Enbridge releases its 21st Sustainability Report
The company describes its progress toward goals and plans for continuous improvement in ESG areas.
Enbridge Inc. today released its 21st annual Sustainability Report (Report), which provides stakeholders with information about the Company's ongoing efforts to improve its environmental, social, and governance (ESG) performance.
"In many ways, the announcement of Enbridge's ESG goals in 2020 galvanized our organization's progress as a company,"
said Pete Sheffield, Enbridge Vice-President and Chief Sustainability Officer.
"The 2021 Sustainability Report demonstrates tangible progress toward the ESG goals we set for ourselves. We knew they were ambitious, but we are up for the challenge, and our early progress shows our dedication."
Enbridge has long regarded environmental and social factors, as well as strong governance and accountability, as critical to its success, and 2021 was a watershed moment in this regard. Enbridge was the first midstream company in Canada to commit to achieving net-zero greenhouse gas (GHG) emissions by 2050, with the interim goal of reducing emissions intensity by 35% by 2030. Enbridge has linked achievement of the goals to executive and employee compensation and issued $3 billion in sustainability-linked bonds that tie borrowing costs to meeting emission reduction targets in order to hold itself accountable.
This year's Report is available online and is user-friendly and interactive. It reports on progress toward the ESG goals Enbridge announced in late 2020, including plans to reduce greenhouse gas emissions and increase workforce diversity.
The Report also includes, for the first time in accordance with the Task Force on Climate-Related Financial Disclosure, a net-zero scenario analysis to test Enbridge's business resiliency against global warming of 1.5 degrees Celsius above preindustrial levels. This critical assessment validates Enbridge's diverse energy mix, early entry into lower-emission investments, and financial strength, which create strategic flexibility and position Enbridge to be resilient in any scenario.
Enbridge is the industry leader in tracking and reporting Scope 3 emissions, including metrics that track the emission intensity of the energy it provides and the impact of low-carbon investments on global emissions. Enbridge is committed to continuing to collaborate with third parties to improve reporting frameworks for these types of emissions.
Source: Enbridge news