CALGARY, Dec. 3, 2020 /CNW/ - Pembina Pipeline
Corporation ("Pembina", "our", "we" or "the Company") (TSX: PPL)
(NYSE: PBA) today released its 2020 Sustainability Report (the
"2020 Report"). This marks our second full-length report
outlining the Company's approach, recent performance and our future
initiatives for environmental, social and governance ("ESG")
factors that are most material to our stakeholders and
business. The 2020 Report details the Company's progress
since 2018 and further establishes Pembina's commitment to
continuous improvement in this area through the inclusion of
enhanced disclosures on additional metrics.
"As we continue our ESG journey, our focus will remain on
continuous improvement, transparency and engagement. Building upon
our strong foundation, we will seek to further integrate
sustainable business practices throughout the Company", said
Mick Dilger, Pembina's President and
Chief Executive Officer. "Today, I am pleased to announce the
addition of Janet Loduca, who has
joined Pembina as General Counsel and Vice President, Legal and
Sustainability. With over 30 years of legal, environmental,
regulatory and sustainability experience, Janet will be
instrumental in advancing our ESG priorities and developing a
long-term sustainability strategy", added Mr. Dilger.
Pembina recognizes the growing risks and opportunities of
climate change and the role our industry must play in reducing
greenhouse gas ("GHG") emissions while supplying the world with
affordable and reliable energy. As a company we are committed to
pursuing emissions reduction initiatives across our businesses. We
assess opportunities and employ new practices that can lower our
emissions footprint, including investing in co-generation
facilities. We recently completed the construction of a
co-generation facility at our Redwater Complex, which will reduce
our emissions intensity, and are evaluating similar opportunities
at other locations.
We have also launched a process to enhance ESG integration
across the Company, including establishing a governance framework
to develop a longer-term GHG strategy and emissions intensity
reduction targets. Our targets will guide business decisions, drive
emissions reductions and improve overall emissions intensity
performance, while increasing our long-term value and
resilience. Finally, we believe that linking compensation to
corporate performance on these important factors aligns with
long-term value creation and our stakeholders' interests. As
such, we are focused on redesigning our compensation methodologies
for 2021 with ESG performance as a significant component.
Sustainability Performance Highlights
- Working safely is a way of life at Pembina and our safety
record continues to exceed the industry average;
- Pembina is proud to once again be recognized as one of
Canada's Top 100 Employers;
- Demonstrated our support to the communities in which we have a
presence, with a direct investment of $10
million in 2019, a 30 percent increase over the prior
year;
- Increased the number of Aboriginal suppliers utilized in 2019,
a 32 percent jump over the prior year;
- Successfully leased and remediated a historically contaminated
site to create a key income generating asset, Pembina's Prince
Rupert Terminal, a propane export facility anticipated to be
in-service in 2021;
- Advanced the implementation strategy for our Carbon Stand as
well as our Inclusion and Diversity Stand; and
- Increased Board diversity with women now representing 36
percent of Pembina's Board of Directors.
For more information about our updated metrics and other
performance data, please find the Company's 2020 Report on
Pembina's website.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for more than 65 years. Pembina
owns an integrated system of pipelines that transport various
hydrocarbon liquids and natural gas products produced primarily in
western Canada. The Company also
owns gas gathering and processing facilities; an oil and natural
gas liquids infrastructure and logistics business; is growing an
export terminals business; and is currently developing a
petrochemical facility to convert propane into polypropylene.
Pembina's integrated assets and commercial operations along the
majority of the hydrocarbon value chain allow it to offer a full
spectrum of midstream and marketing services to the energy sector.
Pembina is committed to identifying additional opportunities to
connect hydrocarbon production to new demand locations through the
development of infrastructure that would extend Pembina's service
offering even further along the hydrocarbon value chain. These new
developments will contribute to ensuring that hydrocarbons produced
in the Western Canadian Sedimentary Basin and the other basins
where Pembina operates can reach the highest value markets
throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets:
- Customers choose us first for reliable and
value-added services;
- Investors receive sustainable industry-leading
total returns;
- Employees say we are the 'employer of choice' and
value our safe, respectful, collaborative and fair work culture;
and
- Communities welcome us and recognize the net
positive impact of our social and environmental commitment.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For
more information, visit www.pembina.com.
Forward-looking information and statements
This news release contains certain forward-looking statements
and information that are based on Pembina's expectations,
estimates, projections and assumptions considering its experience
and its perception of historical trends as well as current market
conditions and perceived business opportunities. In some cases,
forward-looking information can be identified by terminology such
as "will", "would", "estimates", "develop", "continue", "could",
"create", "believe", "commit", "focus" and similar expressions
suggesting future events or future performance.
In particular, this news release contains forward-looking
statements pertaining to, without limitation: plans to develop
greenhouse gas emissions targets; intended outcomes resulting from
the Carbon Stand; plans and strategies to improve environmental,
social and governance performance, including as such relates to the
timing of the development of compensation methodologies to
integrate ESG considerations; future opportunities related to
hydrocarbon production; anticipated development of and in-service
dates for growth projects; further expansion opportunities; and
anticipated community and economic benefits of growth
projects.
Undue reliance should not be placed on these forward-looking
statements and information as they are based on assumptions made by
Pembina as of the date hereof regarding, among other things: oil
and gas industry exploration and development activity levels and
the geographic region of such activity; that the technology
available to the company will be sufficient to achieve GHG
emissions targets; the success of Pembina's operations; that
Pembina's future results of operations will be consistent with past
performance and management expectations in relation thereto; broad
compliance with Pembina's plans, strategies, programs and goals
across its reporting and monitoring systems among its employees,
stakeholders and service providers; the continued availability of
capital at attractive prices to fund future capital requirements
relating to existing assets and projects; the willingness of
Aboriginal and Tribal stakeholders to engage in consultation and
reconciliation efforts; the success of growth projects; the
availability of data, samples and information necessary to develop
and evaluate targets, goals, programs and strategies; that
counterparties to agreements will continue to perform their
obligations in a timely manner; that there are no unforeseen
material construction or other costs related current projects or
operations; prevailing regulatory, tax, and environmental laws and
regulations; and the amount of future liabilities relating to
lawsuits and environmental incidents and the availability of
coverage under Pembina's insurance policies.
While Pembina believes the expectations and assumptions
reflected in these forward-looking statements are reasonable as of
the date hereof, there can be no assurance that they will prove to
be correct. Forward-looking statements are subject to known and
unknown risks and uncertainties which may cause actual performance
and financial results to differ materially from the results
expressed or implied, including but not limited to: the regulatory
environment and decisions, and Aboriginal and landowner
consultation requirements; the failure to realize the benefits or
synergies from acquired assets; reliance on third parties to
successfully operate and maintain certain assets; labour, human
capital and material shortages; reliance on key relationship and
agreements and the outcome of stakeholder engagement; the strength
and operations of the oil and natural gas industry and related
commodity prices; non-performance or default by counterparties to
agreement which Pembina or one or more of its subsidiaries has
entered into in respect of its business; actions by joint venture
partners or other partners which hold interests in certain of
Pembina's assets; actions by governmental and regulatory
authorities, including changes in regulatory processes or increased
environmental regulation; fluctuations in operating results;
adverse general economic and market conditions in Canada, North
America and worldwide; risks related to the current and
potential impacts of the COVID-19 pandemic and depressed commodity
prices; constraints on, or the unavailability of adequate
infrastructure and technology; changes in the political
environment, in North America and
elsewhere, and public opinion; ability to access sources of debt
and equity capital; changes in credit ratings; technology and
security risks including cyber-security risks; and natural
catastrophes.
Additional information on these factors as well as other
risks that could impact Pembina's operational and financial results
are contained in Pembina's annual information form and annual
management discussion and analysis (MD&A) for the year ended
December 31, 2019, and Pembina's
interim MD&A for the three and nine months ended September 30, 2020 and described in our public
filings available in Canada at
www.sedar.com and in the
United States at www.sec.gov. Readers are
cautioned that this list of risk factors should not be construed as
exhaustive.
The forward-looking statements contained in this news release
speak only as of the date of this news release. Except as expressly
required by applicable securities laws, Pembina and its
subsidiaries assume no obligation to update forward-looking
statements and information should circumstances or management's
expectations, estimates, projections or assumptions change. The
forward-looking statements contained in this document are expressly
qualified by this cautionary statement.
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SOURCE Pembina Pipeline Corporation