Equity and Anti-racism
As a financial institution and employer, Vancity is committed to doing their part in removing barriers that stem from systemic exclusion. Vancity helps with real-life problems by putting people first. This approach helps them understand and address the issues that intersect between equity, financial resilience and systemic challenges. It looks like:
An improved grant application process to encourage equity-deserving groups.
Vancity worked with Social Economy through Social Inclusion (SETSI) to review the grant application process for Vancity’s Community Partnership Program.
The improvements resulted in more submissions from equity-deserving groups than previous years. And in 2022, at least 37% of grants in 2022 were provided to organizations that are led by or serve Indigenous or Black communities.
Continued commitment to their 2020 BlackNorth pledge.
Vancity signed the BlackNorth pledge in 2020, which commits them to allocate at least 3.0% of their grants to promote economic opportunities in Black communities.
Vancity believes they have a responsibility—and the tools—to help. When more people have fair access to finance, it helps support the diversity in Canada’s economy and strengthens their communities. Learn more about Financial Inclusion.
In 2022, Vancity invested 4.9% ($697,100) of their Shared Success community fund to initiatives that specifically serve Black communities, exceeding the pledge target.
A commitment to leadership diversity.
Representation is important and evidence of the equality of opportunities. Having a diverse leadership team results in better informed and inclusive decisions.
By the end of 2025, Vancity’s Board and senior management will reflect their community diversity where at least 40% identify as Indigenous, Black, people of colour, 2SLGBTQIA+, gender or sexually diverse, and people living with a disability. In 2022, they exceeded these targets:
- Board of Directors: 67% are women, 56% identify as IBPOC, 22% identify as 2SLGBTQIA+, and 11% are people living with a disability.
- Senior management: 55% are women, 35% identify as IBPOC, 7% identify as 2SLGBTQIA+, and 13% are people living with a disability
Learn more about Equity and Anti-racism
Climate
Vancity is working towards a climate transition that puts people at its centre and leaves no one behind. These are Vancity’s five climate commitments:
Net-zero by 2040
Vancity’s ambition is to make Vancity net-zero by 2040 across all their mortgages and loans. That means the carbon emitted from anything they finance will be eliminated or significantly reduced, with any remaining emissions being brought to net-zero.
Invest in a better future.
Vancity will help their members invest for the future we need by offering responsible investment options that can demonstrate the integrity of their environmental, social and governance (ESG) screening and stewardship process.
Finance an equitable climate transition
Unaddressed, climate change will change how we work and live, and will drive further inequality. Vancity will focus their work in financial and social inclusion to provide banking and other solutions to help people who are affected by the climate emergency, as well as those seeking support in transitioning to cleaner and more sustainable living
Be transparent and accountable
Encouraging change within the financial services sector by accurately measuring and openly reporting on how their own actions are improving the wellbeing of people, communities and the environment.
Walk the Talk
Vancity is living their values in their daily decision-making in order to serve the diverse needs of their members, employees and communities. They will do their part across their operations to contribute to a just climate transition.
Learn more about Vancity’s climate journey
