Five years after setting its climate ambition, Desjardins reports on the progress it’s made and the challenges ahead

Press Release

Montreal, May 21, 2026 – Five years ago, Desjardins Group announced its climate ambition which included achieving net-zero emissions by 2040 for its operations[1] and financial activities[2] in three sectors that are essential for the transition to a more resilient, low-carbon economy: energy, transportation and real estate. Today, Desjardins Group is releasing the 2025 Climate Action at Desjardins report and the Social and Cooperative Responsibility Report. In these two reports, Desjardins takes stock of the progress it’s made.

Amid lingering geopolitical and economic tensions, and despite increasing global resistance to ESG (environmental, social and governance) integration, Desjardins remained firmly on course. And in 2025, Desjardins was once again awarded the highest possible ESG rating of AAA by research firm and international ratings agency MSCI. Between 2020 and 2025, Desjardins made significant, tangible progress:

• The share of renewable energy in our energy sector lending portfolio went from 28% to 73%[3]. Since 2020, a total of $8.3 billion has been committed[4] to financing energy transition and renewable energy projects.
• Over $2 billion has been invested[5] in renewable energy infrastructure.
• Four sustainable and green bond issuances, totalling $2.2 billion, were executed on the Canadian and European markets (including a $500 million issuance in 2025).

Since 2020, Desjardins has reduced the intensity of the greenhouse gas (GHG) emissions from its base operations [6] by 27% and the GHG emissions of its investment and lending activities by 32%. However, the organization’s total assets have grown by 55% over that same period (now up 13% from 2024) and financed GHG emissions have stagnated in terms of absolute value.

Moving forward with clarity

“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.”

“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,” said Denis Dubois, President and Chief Executive Officer of Desjardins Group. “It means we’ll need to make important decisions and continually adjust in an environment that is still demanding. 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.”

Cooperation is more important than ever

Our progress over the last five years has reinforced our belief that meaningful climate action requires collective effort. To make real headway toward a fairer, more equitable and low-carbon economy, we need a political, economic and regulatory ecosystem that is coherent and motivating—one that unites public- and private-sector players and keeps them moving in the same direction.

In the face of evolving challenges, we remain firmly committed to listening and cooperation. We’ll continue to work together with our partners and other key players to strengthen our collective impact.

The following achievements are concrete examples of how, by working together to address climate challenges, we can help build a more prosperous, resilient and forward-looking society:

• Working with other partner companies and institutions, we created Décarbone+ to provide businesses with tools and step-by-step support so they can better understand their greenhouse gas emissions and take concrete action adapted to their reality.
• We invested $400,000 in partnership with Cycle Momentum to help create Lab-to-Startup, which helps encourage the growth of climate technology startups coming out of Quebec university research.
• We launched the Amplifier fund, in partnership with the Société d’habitation du Québec. This $50 million fund, which is managed by Desjardins Capital and financed by six foundations, supports the development and accessibility of affordable rental housing with a low environmental footprint.
• We helped finance the PPAW 1 wind farm in Quebec, in partnership with the Alliance de l’énergie de l’Est and the Wolastoqiyik Wahsipekuk First Nation; we also worked with Boralex and the Walpole Island First Nation to help finance the development of the Sanjgon Battery Energy Storage facility (formerly known as Tilbury) in Ontario.
• In partnership with AddEnergie and Hydro-Québec, we installed a network of electric vehicle charging stations across Quebec and Ontario. In total, Desjardins had 477 charging stations installed, including 462 that are accessible to the general public on Desjardins sites.

Though the context is still challenging and decarbonization is progressing more slowly than anticipated five years ago, we remain committed to taking action and our climate goals are still key strategic priorities. We’re also determined to continue incorporating ESG factors into our activities and products because we believe they’re a source of more sustainable growth.

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