of the investments made by the 17 Fonds régionaux de solidarité FTQ were to support SME transfers in the regions.
• Sustainable real estate – The Fonds immobilier de solidarité FTQ is stepping up its investments in economically, environmentally and socially responsible projects in order to alleviate the housing shortage while building for the future. As an example, the Fonds announced a new agreement with the governments of Québec and Canada for the construction of affordable and social housing, which once completed, will provide 2,250 housing units for those most in need.
• Just environmental transition – The Fonds invests Quebecers' savings in businesses, projects and funds that aim to reduce our footprint. The organization has injected upwards of $60 million into companies that develop or offer products or services that help combat climate change. Once such company is Habitat Nature, which supports organizations by proposing nature-based land-use strategies aimed at creating balanced and healthy ecosystems, resilient environments and a sustainable supply of ecological services.
• Just technology transition – Innovation, especially when it comes to the technology transition, is crucial for Québec's economic development, but it must take into account the reality, resources and needs of local businesses. Moreover, technology should serve people, not the other way around. The Asthuce team, which offers a variety of services to Québec companies committed to a just technology transition, provided 87 coaching sessions last year.
• Talent attraction and retention – For our businesses to stay local and continue to grow, they need to attract and retain the right talent. One way the Fonds supports partner companies in this regard is by offering an HR maturity assessment.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created more than 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of over 785,000 shareholders. 

With net assets of $20 billion as at May 31, 2024, the Fonds supports thousands of companies through venture and development capital investments based on the belief that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or our company page on LinkedIn.