CALGARY, AB,
April 28, 2022 /CNW/
- ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y) / Canadian
Utilities Limited (TSX: CU) (TSX: CU.X)
Building on its recently announced environmental, social and
governance (ESG) targets and its commitment to net-zero emissions
by 2050, today, ATCO released its 2021 Sustainability Report.
Highlights include progress and key achievements in energy
transition, climate change and environmental stewardship,
operational reliability and resilience, community and Indigenous
relations, diversity, equity and inclusion, and safety.
"Our 2021 Sustainability Report showcases the accomplishments of
our talented people who lead the energy transition, provide safe
and reliable essential services, and support the communities where
we are privileged to operate," said Nancy
Southern, Chair & Chief Executive Officer, ATCO Ltd and
Canadian Utilities Limited. "As has been our course for more than
seven decades, we will continue to build a resilient business that
is diverse in its operations but integrated in its focus on
sustainability."
Highlights of ATCO's 2021 sustainability performance
include:
- Growing renewable energy footprint with three new solar
projects in Alberta. The projects
leverage ATCO's solar expertise from recently completed projects in
Fort Chipewyan, Alberta, and
Old Crow, Yukon.
- Ongoing investment in cleaner fuels, including partnering with
Suncor on a potential world-scale hydrogen project in Alberta, and blending hydrogen into a portion
of the natural gas transmission system in Fort Saskatchewan, Alberta.
- Building on the successful blending of up to 10 per cent
renewable hydrogen at our Clean Energy Innovation Hub in
Western Australia, our Clean
Energy Innovation Park will soon generate renewable hydrogen
through solar-powered electrolysis, also in Western Australia.
- A 15 per cent reduction in direct greenhouse gas (GHG)
emissions, and a 13 per cent reduction in GHG emissions intensity
from 2020 to 2021.
- Formation of an enterprise-wide diversity, equity and inclusion
(DEI) council, not only to complement existing grassroots
committees, but to play an important role in our ongoing efforts to
be a leader in DEI and attract and retain the best and brightest in
our workforce.
- Continued focus on fostering a safety-first culture, with new
targeted training programs and an increase in proactive reporting
that helped improve our safety performance.
- Advancement of key Indigenous partnerships, including a new
10-year contract for Uqsuq Corporation and a new contract starting
in 2022 for Nasittuq Corporation to operate and maintain the North
Warning System.
- Pledging more than $3 million to
support hundreds of community charities through our annual ATCO
EPIC (Employees Participating in Communities) campaign, taking the
program's cumulative fundraising total to over $50 million since its inception in 2006.
For additional information, see ATCO's 2021 Sustainability
Report that is available here. To learn more about ATCO's
commitment to sustainability, please visit Our Commitment on
atco.com.
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 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.
Building upon our long track record of sustainability
leadership, ATCO has a comprehensive set of 2030 ESG targets and a
commitment to achieve net zero GHG emissions by 2050. ATCO's 2030
ESG targets include reducing our operational and customer
emissions, growing our renewable energy footprint, increasing
economic benefits for Indigenous partners, continuing our focus on
safety, and further promoting diversity, equity, and inclusion in
the workplace.
With approximately 6,400 employees and assets of $23 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 & Analyst Inquiries:
Colin Jackson
Senior Vice President, Finance, Treasury, Risk &
Sustainability
Colin.Jackson@atco.com
(403) 808 2636
Media Inquiries:
Kurt Kadatz
Director, Corporate Communications
Kurt.Kadatz@atco.com
(587) 228 4571
Forward-Looking Information
Certain statements contained in this news release constitute
forward-looking information. Forward-looking information is often,
but not always, identified by the use of words such as "plan",
"expect", "will", "intend", "potential" "goals", "targets",
"strategy", "objectives", "aspirations", "commitments", and similar
expressions. In particular, forward-looking information in this
news release includes, but is not limited to references to general
strategic plans, goals and targets; the commitment to achieve net
zero GHG emissions by 2050;the 2030 ESG targets that are described
herein; facilities to be built, planned construction and potential
projects; and the production of hydrogen.
Although we believe that the expectations reflected in the
forward-looking information are reasonable based on the information
available at the date hereof and the processes used to prepare the
information, such statements are not guarantees of future
performance and no assurance can be given that these expectations
will prove to be correct. Forward-looking information should not be
unduly relied upon. By their nature, these statements involve a
variety of assumptions, known and unknown risks and uncertainties,
and other factors, which may cause actual results, levels of
activity, and achievements to differ materially from those
anticipated in such forward-looking information. The
forward-looking information reflects our beliefs and assumptions
with respect to, among other things, the ability to successfully
achieve our net zero GHG target by 2050; the development and
performance of technology and technological innovations; the
ability to access and implement technology necessary to achieve GHG
and other ESG targets; continuing collaboration with certain
government agencies, regulatory bodies and environmental groups;
the performance of assets and equipment; future energy demand and
use; future production rates; future revenue and earnings; the
ability to meet current project schedules; and other assumptions
inherent in our expectations in respect of the forward-looking
information identified herein.
Actual results could differ materially from those anticipated in
this forward-looking information as a result of, among other
things, risks inherent in the performance of assets; capital
efficiencies and cost savings; applicable laws and government
policies; regulatory decisions; competitive factors in the
industries in which we operate; prevailing economic conditions;
credit risk; interest rate fluctuations; the availability and cost
of labour, materials, services, and infrastructure; the development
and execution of projects; prices of electricity, natural gas,
natural gas liquids, and renewable energy; the development and
performance of technology and new energy efficient products,
services, and programs, including but not limited to the use of
zero-emission and renewable fuels, carbon capture, and storage,
electrification of equipment powered by zero-emission energy
sources and utilization and availability of carbon offsets; the
occurrence of unexpected events such as fires, severe weather
conditions, explosions, blow-outs, equipment failures,
transportation incidents, and other accidents or similar events;
and other risk factors, many of which are beyond our control. Due
to the interdependencies and correlation of these factors, the
impact of any one material assumption or risk on a forward-looking
statement cannot be determined with certainty. Readers are
cautioned that the foregoing lists are not exhaustive. For
additional information about the principal risks that ATCO faces,
see "Business Risks and Risk Management" in ATCO Ltd.'s
Management's Discussion and Analysis for the year-ended
December 31, 2021, which is available
at www.sedar.com and ATCO.com. Any forward-looking information
contained in this news release represents our expectations as of
the date hereof, and is subject to change after such date. We
disclaim any intention or obligation to update or revise
forward-looking information whether as a result of new information,
future events or otherwise, except as required by applicable
securities regulations.
Reporting Boundaries
The terms "ATCO", "we and "our" refer to ATCO Ltd. as a whole,
including its subsidiary companies, Canadian Utilities Limited and
CU Inc.
SOURCE ATCO Ltd.