TC Energy showcases ESG initiatives at inaugural forum
June 14 2022 - 7:30AM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or
the Company) today will showcase the Company’s progress on
Environmental, Social and Governance (ESG) matters at its inaugural
ESG Forum.
The Company continues to take deliberate and defined action to
achieve its sustainability goals, including its climate-related
goals to reduce emissions intensity from operations 30 per cent by
2030 and to position to achieve net zero emissions by 2050. Some of
the Company’s latest ESG highlights include:
- Joined the UN Global Compact – the world’s largest corporate
sustainability initiative that is aligning companies’ actions with
universal principles on human rights, labour, the environment and
anti-corruption.
- Appointed Cheryl Campbell as a new independent Director to the
Board on June 7, 2022 – Cheryl brings extensive experience in the
midstream energy sector and is the Company’s fifth female Board
member. This brings TC Energy’s female Board representation to 38
per cent, exceeding its 30 per cent target.
- And, this week, the Company will begin off-taking renewable
power under a new power purchase agreement (PPA) with Elemental
Energy, whose new 20 MW solar power generation facility in
Strathmore, Alberta, starts operations on June 15. Our 15-year PPA
further enhances TC Energy’s suite of low-carbon product offerings
to our customer base in Alberta.
Today’s event will include presentations from François Poirier,
President & CEO, other members of the executive leadership
team, and leaders at the forefront of the Company’s energy
transition strategy.
Comments from François Poirier, President and
CEO“The challenge we face globally is to achieve a
transition to cleaner energy while meeting the world’s ongoing
demand and prioritizing a strong commitment to all ESG pillars.
Because of our dominant incumbent position, energy transition is a
significant catalyst for our next wave of growth. We have an
immense opportunity to leverage our competitive strengths and be a
leader in finding solutions.
“We are also further embedding ESG into our strategy and
decision making. We are finding meaningful ways to work with
stakeholders and communities, attract top talent and empower our
people – all while continuing to deliver sustainable shareholder
returns and long-term value.”
Significant advancements across the ESG
spectrumIn the first half of 2022, TC Energy has made
additional advancements towards ESG and energy transition goals
including:
Environmental
- Began evaluating a plan for a hydrogen production hub in
Crossfield, Alberta, together with partner Nikola Corporation
(Nasdaq: NKLA). The Company highlighted its plan during the
first-ever Canadian Hydrogen Convention in Edmonton, Alberta, in
April.
- Initiated a collaboration with GreenGasUSA to explore
development of transportation hubs for renewable natural gas (RNG)
from sources including farms, wastewater treatment facilities and
landfills.
- Advanced the proposed Alberta Carbon Grid (ACG) project, a
collaboration with Pembina Pipeline Corporation (TSX: PPL). In
March, the Government of Alberta confirmed that the ACG project
will move forward into the next stages of the province’s CCUS
process.
- Continued investing in emerging technologies such as Carbon
Clean’s innovative carbon capture technology for heavy industry.
The Company views the Carbon Clean technology as highly promising
to reduce GHG emissions on many of its current assets.
- Continued to progress a $25 billion secured capital program,
which includes projects to modernize and electrify current systems,
displace higher emissions fuel sources with cleaner-burning natural
gas, and provide enhanced access to overseas LNG markets.
Social
- Announced signing of option agreements to sell a 10 per cent
equity interest in the Coastal GasLink Pipeline Limited Partnership
to Indigenous communities across the project corridor. The equity
option recognizes the important relationship that TC Energy and
Coastal GasLink have with the Indigenous groups along the approved
pipeline route and the desire to be true partners.
Governance
- Further connected ESG and energy transition to the Company’s
business strategy through its corporate scorecard. For 2022,
scorecard weightings, which have a direct impact on executive and
all employees’ compensation, are: 25 per cent for progressing ESG
priorities, including safety; 50 per cent for delivering financial
results; and 25 per cent for advancing other key strategic
priorities, including growth and energy transition.
Watch liveTo find out more, please watch
today’s ESG Forum, from 6:00 a.m. to 7:45 a.m. MDT (8:00 a.m. to
9:45 a.m. EDT). A live webcast of the event, along with
presentation materials, is available through the Investors section
of TC Energy’s website at Events and Presentations - ESG Forum
2022.
The webcast will also be available on our website for replay
following the event.
Learn moreTo learn more about TC Energy’s ESG
and sustainability practices, goals and metrics, please visit
www.tcenergy.com/ESGDirectory
About TC EnergyWe’re a team of 7,000+ energy
problem solvers working to move, generate and store the energy
North America relies on. Today, we’re taking action to make that
energy more sustainable and more secure. We’re innovating and
modernizing to reduce emissions from our business. And, we’re
delivering new energy solutions – from natural gas and renewables
to carbon capture and hydrogen – to help other businesses and
industries decarbonize too.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis release
contains certain information that is forward-looking and is subject
to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this document are intended to
provide TC Energy security holders and potential investors with
information regarding TC Energy and its subsidiaries, including
statements related to climate-related risks, climate-related
opportunities, GHG intensity reduction targets, GHG emission
reduction targets, the installation, adoption and integration of
new technologies into our business, including hydrogen production
hubs and transportation hubs for RNG, and management's assessment
of TC Energy's and its subsidiaries' future plans and financial
outlook. All forward-looking statements reflect TC Energy's beliefs
and assumptions based on information available at the time the
statements were made and as such are not guarantees of future
performance. As actual results could vary significantly from the
forward-looking information, you should not put undue reliance on
forward-looking information and should not use future-oriented
information or financial outlooks for anything other than their
intended purpose. In addition, there are risks that the effect of
actions taken by us in implementing targets, commitments and
ambitions for sustainability may have a negative impact on our
existing business, growth plans and future results from operations.
We do not update our forward-looking information due to new
information or future events, unless we are required to by law. For
additional information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the
anticipated results, refer to the most recent Quarterly Report to
Shareholders and Annual Report filed under TC Energy’s profile on
SEDAR at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov.
-30-
Media Inquiries:Jaimie Harding / Hejdi
Carlsenmedia@tcenergy.com 403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:Gavin Wylie /
Hunter Mauinvestor_relations@tcenergy.com403-920-7911 or
800-361-6522
PDF
available: http://ml.globenewswire.com/Resource/Download/25e1d97c-a19a-46b0-98c9-0483d274e4d3
A video accompanying this release is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ff8996cf-af66-48e4-a0d7-e319cb701183
TC Energy (TSX:TRP)
Historical Stock Chart
From Apr 2024 to May 2024
TC Energy (TSX:TRP)
Historical Stock Chart
From May 2023 to May 2024