VANCOUVER, BC, July 19,
2023 /PRNewswire/ - Ballard Power Systems (NASDAQ:
BLDP) (TSX: BLDP) today announced the publication of its fourth
annual Environmental, Social, and Governance (ESG) Report. Built
around Ballard's purpose of Here for LifeTM, the
report highlights the company's 2022 performance across the
dimensions of environmental, social, and governance and
demonstrates an ongoing commitment to transparency and
environmental leadership in the fuel cell industry.
The report captures the first year of focused action resulting
from our ESG strategy and the pursuit of Ballard's sustainability
commitments and supporting initiatives. Related information
regarding Ballard's ESG governance, risk management, and
performance are also outlined within this report.
Highlights from the 2022 ESG Report include:
- Continued improvement in overall ESG research ratings
- In 2022, Ballard fuel cell technology prevented ~53 million
gallons of consumed diesel, avoiding ~540,000
tCO2e1
- 20% emissions intensity decline since 2019 across reported
scope 1, scope 2, and scope 3 emissions
- Outline of the Company's carbon neutral by 2030 plan, including
key goals for driving decarbonization of corporate emissions
- 88% annual employee retention rate
- Increased women representation at the senior leadership level
by 14% since 2019
- Taught more than 125,000 students hydrogen fuel cell technology
through Ballard's Hydrogen Challenge Education Program
- 63% decrease in lost-time injury rate year over year
- 93% of total operating waste was recycled
- Established a board delegated Sustainabiliy and Governance
Committee for strengthened oversight of ESG performance
"At Ballard, we are commercialzing innovative solutions that put
hydrogen-powered fuel cell products into the hands of our
customers, aiding in the quest to achieve global net zero by 2050
and limit global temperature rise to 1.5 degrees Celsius," stated
Randy MacEwen, Ballard's President
& CEO. "The combination of Ballard's zero-emission fuel cell
products, sustainability-based business model, committed workforce,
and strong governance practices enables the Company to create
long-term value for shareholders while contributing to the
decarbonization of the mobility and stationary power sectors."
Jennifer Nakata, Ballard's
Director, Environmental, Social, and Governance, added: "in 2022,
we accelerated our decarbonization activities by establishing a
roadmap and implementation plan for how Ballard will achieve carbon
neutrality for corporate emissions by 2030. This plan outlines the
priority actions, investments, timing, and policies needed to
decouple our business growth from emissions growth. We also
continued to develop Ballard as a great place to work, with a work
environment that is diverse, equitable, and inclusive."
_______________________________________
1 Based on company's current business plans and the
current business environment, which are subject to change. Actual
results may differ materially.
|
|
Ballard is committed to ESG reporting best practices. For its
2022 ESG Report, Ballard aligned its disclosures to the
internationally recognized ESG reporting standards of the Global
Reporting Initiative (GRI) and the Sustainability Accounting
Standards Board (SASB) under the sector standard for 'Fuel Cell and
Industrial Batteries'.
To view Ballard's 2022 ESG Report, and for more information
regarding the Company's sustainability commitments, please visit
www.ballard.com/about-ballard/our-sustainability
About Ballard Power
Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to
deliver fuel cell power for a sustainable planet. Ballard
zero-emission PEM fuel cells are enabling electrification of
mobility, including buses, commercial trucks, trains, marine
vessels, and stationary power. To learn more about Ballard, please
visit www.ballard.com.
This release contains forward-looking statements concerning
anticipated performance and environmental impact of our products.
These forward-looking statements reflect Ballard's current
expectations as contemplated under section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Any such forward-looking statements are
based on Ballard's assumptions relating to its financial forecasts
and expectations regarding its product development efforts,
manufacturing capacity, and market demand.
These statements involve risks and uncertainties that may cause
Ballard's actual results to be materially different, including
general economic and regulatory changes, detrimental reliance on
third parties, successfully achieving our business plans and
achieving and sustaining profitability. For a detailed discussion
of these and other risk factors that could affect Ballard's future
performance, please refer to Ballard's most recent Annual
Information Form. Readers should not place undue reliance on
Ballard's forward-looking statements and Ballard assumes no
obligation to update or release any revisions to these
forward-looking statements, other than as required under applicable
legislation.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ballard-publishes-its-environmental-social-and-governance-report-for-2022-301880695.html
SOURCE Ballard Power Systems Inc.