ATCO announces Strategic Environmental, Socia and Governance Targets for 2030

    You can use your smart phone to browse stories in the comfort of your hand. Simply browse this site on your smart phone.

    Using an RSS Reader you can access most recent stories and other feeds posted on this network.

    SNetwork Recent Stories

ATCO announces Strategic Environmental, Socia and Governance Targets for 2030

by ahnationtalk on January 19, 2022104 Views

CALGARY, AB, Jan. 18, 2022  – ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y)

Building upon its long track record of sustainability leadership, ATCO today announced a comprehensive set of 2030 environmental, social and governance (ESG) targets and a commitment to achieve net zero greenhouse gas (GHG) emissions by 2050. ATCO’s 2030 ESG targets include reducing its operational and customer emissions, growing its renewable energy footprint, increasing economic benefits for Indigenous partners, continuing its focus on safety, and further promoting diversity, equity, and inclusion in the workplace.

“For 75 years, the people of ATCO have pioneered innovative solutions at the forefront of global trends, generating value for our share owners and creating the conditions for our communities and customers to thrive,” said Nancy Southern, Chair & Chief Executive Officer, ATCO. “Our ambitious ESG targets reflect the same holistic perspective that has underpinned our growth for decades—one that considers not just near-term economic pressures but creates truly intergenerational, sustainable prosperity.”

ATCO’s ESG targets will allow the company to measure its progress in achieving its strategic goals of accelerating the energy transition, advancing Indigenous reconciliation, and supporting the communities it serves, while also supporting long-term growth. The company also remains committed to the highest health and safety standards and performance.

ATCO’s 2030 ESG targets include1:

Supporting the energy transition and reducing GHG emissions

  • Reducing net operational GHG emissions to earnings intensity by 30 per cent (Scope 1 and 2).
  • Reducing our customers’ GHG emissions by 2 million tonnes through continued participation in renewable energy, clean fuels, energy efficiency, and energy infrastructure projects.
  • Owning, developing, or managing over 1,000 MW of renewable energy.
  • Deriving 20 per cent of revenues from transitional product categories (e.g., renewable natural gas and hydrogen).

1 As measured against a 2020 baseline.

Promoting inclusive growth in our workforce and communities

  • Increasing net economic benefits to our Indigenous partners by 40 per cent. Net economic benefits to Indigenous partners capture unique benefits ranging from partnership earnings and Indigenous procurement to liaison work, fees and permits.
  • Achieving and maintaining a minimum of 30 per cent female representation at the Board of Director and senior leadership levels.
  • Achieving and maintaining a minimum of 25 per cent minority representation within the ATCO Group workforce.
  • Maintaining leading health and safety practices and performance.

ATCO’s 2050 Commitment

ATCO’s 2050 net zero commitment builds upon the company’s significant progress in recent years in decarbonizing its portfolio, including a 90 per cent reduction in operational GHG emissions from 2019 to 2020 realized primarily through the sale of Canadian Utilities’ fossil fuel-based electricity generation portfolio as well as reductions in its retained assets. ATCO is actively pursuing several pathways to further reduce its operational emissions, as well as its customers’ emissions, by accelerating the deployment and use of clean hydrogen, energy storage, renewable electricity, and energy efficiency technologies. In support of its net zero commitment, ATCO is also working with all levels of government to advocate for enabling policy and regulation, and to identify barriers that impede cost-effective, economy-wide decarbonization.

“Achieving net zero by 2050 is a societal challenge that no individual, business, or government can solve on its own. It will require unprecedented collaboration among all constituents, as well as an informed, pragmatic, and affordable roadmap from policymakers to unlock the necessary scale and pace of private sector investment and expertise,” adds Southern. “With operations across the energy value chain, ATCO will be a leader in driving the energy transition towards cleaner fuels and electricity, without sacrificing the safety, reliability, and affordability of energy that our customers rely on.”

ATCO continues to evaluate further ESG targets and conduct additional analysis with respect to the company’s 2050 net zero commitment. Additional information and progress towards ATCO’s ESG targets will be included in the company’s annual Sustainability Report.

ATCO’s Commitment to Sustainability

For ATCO, sustainability is more than an aspiration; it is interwoven into our strategy, our day-to-day operations, the products and services we provide, and the fabric of our people. It manifests across our family of companies in countless ways, both in how we conduct our day-to-day activities and in the contributions we make to society through both our operations and the community spirit of our people. Our enduring and holistic commitment is clearly reflected in our efforts to cost-effectively and reliably accelerate the energy transition; enhance our environmental performance and reduce our greenhouse gas emissions; champion the safety, inclusivity, and equity of our people, communities, and customers; foster Indigenous and community partnerships based on trust, equity and mutual respect; and ensure uninterrupted, resilient, and reliable access to essential products and services—anytime, anywhere.

To learn more about how ATCO delivers reliable, sustainability energy solutions, or to read our 2020 Sustainability Report, please click here.

With approximately 6,200 employees and assets of $22 billion, ATCO is a diversified global corporation with investments in the essential services of Structures & Logistics (workforce and residential housing, innovative modular facilities, construction, site support services, workforce lodging services, facility operations and maintenance, defence operations services, and disaster and emergency management services); Utilities (electricity and natural gas transmission and distribution, and international electricity operations); Energy Infrastructure (electricity generation, energy storage and industrial water solutions); Retail Energy (electricity and natural gas retail sales); Transportation (ports and transportation logistics); and Commercial Real Estate. More information can be found at www.ATCO.com.

Investor Inquiries:
Colin Jackson
Senior Vice President, Finance, Treasury, Risk & Sustainability
403 808 2636
[email protected]

Media Inquiries:
Kurt Kadatz
Senior Manager, Corporate Communications
587 228 4571
[email protected]

NT5

Send To Friend Email Print Story

Comments are closed.

NationTalk Partners & Sponsors Learn More