TORONTO, April 21,
2023 /CNW/ - Aecon Group Inc. (TSX: ARE) ("Aecon" or
the "Company") today released its fourth annual Sustainability
Report, outlining its progress and goals in its Environmental,
Social and Governance (ESG) practices.
"Our fourth annual Sustainability Report highlights our
commitment to sustainability in what we build and how
we build it, as we continue moving forward with a strategic focus
on decarbonizing energy systems in support of a net zero future,"
said Jean-Louis Servranckx,
President and Chief Executive Officer, Aecon Group Inc.
What we build and how we build are evolving: Aecon is
building infrastructure projects that are helping drive the
transition to a net zero future. Aecon has adapted the structure of
its business by establishing a single point of entry to its
sustainability capabilities in three key areas – climate change
adaption, pathways to net zero, and sustainable construction –
offering integrated project management throughout a project's
lifecycle to assist clients in navigating the complexities of
decarbonization and energy transition opportunities. Aecon is also
focused on how it builds and continues to expand its expertise in
sustainable construction practices by adopting zero-emission
equipment and piloting new technologies such as low carbon
construction materials.
Highlights of the report include accomplishments in the
following key areas of focus:
- Environment: Aecon strives for continuous improvement in
the environmental performance of its operations and continued
developing processes to minimize waste, greenhouse gas (GHG)
emissions, and other environmental impacts. Aecon adopted
recognized environmental management practices and standards
including the Envision framework – an increasingly important
standard to guide performance in sustainable construction. Aecon
continues its focus on achieving its GHG emissions reduction goals,
including a 30% reduction in direct CO2 emissions on an
intensity basis (scopes 1 and 2) by 2030 as compared to 2020 and
net zero (scopes 1, 2 and 3) by 2050.
- Social: Aecon released its inaugural Reconciliation
Action Plan, outlining its commitment to engaging in reconciliation
across its operations together with Indigenous Peoples, and
established new Indigenous-led joint ventures. Aecon procured
$233 million of Indigenous goods and
services – its highest annual total – and advanced its efforts to
train new workers from historically underrepresented groups in
construction including through the Aecon Women in Trades (AWIT)
program and the Aecon-Golden Mile (A-GM) community-owned joint
venture. Aecon also continued implementing its Fatal 8
safety program focused on eight specific activities workers perform
that present elevated risks.
- Governance: Aecon's commitment to ESG extends to its
supply chain. An ESG screening survey was introduced for preferred
suppliers, with a goal of having 100% of preferred suppliers
screened by 2025. Oversight of sustainability matters was moved
from the Risk Committee to the entire Board of Directors, and
Aecon's sustainability expertise now falls under the umbrella of a
larger division that oversees and addresses all stakeholder
relations, creating cohesion in organizational communication and
relationship management.
Aecon was pleased to commence new projects linked to the energy
transition – from advanced transit networks and geothermal energy
solutions to utility-scale energy systems and green home energy
technology, including a new energy-as-a-service partnership with
Enbridge that offers dependable and convenient energy solutions for
homeowners, developers and commercial customers in Ontario.
"Aecon is proud to help build a sustainable future through
electrified mass transit projects, new low carbon energy solutions
and resilient community infrastructure to support thriving
communities," said Eric MacDonald,
Executive Vice President, Utilities, Aecon Group Inc. "For years,
we've been investing to ensure that we're ready to help clients
navigate the energy transition."
The complete report is available on Aecon's website at
www.aecon.com/sustainability and on SEDAR at
www.sedar.com.
About Aecon
Aecon Group Inc. (TSX: ARE) is a national Canadian construction
and infrastructure development company with global experience and
is proud to be recognized as one of the Best 50 Corporate Citizens
in Canada. Aecon delivers
integrated solutions to private and public-sector clients through
its Construction segment in the Civil, Urban Transportation,
Nuclear, Utility and Industrial sectors, and provides project
development, financing, investment and management services through
its Concessions segment. Join our online community on Twitter,
LinkedIn, Facebook and Instagram @AeconGroupInc.
Statement on Forward-Looking
Information
The information in this press release includes certain
forward-looking statements which may constitute
forward-looking information under applicable securities laws. These
forward-looking statements are based on currently available
competitive, financial and economic data and operating plans but
are subject to risks and uncertainties. Forward-looking statements
may include, without limitation, statements regarding the
operations, business, financial condition, expected financial
results, performance, prospects, ongoing objectives, strategies and
outlook for Aecon, including statements regarding: Aecon's
strategic focus on clean energy and other projects linked to
sustainability and the opportunities arising therefrom; Aecon's
working with clients to help them meet their infrastructure needs
and harness the opportunities that are expected to come from the
transition to a net-zero economy; Aecon's greenhouse gas emission
reduction targets and means to accomplish such
targets; and communities sharing in the benefits and
opportunities associated with Aecon's work, including commitments
to publish information with respect to reconciliation and targets
regarding Indigenous suppliers. Aecon's Forward-looking
statements may in some cases be identified by words such as "may",
"will," "expects," "target," "future," "plans," "believes,"
"anticipates," "estimates," "projects," "intends," "should" or the
negative of these terms, or similar expressions. In addition to
events beyond Aecon's control, there are factors which could cause
actual or future results, performance or achievements to differ
materially from those expressed or inferred herein including, but
not limited to: the risk of not being able to accurately assess the
risks and opportunities related to its industry's transition to a
lower-carbon economy; the risk of not being able to oversee, and
where appropriate, respond to known and unknown environmental and
climate-change-related risks, including the ability to recognize
and adequately respond to climate change concerns or public,
governmental and other stakeholders' expectations on climate
matters; and the risk of not being able to meet its commitment to
meeting its greenhouse gas emissions reduction, Board diversity or
Indigenous supplier targets and various other risk
factors described in Aecon's filings with the securities regulatory
authorities which are available under Aecon's profile on SEDAR
(www.sedar.com) including the risk factors described
in Section 13 - "Risk Factors" in Aecon's December 31, 2022 Management's Discussion and
Analysis filed on SEDAR (www.sedar.com) on February 28, 2023.
These forward-looking statements are based on a variety of
factors and assumptions including, but not limited to that: none of
the risks identified above materialize, there are no unforeseen
changes to economic and market conditions, and no significant
events occur outside the ordinary course of business. These
assumptions are based on information currently available to Aecon,
including information obtained from third-party sources. While the
Company believes that such third-party sources are reliable sources
of information, the Company has not independently verified the
information. The Company has not ascertained the validity or
accuracy of the underlying economic assumptions contained in such
information from third-party sources.
Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and Aecon undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
SOURCE Aecon Group Inc.