Desjardins Group, now a major partner of Propulsion Québec

Montreal, May 19, 2021 — Propulsion Québec, the cluster for electric and smart transportation (EST), is pleased to announce a new partnership with Desjardins, Canada’s leading cooperative financial group. This one-year partnership will support Desjardins Group’s sustainable development policy objectives tied to sustainable and connected mobility.

For over 30 years, Desjardins has upheld the principles of sustainable development, specifically the need to take action on climate change. The financial cooperative’s commitments include promoting the electrification of its own vehicles and those of its members and clients. To this end, more than 270 electric vehicle charging stations have been installed in the parking lots of caisses and corporate buildings across Quebec and Ontario.

On April 22 Desjardins Group also announced an action plan aimed at achieving net zero emissions by 2040 in its extended operations and its lending and investment activities in three key carbon-intensive sectors: energy, transportation, and real estate. It is taking concrete steps to reach this goal, such as building a $2 billion portfolio of renewable energy infrastructure investments and providing mandatory sustainability training by 2023 to 85% of its some 49,000 employees so they are better able to support members and clients.

As a major partner of Propulsion Québec, Desjardins Group will back all of the cluster’s actions and initiatives to promote the growth and success of Quebec’s electric and smart transportation ecosystem. Specifically, Desjardins will be sponsoring a study on private financing in the electric and smart transportation sector that will look at growth phases and timing in the industry.

Desjardins Group is the largest cooperative financial group in North America and the fifth largest in the world, with assets of $377 billion. In 2020 it was ranked as one of the world’s Top 100 Employers by Forbes magazine. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms, and subsidiaries across Canada. Ranked among the world’s strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.

Quebec’s smart and electric transportation cluster rallies the entire sector around joint projects aimed at positioning Quebec as a leader in developing and implementing land transportation systems that promote smart and electric transportation. Created in 2017, Propulsion Québec has close to 215 members from a variety of sectors and deploys its resources across six distinct working groups to develop and support innovative projects. The cluster receives financial support from the Government of Quebec, the Government of Canada, Communauté métropolitaine de Montréal (CMM), ATTRIX, Desjardins Group, Fonds de solidarité FTQ, Hydro-Québec, and Québecor.