CALGARY,
AB, May 6, 2024 /CNW/ - ATCO Ltd. (TSX:
ACO.X) (TSX: ACO.Y) / Canadian Utilities Limited (TSX: CU)
Today, ATCO released its 2023 Sustainability Report highlighting
the company's sustainability and environmental, social, and
governance (ESG) performance. With detailed reference to
strategies, initiatives, targets, and metrics, the report focuses
on the transition to low-carbon energy; climate change and
environmental stewardship; governance and responsible business;
operational reliability and resilience; emergency preparedness and
response; community and Indigenous relations; diversity, equity and
inclusion; and safety.
"Our successful ESG performance in the past year is directly
related to the discipline, innovative thinking and determination of
the people of our company," said Nancy
Southern, Chair & Chief Executive Officer ATCO Ltd. and
Canadian Utilities Limited. "As we set our sights on the future, we
believe that achieving an equitable energy transition is a
necessity. Our commitment to this goal underscores our belief in
the power of collective action. At ATCO we are equipped to face
global challenges including global energy security, housing
scarcity and global resource transportation. In addition, this
report details our commitment to establishing strong relationships
with our partners and the communities where we operate. I am
extremely proud of ATCO's efforts towards Indigenous
reconciliation. Together, we must rise to the challenge, working
hand in hand with policymakers and stakeholders to pave the way for
a sustainable and thriving future for generations to
come."
Highlights of ATCO's 2023 sustainability performance
include:
- More than quadrupled our renewable power generation capacity
between 2022 and 2023. As a proportion of our overall owned
production capacity, renewables increased from 24 per cent to 63
per cent, year-over-year.
- Welcomed the Chiniki and Goodstoney First Nations as 51 per
cent majority partners in the Deerfoot and Barlow solar power
projects, the largest solar installation in an urban centre in
Western Canada.
- Reduced company-wide GHG emissions to earnings intensity by 12
per cent compared to 2022, a 32 per cent decrease compared to our
2020 baseline.
- Reduced customers' GHG emissions by 784,000 tonnes of carbon
dioxide equivalent from our 2020 baseline.
- Protected vital infrastructure during wildfires allowing us to
maintain and quickly restore essential services, including
fire-wrapping more than 7,200 electrical poles to protect them from
advancing fires.
- Generated over $128 million in
net economic benefit to Indigenous groups, including awarding
contracts totalling over $91 million
to Indigenous and Indigenous-affiliated contractors.
- Investment of $10.2 million in
communities through gifts-in-kind, sponsorships, donations and our
matching contribution to the employee-led ATCO EPIC Program, which
raised $3.1 million in pledges.
- Recognized in 2024 as one of Canada's Top Employers for Young People and
Alberta's Top 80 Employers.
Click here to see the full ATCO 2023 Sustainability Report.
To learn more about our commitment to sustainability or to
access ESG Datasheets, please visit Our Commitment section of
ATCO.com or CanadianUtilities.com.
As a global enterprise ATCO Ltd. and its subsidiary and
affiliate companies have approximately 20,000 employees and assets
of $25 billion. ATCO is committed to
future prosperity by working to meet the world's essential energy,
housing, security and transportation challenges. ATCO Structures
designs, builds and delivers products to service the essential need
for housing and shelter around the globe. ATCO Frontec provides
operational support services to government, defence and commercial
clients. ATCO Energy Systems delivers essential energy for an
evolving world through its electricity and natural gas transmission
and distribution, and international operations. ATCO EnPower
creates sustainable energy solutions in the areas of renewables,
energy storage, industrial water and clean fuels. ATCO Australia develops, builds, owns and operates
energy and infrastructure assets. ATCOenergy and Rümi provide
retail electricity and natural gas services, home maintenance
services and professional home advice that bring exceptional
comfort, peace of mind and freedom to homeowners and customers.
ATCO also has investments in ports and transportation logistics,
the processing and marketing of fly ash, retail food services and
commercial real estate. More information can be found at
www.ATCO.com.
Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President, Finance, Treasury, Risk &
Sustainability
Colin.Jackson@atco.com
(403) 808 2636
Media Inquiries:
Kurt
Kadatz
Director, Corporate Communications
Kurt.Kadatz@atco.com
(587) 228 4571
Subscription Inquiries:
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releases, please click here.
Forward-Looking Information
Advisory
Certain information in this news release constitutes
forward-looking information. Forward-looking information is often,
but not always, identified by the use of words such as "goal",
"target", "strategy", "initiative", "future", "believe" and similar
expressions. In particular, forward-looking information in this
news release includes, but is not limited to, references to:
strategic plans, goals and targets, including the company's
progress toward its ESG targets; the necessity of an equitable
energy transition; and the company's ability to meet global
challenges.
It is believed that the expectations reflected in such
forward-looking information are reasonable based on the information
that is available on the date this news release was prepared;
however, such statements are not guarantees of future performance
and no assurance can be given that the expectations will prove to
be correct. Forward-looking information should not be unduly relied
upon. Such information involves a variety of assumptions, known and
unknown risks and uncertainties, and other factors which may cause
actual results, levels of activity, and achievements to differ
materially from those anticipated. The forward-looking information
in this news release reflects current beliefs and assumptions with
respect to, among other things: the ability of the company to
successfully achieve its 2030 ESG targets and net-zero GHG
emissions by 2050; the development, performance and implementation
of processes, technology and technological innovations; the ability
to access and implement technology necessary to achieve GHG and
other ESG targets; continuing collaboration with certain regulatory
and environmental groups and communities; the receipt of regulatory
approvals; the performance of assets and equipment; demand levels
for oil, natural gas, gasoline, diesel and other energy sources;
certain levels of future energy use; future production rates;
future revenue and earnings; planned methods of transportation; the
ability to meet project schedules; and other assumptions inherent
in management's expectations in respect of the forward-looking
information identified herein.
Actual results could differ materially from those anticipated
in the forward-looking information as a result of, among other
things: risks related to the development and performance of assets,
technology and new energy efficient products, services, and
programs, including but not limited to the use of zero-emission and
renewable fuels, carbon capture utilization and storage,
electrification of equipment powered by zero-emission energy
sources, and the utilization and availability of carbon offsets;
applicable laws and government policies; the risk of unfavourable
regulatory decisions; competitive factors; political factors;
prevailing economic conditions; credit risk; interest rate
fluctuations; the availability and cost of labour, materials,
services and infrastructure; risks related to the development and
execution of projects; prices of electricity, natural gas, natural
gas liquids, and renewable energy; potential termination or breach
of contracts by contract counterparties; the occurrence of
unexpected events such as fires, severe weather conditions,
explosions, blowouts, equipment failures, transportation incidents,
and other accidents or similar events; global pandemics;
geopolitical tensions and wars; and other risk factors, many of
which are beyond the control of the company. Due to the
interdependencies and correlation of these factors, the impact of
any one assumption or risk on a forward-looking statement cannot be
determined with certainty. Readers are cautioned that the foregoing
lists are not exhaustive. For additional information about the
principal risks that the company faces, see "Business Risks and
Risk Management" in ATCO Ltd.'s Management's Discussion and
Analysis for the year ended December 31,
2023.
SOURCE ATCO Ltd.