Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• People and Safety
• Products and Services
• Community

Environmental Achievements

• Met 12.5% GHG emission reduction target in 2022 (net emissions totaling 19,535 tCO2e).
• Achieved 71% conventional waste diversion rate.
• Net annual water consumption from Lake Huron was 2.04 million cubic meters, below the target of 2.3 million cubic meters.
• Successfully managed high-density Phragmites areas in Baie du Doré, significantly reducing its presence.
• Increased waste oil recycling volumes from 24% in 2021 to 87% in 2022.

Social Achievements

• 32% of hires into non-traditional roles were filled by women in 2022, meeting the target.
• Launched two Employee Resource Groups: the Women’s Forum and the Gender & Sexuality Alliance.
• Increased Indigenous supplier network participation to 62% of services and materials.

Governance Achievements

• Established an Executive Steering Committee to oversee DE&I programming.
• Maintained a Low-Risk ESG Rating (12.9) from Morningstar Sustainalytics.
• Obtained third-party limited assurance for key performance indicators related to greenhouse gas emissions and workforce diversity.

Climate Goals & Targets

Environmental Challenges

• Slight rise in Industrial Safety Accident Rate (ISAR) for utility employees from 0.03 to 0.07.
• Increased cost of living and housing in the region.
• Shortage of physicians and healthcare workers in the region.
• Tree planting target not met due to increased tree prices and decreased landowner uptake.

Mitigation Strategies

• Shifting from ISAR to Severe Injury Rate (SIR) as the corporate metric for safety performance.
• Committed additional funding to address housing affordability and partnered with the Nuclear Innovation Institute’s Clean Energy Frontier program.
• Continued investment in health care infrastructure and spousal employment support for physician recruitment.
• Continued funding for tree planting programs despite challenges.

Supply Chain Management

Responsible Procurement

• Indigenous Procurement Policy
• ESG factors considered in RFP evaluation
• Supplier Code of Conduct
• ISNetworld registration for most suppliers
• Local economic content requirements for selected sub-contractors

Climate-Related Risks & Opportunities

Physical Risks

• Changing local, regional, and global environment conditions (air temperatures, water temperatures, water levels, extreme weather events, ice cover, debris loading).

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Net Zero strategy, green financing, clean energy credits

Reporting Standards

Frameworks Used: UN SDGs, SASB, TCFD, GRI, GHG Protocol

Certifications: ISO 14001

Third-party Assurance: Morningstar Sustainalytics (limited assurance for GHG emissions and workforce diversity)

UN Sustainable Development Goals

• 7
• 12
• 13
• 6
• 14
• 15
• 5
• 8
• 10
• 1
• 3

Alignment with UN SDGs is described throughout the report.

Sustainable Products & Innovation

• Medical isotopes (Cobalt-60, Lutetium-177), exploring Yttrium-90 production.

Awards & Recognition

• Forbes Canada’s Best Employers for Diversity
• Canada’s Top 100 Employers for Young People
• Best Diversity Employers
• Sustainalytics’ list of ESG Industry Top-Rated and ESG Regional Top-Rated companies

Environmental Metrics

ESG Focus Areas

• Environment
• People and Safety
• Products and Services
• Community

Environmental Achievements

• Met 25% GHG emission reduction target (net emissions totaling 16,744 tCO2e), exceeding the target by retiring 4,150 tCO2e of CECs.
• Successfully completed an ISO 14001 re-registration audit with no non-conformances.
• Net annual water consumption from Lake Huron was 1.9 million cubic meters, below the targeted threshold of 2.3 million cubic meters.
• Phragmites eradicated or population density is low in Baie du Doré.
• Planted 7,370 trees, meeting the 2023 target.

Social Achievements

• Improved Severe Injury Rate (SIR) for utility employees from 0.12 to 0.00 and for contract employees from 0.08 to 0.00.
• 32% of people hired into permanent roles were women, 22% were racialized peoples, 4% were Indigenous Peoples, and 5% were people with disabilities.
• Provided $4,140,400 in total value of sponsorships and donations.

Governance Achievements

• Achieved a ‘Low Risk’ ESG Rating from Morningstar Sustainalytics, placing third globally in its sub-industry category.
• Issued $1.7 billion in Green Bonds.
• Extended Sustainability Linked Loan (SLL) to 2027 (greenhouse gas emissions metric) and 2029 (diversity metrics).

Climate Goals & Targets

Environmental Challenges

• Conventional waste diversion rate below target (69.1% vs. 71%).
• Climate-related risks such as changing water temperatures and water levels impacting power production resilience and reliability.
• Maintaining a robust and multi-faceted Emergency Response Program.

Mitigation Strategies

• Implementing on-site operational initiatives and partnering with local carbon sequestration and offset projects to support further GHG emission reductions.
• Engaging in understanding climate change impacts and vulnerabilities on Lake Huron and the broader region.
• Undertaking over 50 drills and at least one major exercise annually to evaluate the effectiveness of the Emergency Response Program.

Supply Chain Management

Responsible Procurement

• Responsible sourcing, including local sourcing; consideration of sustainability factors in RFP evaluation; expectation of supplier alignment with core values (human rights, Indigenous relations, DE&I).

Climate-Related Risks & Opportunities

Physical Risks

• Changing water temperatures and levels
• Extreme weather events

Opportunities

• Net Zero strategy
• Sustainable financing
• Clean energy credits
• Hydrogen production

Reporting Standards

Frameworks Used: SASB, TCFD, GRI

Certifications: ISO 14001

Third-party Assurance: Morningstar Sustainalytics (limited assurance for GHG emissions and workforce diversity)

UN Sustainable Development Goals

• 7 (Affordable and Clean Energy)
• 13 (Climate Action)
• 6 (Clean Water and Sanitation)
• 14 (Life Below Water)
• 15 (Life on Land)
• 5 (Gender Equality)
• 8 (Decent Work and Economic Growth)
• 10 (Reduced Inequalities)
• 1 (No Poverty)
• 3 (Good Health and Well-being)

Initiatives contribute to these goals through various environmental protection programs, community investment, diversity and inclusion initiatives, and economic development programs.

Sustainable Products & Innovation

• Clean Energy Credits (CECs)
• Lutetium-177 medical isotope

Awards & Recognition

• PAR Gold certification from the Canadian Council for Aboriginal Business
• Sustainalytics' 2024 list of ESG Industry Top Rated and ESG Regional Top Rated