Climate Change Data

Emera Inc.

Climate Impact & Sustainability Data (2019, 2022, 2023)

Reporting Period: 2019

Environmental Metrics

Total Carbon Emissions:16,225,197 tCO2e/year
Scope 1 Emissions:16,224,673 tCO2e/year
Scope 2 Emissions:524 tCO2e/year
Scope 3 Emissions:9,547,482 tCO2e/year
Renewable Energy Share:18% (Nova Scotia Power)
Water Consumption:16,296 megalitres/year
Waste Generated:405,327 tons/year (coal ash)
Carbon Intensity:0.48 metric tonnes CO2e/MWh

ESG Focus Areas

  • Low-carbon transition
  • Grid resiliency
  • Energy affordability
  • Team health and safety
  • People and culture

Environmental Achievements

  • 35% reduction in GHG emissions since 2005
  • 1,107 MW installed renewable capacity
  • 18% of Nova Scotia Power’s energy generated from wind in 2019

Social Achievements

  • 18% reduction in Injury Rate (1.08 in 2019)
  • $13.4M invested in communities in 2019
  • One of Canada’s TOP 100 EMPLOYERS for 2020

Governance Achievements

  • 36% of board directors are women
  • 82% of board directors are independent
  • Executive compensation heavily dependent on annual results

Climate Goals & Targets

Short-term Goals:
  • Nova Scotia Power to generate approximately 60% of its electricity from renewable sources by 2022
  • Tampa Electric to achieve a 45% reduction in GHG emissions compared to 2005 levels by 2023

Environmental Challenges

  • Extreme weather events impacting operations and infrastructure
  • Maintaining affordability while transitioning to cleaner energy
Mitigation Strategies
  • Investments in grid intelligence and resilience
  • Investments in renewable energy and energy efficiency programs
  • Cost management strategies

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
Opportunities
  • Investments in renewable energy

Reporting Standards

Frameworks Used: GRI Standards, Edison Electric Institute (EEI)/American Gas Association (AGA) ESG/Sustainability Framework, SASB Standards, TCFD Recommendations

Third-party Assurance: No third-party assurance

Awards & Recognition

  • One of Canada’s Best Employers (Forbes)
  • One of Canada’s Top 100 Employers
  • One of Atlantic Canada’s Top Employers
  • One of Nova Scotia’s Top Employers

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:14,676 ktCO2e/year (Scope 1 & 2) + 8,811 ktCO2e/year (Scope 3)
Scope 1 Emissions:14,676 ktCO2e/year
Scope 3 Emissions:8,811 ktCO2e/year
Renewable Energy Share:16% of generation (2022)
Water Consumption:107,513 megalitres/year
Waste Generated:229 tonnes of solid hazardous waste and 1,218,117 litres of liquid hazardous waste
Carbon Intensity:0.45 tCO2/MWh (2022)

ESG Focus Areas

  • Climate Change
  • Emissions
  • Climate Adaptation
  • Coal Unit Closures
  • Low-Carbon Transition
  • Waste Management
  • Water Management
  • Biodiversity
  • Safety
  • Talent Management
  • Diversity, Equity and Inclusion
  • System Reliability and Grid Resiliency
  • Customer Affordability
  • Community Investment
  • Indigenous Relations
  • Business Ethics and Transparency
  • Corporate Governance
  • ESG Governance
  • Cybersecurity
  • Political and Regulatory Requirements

Environmental Achievements

  • 41% reduction in CO2 emissions since 2005
  • 1,654 MW installed renewable capacity
  • 2,500 GWh of purchased renewable energy in 2022
  • Big Bend modernization project completed, reducing coal use and CO2 emissions
  • Coal Unit 3 at Big Bend retired in early 2023

Social Achievements

  • 17% improvement in Lost Time Injury Frequency Rate compared to five-year average
  • $18M invested in communities in 2022
  • Launched remote work guidelines
  • Launched a new performance review tool in Canada
  • Developed career planning modules

Governance Achievements

  • Established a new Enterprise Sustainability Team
  • Appointment of an Emera Chief Risk and Sustainability Officer
  • Risk and Sustainability Committee (RSC) had a successful inaugural year
  • 92% of Emera Board Directors are independent
  • 94% shareholder support in 2022 “Say on Pay” vote

Climate Goals & Targets

Long-term Goals:
  • Net-zero CO2 emissions by 2050
Medium-term Goals:
  • 80% reduction in CO2 emissions and last coal unit retired no later than 2040
Short-term Goals:
  • 55% reduction in CO2 emissions by 2025

Environmental Challenges

  • Supply chain issues and rising inflation
  • Ambitious government climate policies with accelerated timelines (net-zero by 2035)
  • Substantial costs of the energy transition
  • Delays in the completion of the Muskrat Falls and Labrador Island Link projects
  • Increasing frequency and severity of weather events
Mitigation Strategies
  • Investing in cleaner energy and climate adaptation
  • Developing a Climate Commitment Tracking Tool
  • Engaging with governments and stakeholders to determine the best path to achieving ambitious goals
  • Investing in grid modernization, resiliency, and reliability projects
  • Exploring new and emerging technologies (microgrids, battery storage, etc.)
  • Implementing a climate adaptation framework
  • Storm hardening of transmission and distribution assets
  • Refurbishment of hydro dams
  • Improved vegetation and erosion management

Supply Chain Management

Responsible Procurement
  • Third-Party Risk Management Program

Climate-Related Risks & Opportunities

Physical Risks
  • Increased frequency and severity of weather events
  • Changes in precipitation patterns
  • Changes in temperature
  • Rising sea levels
Transition Risks
  • Regulatory requirements limiting emissions
  • Increasing price on carbon
  • Changes in supply chain
  • Customer desire for lower-emitting energy sources
Opportunities
  • Development and expansion of low-emission energy sources and services
  • Development of new distributed energy technologies
  • Access to new markets

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: ISO 14001, ISO 45001

Sustainable Products & Innovation

  • BlockEnergy microgrid technology
  • Renewable natural gas (RNG)
  • Battery storage
  • Solar generation

Awards & Recognition

  • A Top 100 Employer in Canada (5th consecutive year)
  • A Top Employer for Young People (3rd consecutive year)
  • A Top Diversity Employer (2023)
  • Peoples Gas ranked highest in its category for residential customer satisfaction by J.D. Power (10th consecutive year)
  • Peoples Gas recognized as an Environmental Champion under Escalent’s Environmental Dedication Index
  • Tampa Electric recognized as a Business Customer Champion (2nd consecutive year)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:13,557,728 tCO2e/year (Scope 1 and 2) + 8,301,206 tCO2e/year (Scope 3)
Scope 1 Emissions:13,335,892 tCO2/year
Scope 3 Emissions:8,301,206 tCO2e/year
Renewable Energy Share:42.5% (Nova Scotia Power)
Water Consumption:2,655,862 thousand cubic meters withdrawn; 64,718 thousand cubic meters consumed
Waste Generated:302,390 tonnes of coal ash (23% recycled)
Carbon Intensity:0.41 metric tonnes CO2e/MWh

ESG Focus Areas

  • Climate Change
  • Diversity, Equity and Inclusion
  • Safety
  • Customer Experience
  • Supply Chain Oversight
  • Indigenous Engagement

Environmental Achievements

  • Reduced Scope 1 and 2 GHG emissions by 46% since 2005 (47% reduction in Scope 1 CO2)
  • 42.5% of total sales were RES-compliant in Nova Scotia, exceeding the 40% renewable energy target

Social Achievements

  • Named one of Canada’s Top 100 Employers, Canada’s Top 100 Employers for Young People, Atlantic Canada’s Top Employers, Nova Scotia’s Top Employers, and Canada’s Best Diversity Employers.
  • Implemented various employee health and wellness programs

Governance Achievements

  • Established a robust safety incident management and investigation process based on root cause analysis.
  • Implemented a Third-Party Risk Management Program to evaluate, mitigate and manage risk with respect to third-party vendors.

Climate Goals & Targets

Environmental Challenges

  • Aging electrical equipment leading to mineral oil releases
  • Meeting Renewable Portfolio Standards (RPS) targets due to unforeseen outages
Mitigation Strategies
  • Remediation of oil releases in accordance with local regulatory requirements
  • Proactive measures to prevent future outages and ensure RPS compliance

Supply Chain Management

Responsible Procurement
  • Third-Party Risk Management Program

Climate-Related Risks & Opportunities

Physical Risks
  • Severe weather events
Transition Risks
  • Regulatory changes
Opportunities
  • Investments in renewables

Reporting Standards

Frameworks Used: GRI, SASB

Certifications: ISO 14001

Awards & Recognition

  • Canada’s Top 100 Employers
  • Canada’s Top 100 Employers for Young People
  • Atlantic Canada’s Top Employers
  • Nova Scotia’s Top Employers
  • Canada’s Best Diversity Employers