LGM achieves platinum status in Social Purpose Transition Pathway Report

April 8, 2022
Press Releases

Vancouver, BC – LGM Financial Services Inc. (LGM), one of Canada’s leading Finance and Insurance (F&I) providers, today announced that they have reached platinum status in Corporate Knights’ recent Social Purpose Transition Pathway: Helping Companies Move from “Say” to “Do” report. LGM is joined by 34 other Social Purpose Businesses in the report, all looking to create a better world through business.

In partnership with the United Way’s Social Purpose Institute, Corporate Knights developed the world’s first rating system to assess companies’ Social Purpose implementation. Using a score-based rating, Corporate Knights provided the companies involved with an overall score and then divided them into four quartiles: platinum, gold, silver, and bronze. The key findings from the study were released in a detailed report, with the goal of inspiring continuous improvement and a standardized approach to social purpose implementation.

“We were pleased to see LGM made the cut for inclusion in our latest report: The Social Purpose Transition Pathway. LGM was selected from an initial sample of 197 businesses and is featured in this report as one out of only 34 businesses who have stated a clear societal purpose. While we are at the frontier of social purpose execution, each of these 34 businesses is taking steps to help put society on a sustainable path,” said Toby Heaps, CEO and Co-founder of Corporate Knights.

In March 2021, LGM first announced their commitment to their social purpose, “To Accelerate Responsible Mobility for All” demonstrating their passion for being a responsible and purpose driven company. Since their announcement, LGM has completed numerous initiatives to help move the needle on their contribution to a better tomorrow. Recent accomplishments include investing fifty percent of their reserve in an Environmental, Social, and Governance (ESG) investments, a focused initiative to significantly reduce the volume of paper used in dealerships and made several charitable donations to support causes in alignment to their mission.

“We recognize the importance of mobility within society and want to be a catalyst for change in the automotive industry so that we can have a positive societal and environmental impact.” said Drew Collier, President and CEO of LGM. “We were eager to be a part of this study as we are continuously seeking out areas of improvement. Achieving platinum status in the Social Purpose Transition Pathway report is exciting because it recognizes all our accomplishments while helping us learn which areas we should focus on next.”

To read the full Social Purpose Transition pathway report, click here.

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About LGM Financial Services

LGM Financial Services (LGM) is a leader in Canada’s automotive space, focused on revolutionizing the consumer automotive experience through technology, transparency, and sustainability. Since 1998, LGM has been providing branded Finance and Insurance (F&I) products to distinguished automotive manufacturers and dealers across the country. LGM works to maximize dealership performance and customer satisfaction through products that are backed by an elite F&I sales and training program, and a comprehensive claims and dealer support network. For future information visit www.LGM.ca.

About Corporate Knights

Corporate Knights Inc. (CK) includes a media division which publishes the award-winning business and society magazine Corporate Knights, and a research division which produces corporate rankings, research reports and financial product ratings based on corporate sustainability performance.