Meridian OneCap Champions ESG Excellence: Leading the Charge in Climate Finance and Community Impact

by Jan/Feb 2024


Meridian OneCap, a subsidiary of Meridian Credit Union, is a beacon in the Canadian equipment finance landscape with more than 20 years of experience. With regional offices in Vancouver, Toronto and Montreal, this subsidiary of Canada’s second-largest credit union provides vendor programs for manufacturers, distributors and dealers across the country.

ESG Intertwined with Policies
Meridian OneCap is deeply committed to minimizing its environmental impact, fostering social responsibility and upholding high governance standards. The company’s board and management prioritize long-term environmental and social impacts when shaping corporate decisions and policies. This commitment is reflected in a monthly ESG Scorecard that meticulously tracks the company’s ESG activities.

The leadership at Meridian OneCap demonstrates proactive engagement in environmental initiatives. They were early participants in the ELFA Climate Finance Working Group, contributing to industry education and resources. The company actively tracks climate-friendly financing activities and collaborates with partners to promote the transition to clean energy solutions.

Employee Engagement and Giving Program
Employees play a pivotal role in Meridian OneCap’s ESG initiatives. The company has partnered with Trees Canada for many years, planting a tree for every transaction funded, resulting in an ever-growing forest across Canada. Employees lead initiatives to support local charities, contributing to community welfare.

Meridian OneCap empowers its employees through a comprehensive giving program. Each employee has access to $1,500 annually to enhance the impact of their charity contributions. This includes matching donations to Canadian charities and Meridian OneCap’s contributions to organizations in exchange for an employee’s volunteer time. The company encourages a culture of frequent volunteering, allowing each employee to dedicate either a half or a full day to community service each quarter.

In response to global challenges, such as the Russian invasion of Ukraine, Meridian OneCap organized a fundraising event to support employees who had taken in displaced family members, showcasing a commitment to broader social causes.

ESG Goals and Initiatives
The company has established clear goals in the environmental, social and governance aspects:

  • Environmental / Sustainability goals:
    • Offering financing to facilitate transitions to cleaner energy equipment.
    • Enhancing emissions-tracking reporting for customers to be aware of their carbon footprint.
  • Social goals:
    • Providing financing to underserved Canadian business segments.
    • Supporting communities through employee-led initiatives.
  • Governance goals:
    • Adhering to diversity, equity, inclusion and belonging standards and practices.
    • Maintaining governance standards to operate with integrity.
    • Providing regular training on social and ethical practices.

ESG Advice for Equipment Finance Companies
Meridian OneCap believes ESG initiatives demonstrate the “Meridian for Good” strategy while attracting valuable employees motivated to work toward corporate goals for the betterment of clients, business and
the industry. The company addresses social challenges by supporting new Canadians and welcoming entrepreneurs displaced by conflicts.

The company supports climate change effects by collaborating with manufacturers in transition to environmentally friendly equipment across sectors and seeking low carbon solutions.

Doing Good Feels Good
An ESG ethos permeates the entire organization. Meridian OneCap invests in providing clients with information on the carbon impact of financed equipment, aligning with potential regulatory requirements. The company also emphasizes building a positive team, which contributes to the communities’ well-being.

Meridian OneCap exemplifies a commitment to ESG excellence, weaving environmental consciousness, social responsibility and high governance standards into the fabric of its operations. The company’s holistic approach, from leadership engagement to employee initiatives, positions it as a guiding force in ESG-driven equipment finance. •

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