Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Healthy Airport
• Healthy Workforce
• Healthy Business
• Healthy Economy
• Healthy Communities
• Corporate Governance

Environmental Achievements

• 60% reduction in greenhouse gas emissions

Social Achievements

• Launched "Healthy Airport" commitment with partners, government agencies and stakeholders to set strong, consistent, reliable standards for passenger and airport worker health protection.
• Achieved global Health Accreditation by Airports Council International.
• Awarded “Best hygiene measures by region” in North America by Airports Council International.

Governance Achievements

• All Directors on the GTAA’s Board are independent.
• Established four standing committees of the Board: the Audit Committee; the Governance and Stakeholder Relations Committee; the Human Resources and Compensation Committee; and the Planning and Commercial Development Committee.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and resulting economic contraction had a material negative impact on demand for air travel.
• Material declines in passenger and flight activity since March 2020.
• Multiple flight and route cancellations by air carriers.
• Significant negative impacts to commercial partners, concessionaires and tenants.

Mitigation Strategies

• Drew $690.0 million of cash from short-term borrowings.
• Issued $500.0 million Series 2020-1 Medium-Term Notes.
• Implemented significant reductions to operating and capital expenditures, including a hiring freeze.
• Temporarily closed operating access to over 40 per cent of its terminal facilities.
• Reduced approximately 500 positions.
• Provided financial accommodation and other assistance through a number of programs including payment abatements, deferrals and contract relief.
• Implemented safety measures to reduce the spread of COVID-19 (increased cleaning, hand sanitizer, metering of arriving flights, reconfiguration of passenger queuing, etc.).
• Amended long-term aeronautical fees agreements with Air Canada and WestJet to reflect reduced flight activity.
• Increased aeronautical rates and Airport Improvement Fees (AIF).

Supply Chain Management

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications:

UN Sustainable Development Goals

• Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Airport Service Quality benchmarking program
• Environmental Achievement Award from Airports Council International
• 2020 Environmental Achievement Award in the Environmental Management Category from Airport Council International-North America (ACI-NA)
• Best hygiene measures by region in North America
• Best Large Airport in North America serving more than 40 million passengers

Environmental Metrics

ESG Focus Areas

• Climate change
• Diversity, Equity and Inclusion
• Environmental Sustainability
• Community Engagement
• Governance

Environmental Achievements

• Maintained ACI Level 3 Carbon Accreditation (one of only 17 airports in North America at this level)
• Received BOMA CREST Award for efficiency in building performance
• Reduced GHG emissions by 70% versus 2006 baseline (outperforming 2020 goal)
• Installed 2,102 LED lights on runways, increasing energy efficiency
• Updated Environmental Policy to achieve net-zero emissions by 2050
• Became signatories to the World Economic Forum’s Clean Skies Initiative

Social Achievements

• Launched CEO-sponsored Thank You campaign for front-line staff
• Streamlined training, saving 70,000+ employee hours annually
• Introduced several well-being initiatives (Wellness Wednesdays, Wellness Marathons)
• Updated DEI strategy, expanding internal team and resources
• Launched Diversity Meter survey to measure employee perception of DEI
• Implemented leadership commitment and accountability program to foster inclusion and equity
• Piloting the first Employee Resource Group for Black employees (The Black Professionals Network)
• Continued support for the Women’s Alliance Employee Resource Group
• Became a signatory to the BlackNorth Initiative

Governance Achievements

• Improved risk-based decision-making by creating a more robust risk-awareness culture
• Board approved amendments to Board’s Diversity Policy to include aspirational goals for representation of women and individuals from diverse groups
• All Directors on the GTAA’s Board are independent

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic significantly impacted passenger numbers and revenues (approximately half of pre-pandemic levels)
• Lack of common international standards regarding testing and vaccinations for air travel
• Supply chain disruptions
• Talent recruitment and retention challenges

Mitigation Strategies

• Implemented significant reductions to operating expenditures and capital spending
• Increased aeronautical rates and Airport Improvement Fees
• Negotiated amendments to Master Trust Indenture to increase liquidity and flexibility
• Secured government assistance (e.g., Airport Critical Infrastructure Program funding)
• Diversified revenue streams (e.g., cargo, real estate development, new business ventures)
• Implemented cost optimization initiatives (e.g., redesign of snow-clearing operations)
• Launched various initiatives to improve employee well-being and retention

Supply Chain Management

Responsible Procurement

• Introduced a sustainable procurement program in 2021

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Flooding

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards for Sustainability Reporting Core option, Airport Operators Sector Disclosure, SASB Sustainability Accounting Standards, TCFD framework, UN SDGs (Goals 3, 5, 6, 8, 9, 10, 13, 17)

Certifications: ISO 14001

UN Sustainable Development Goals

• 3
• 5
• 6
• 8
• 9
• 10
• 13
• 17

The GTAA's operations and activities impact these goals through various initiatives and programs detailed in the report.

Awards & Recognition

• Cleanest airport in North America (Skytrax)
• Best Large Airport in North America (ACI)
• Best Health and Hygiene Measures in North America (ACI)
• BOMA CREST Award
• Forbes Canada Best Employers list

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Avoided an additional 2,765 tonnes of carbon by adding 1,800 LED lights and optimizing processes by which we utilize the GTAA’s cogeneration facility.
• Received Level 4 Airport Carbon Accreditation from Airports Council International – one of only six airports globally to receive this accreditation.
• Recycled over 99% of construction waste by weight
• Completed LED lighting upgrades

Social Achievements

• Included on Forbes’ 2022 list of Best Employers in Canada.
• Launched three additional employee resource groups.
• Donated $387,000 to six deserving organizations for programs that break down barriers to employment in underserved communities.
• Pledged $150,000 to Black and Indigenous organizations that support advancing diverse talent from within their communities.

Governance Achievements

• Actively manage business and external risks through our Enterprise Risk Management program.

Climate Goals & Targets

Environmental Challenges

• Increased airport operations led to an increase in power usage and GHG emissions.
• Three exceedances of the federal glycol guideline in 2022 due to an extreme winter weather event.

Mitigation Strategies

• GHG emissions increase was accounted for within the GTAA’s GHG Net Zero strategy.
• Robust glycol sampling schedule to monitor stormwater exiting airport property.
• Extensive stormwater management system and glycol containment storage in place.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Environmental Policy and Green Procurement Policy
• Supplier Code of Conduct
• 10% of overall score in RFP process dependent on social and environmental performance

Climate-Related Risks & Opportunities

Physical Risks

• Precipitation associated with once-in-100-year storms
• Flooding

Transition Risks

• Changes to environmental regulation
• Need for cleaner fuels

Opportunities

• Development of hydrogen hub
• Investment in LED lighting and clean energy fleets

Reporting Standards

Frameworks Used: GRI Universal Standards (2021), GRI Airport Operators Sector Disclosure, SASB Standards, TCFD framework, UN Sustainable Development Goals

Certifications: ISO 14001, ACI Airport Carbon Accreditation (Level 4), ACI Public Health and Safety Readiness Program Accreditation

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• SDG 3
• SDG 6
• SDG 8
• SDG 11
• SDG 13
• SDG 17

The GTAA's operations and activities align with these goals through practices that contribute to ensuring healthy lives, protecting water supplies, achieving sustainable development, fostering community growth, combating climate change, and collaborating with stakeholders.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Forbes’ 2022 list of Best Employers in Canada
• 5-Star Safety Culture Award by Canadian Occupational Safety magazine
• ACI Public Health and Safety Readiness Program Accreditation

Environmental Metrics

ESG Focus Areas

• Governance
• Environmental
• Social

Environmental Achievements

• Achieved Level 4 Airport Carbon Accreditation certification.
• Announced Ontario’s first public hydrogen refuelling station.

Social Achievements

• Supported diversity, equity, and inclusion commitments through a complete review of employment systems, policies, and practices.
• Provided inclusive leadership training for employees.
• Successfully integrated the Supplier Code of Conduct into all requests for proposals and supply contracts.
• Volunteered almost 3,500 hours in communities and invested almost half a million in employment support and programming accessed by 5,000 people through the Propeller Project.

Governance Achievements

• Updated Code of Business Conduct and Ethics.
• Published inaugural Accessibility Plan.
• Created an independent Cybersecurity Governance function.

Climate Goals & Targets

Environmental Challenges

• Limited influence over the sustainability practices of partners and other ecosystem stakeholders.
• Climate change transition risks (market, reputational, regulatory, legal, technology).
• Climate change physical risks (acute and chronic).

Mitigation Strategies

• Close collaboration with partner organizations.
• Participation in Airport Carbon Accreditation (ACA) program.
• Climate change vulnerability assessments.
• Extensive stormwater management system and glycol containment storage.
• Purchase of insurance.
• Pearson LIFT capital plan incorporating sustainable design principles.

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct integrated into all RFPs and contracts.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding
• Higher temperatures affecting take-offs

Transition Risks

• Reduced demand for air travel
• Regulatory changes
• Increased costs

Opportunities

• Development of energy-efficient products
• Hydrogen fuel use

Reporting Standards

Frameworks Used: TCFD, SASB

Certifications: ISO 14001, Airport Carbon Accreditation (Level 4)

Awards & Recognition

• Airports Council International Airport Service Quality Award – Best Large Airport in North America (2023)