Rogers: driving connectivity and tech innovation in Canada
Founded in 1960, Ted Rogers believed in the power of communication to enlighten, embolden, and entertain. From modest beginnings Rogers has developed into a ‘formidable technology and media company’.
“At the heart of it, we connect people, businesses and communities to each other, and to the world around them. It’s why we wake up each and every day — to connect Canadians to a world of possibilities and the memorable moments that matter most in their lives.”
Striving to provide Canadians with the best
“Our customers and audiences come first. We strive to always be clear, simple and fair as we connect them to the people and things that matter most.”
Networks & 5G
Via its network and 5G capabilities Rogers strives to connect Canadians across the country’ trusted networks, and leading the way when it comes to 5G technology innovation.
“Our reliable network connects Canadians to what matters, from family check-ins to life-saving 911 emergency services. Backed by innovative partnerships, we are leading the way with 5G.”
Being one of the first national carriers to introduce ‘worry-free’ unlimited data plans across the country, Rogers is paving the way when it comes to 5G connectivity, via its three wireless brands - Rogers, Fido and Chatr.
“We offer choice and enable connection – to family, to friends, to experiences – so that everything that matters is in the palm of your hand.”
As part of its services Rogers provides its customers looking to connect their home with dependable and personalised WiFi. “Connected home brings seamless, simple technology for your lifestyle.”
In support of filmmakers and the power of documentary, Rogers provides its industry leading content platform known as ‘Rogers Sports & Media’s suite’ that entertains, informs and engages Canadians.
Built on ‘the dream of a pioneering entrepreneur’, Rogers drives that spirit within its services in order to help organisations power their business and drive innovation. Rogers is committed to investing in technologies and infrastructure to serve its business customers.
“At Rogers, the entrepreneurial spirit is part of our DNA. Ever since our founder Ted Rogers took out a small loan to purchase Canada’s first FM radio station, we’ve been committed to fostering the growth of Canadian business.”
Rogers’ response to COVID-19
“We know that there is a lot of uncertainty in your daily life right now. One of the things you don’t have to worry about is staying connected.”
By harnessing its 60 years of experience, Rogers is continuously supporting people, communities and businesses in Canada to move #ForwardTogether and maintain connectivity to the information and technology needed.
Tech Corporations Fight for Alternative ESG Filings
In 2021, almost a third of global equity inflow went into ESG funds, according to the Bank of America. In April alone, ESG assets hit US$1.4tn, growing at 3x the rate of non-ESG funds. And although it seems like solar panel and electric car firms should take the cake for sustainable investment, it’s actually the world’s largest tech firms that command the market.
The Wall Street Journal reported that the most commonly held S&P 500 stocks in actively managed sustainable equity funds include Microsoft, Alphabet, and Apple. So it struck many as odd that in a June 11th letter to the Securities and Exchange Commission (SEC), Alphabet requested that ESG information not be disclosed in annual 10k filings.
Who Signed The Letter?
Only some of the most influential tech giants in the world...
To be fair, these companies aren’t against ESG and sustainable business. ‘Collectively, we purchase more than 21 gigawatts of clean energy and many of us are members of the UN Race to Zero and America is All In campaigns’, the joint letter to the SEC stated. ‘Each company has an individual goal to procure 100% renewable energy’.
Then Why Protest?
According to the tech companies, filing ESG information might open them up to legal risks. After all, sustainability reporting relies on estimates and assumptions that involve uncertainty—and governance issues such as fair labour are much harder to track than annual financial data. ‘It is important not to subject companies to undue liability’, the companies wrote.
Instead of reporting ESG data in their annual 10k filings, Alphabet et. al suggest that the SEC should allow for new climate-related reporting outside of the current annual or quarterly schedules. By adjusting the reporting frequency and timing, they argue, companies can provide a better and more accurate measure of how they’re doing with ESG.
Who Opposes Alternative ESG Reporting?
For the most part, asset managers aren’t thrilled. Pimco, Invesco, and other major asset funds want ESG information disclosed—the standard way. As of right now, the SEC still intends to make ESG 10k filings mandatory. ‘[Alphabet] positions itself as a sustainability leader’, said Josh Zinner, CEO of the Interfaith Centre on Corporate Responsibility. Added Molly Betounray, Director of Shareholder Advocacy at Clean Yield Asset Management: ‘While it’s great to see corporate ESG leaders advocating for climate disclosure standards, we disagree with their assertion that these disclosures should fall outside current standard SEC filings’.
What’s the Verdict?
Maybe Alphabet, Amazon, and Intel are honestly trying to frame ESG reporting in a new light. As Patrick Flynn, Vice President for Sustainability at Salesforce said: ‘[ESG disclosure] is a new process for companies to go through, and they’ll need to establish new procedures. Allowing for some sort of safe harbour from liability…[allows] companies to push in willingly and not just do the bare minimum’.
In their letter to the SEC, these companies chose to recommend several concrete actions:
- Use a principles-based framework, akin to the Task Force on Climate-Related Financial Disclosures (TCFD)
- Base GHG emissions on global standards, such as the World Resources Institute GHG Protocol
- Leverage existing SEC frameworks to reduce the reporting burden
- Adjust the timing and frequency of ESG reporting
In short: before we mandate ESG reporting, the SEC should at least think twice about how to design it.