CANADA POST

CANADA POST

May 13, 2008 13:57 ET

CORRECTION FROM SOURCE/Canada Post Issues First Corporate Social Responsibility Report

A correction from source is issued with respect to the release disseminated this morning at 10:00 AM ET. In the 3rd last paragraph, it should read "...an investment up to $1.9 billion to modernize." instead of "...an investment up to $1.9 million to modernize.". The complete and corrected version follows:

OTTAWA, ONTARIO--(Marketwire - May 13, 2008) - Canada Post today issued its first annual Corporate Social Responsibility Report (CSR). The Report reflects the corporation's economic, social and environmental objectives, strategies, and performance.

"Our future success depends on our ability to operate in an environmentally and socially responsible manner", said Moya Greene, president and CEO of Canada Post. "This report and the action plans that drive it are an important step in inspiring confidence that Canada Post is working to create a sustainable future not only for the corporation, but also for all Canadians."

Robert Waite, Senior vice-president, Corporate Social Responsibility said, "The Corporation's approach to social responsibility is anchored in the belief that our long term economic health is directly linked to the health of our employees, our communities and our environment. With this first CSR Report, Canada Post aims to communicate both its accomplishments and challenges in an open and transparent way. It is designed to initiate a conversation with all employees and stakeholders about our social and environmental responsibility."

Some key achievements in the 2007 CSR report include:

- Recognition in Maclean's magazine as a top 100 employer in Canada;

- A Strategic Council poll found Canada Post "the most trusted federal institution" in Canada;

- According to a Leger Marketing survey Canada Post ranked third among the 150 most-admired businesses in Quebec;

- Since 2002, Canada Post has invested more than 10 million dollars in more than 250 energy-reduction initiatives and has reduced greenhouse gas emissions from its buildings and fleet by 3%.

- Canada Post plans to follow LEED™ green building standards for all major new buildings and has targeted a 75% landfill waste diversion rate by December 2008

- Employee engagement levels rose by 5 percentage points;

- Canada Post donated 1.4% of pre-tax profits to registered charities and not-for-profit organizations;

- Through employee and corporate donations, Canada Post raised more than 2.5 million dollars for the United Way;

Canada Post faced some significant challenges in 2007. There were more than 4,000 accidents that resulted in lost time. Absenteeism is a concern; there were 14.8 lost days per employee compared to an overall national average of 9.7 days. Despite 10 years of labour peace, more than 20,000 grievances were filed in 2007. High fuel prices continue to be a concern for Canada Post and its aging infrastructure requires an investment up to $1.9 billion to modernize.

"While we have much to take pride in, we are also taking action in those areas in which we need to improve", said Moya Greene. "To enable us to measure our improvement, we are setting baselines against which we will measure our future progress."

The 2007 Canada Post Corporate Responsibility Report is available at
www.canadapost.ca/socialresponsibility.

Contact Information

  • Canada Post
    Media Relations
    613-734-8888