LANGLEY, B.C. –First West Credit Union has continued its journey to becoming a more sustainable and socially conscious organization by engaging Morningstar Sustainalytics, a leading global provider of Environmental, Social, and Governance (ESG) research, ratings, and dat , for a second consecutive year to obtain a formal ESG risk rating.
“Being a financial co-operative means our members have chosen to align themselves with us because we have a shared interest of making our world and communities a better place,” says Launi Skinner, CEO of First West Credit Union. “Although this has always been our mission and always will be, receiving a formal ESG rating helps us confirm our organization is having the intended impact and helps us identify where we can improve.”
This second annual rating placed First West in the upper echelon of global financial institutions with a rating of 16.7 “low,” indicating the organization’s low exposure to ESG risks and that they are managing their environment, social, and governance risks well. This is an improvement over last year’s rating of 18.6 “low”.
Some areas that helped form First West’s strong ESG rating included their community investment programs, providing responsible investment options to members, having a strong commitment to equity, inclusion and diversity and ensuring members’ information is safe and secure.
“Although the elements that go into forming this rating are incredibly complex, the crux actually remains quite simple—enabling us to use our business as a force for good, now and into the future,” says Skinner. “Ultimately, we believe it’s incredibly important to walk the walk when it comes to ESG and be transparent and accountable in the work that is being done.”
For more information on this rating, visit: Chttps://www.sustainalytics.com/esg-rating/first-west-credit-union/2003363290