Bruce Power has made major strides in its goal to be an industry leader when it comes to minimizing the environmental and ethical impacts of its business.
In August 2021, the company received its second Environmental Social and Governance (ESG) Risk Rating by the third-party rating agency Sustainalytics. This ESG Risk Rating earns the company a spot in the Top 5 within its sub-industry on a global scale.
“Environmental and social principles have always been engrained in our organization, and we have established key metrics and targets to drive us toward excellence,” said Danielle LaCroix, Bruce Power’s Director of Environment and Sustainability. “Open and transparent public disclosure of our performance and targets in these areas via our 2021 Sustainability Report and further integration of climate change risk into the business were some areas where we drove significant improvement of our rating.”
Bruce Power has played a pivotal role in one of the largest clean energy initiatives in North America, as Ontario ended its use of coal-fired electricity in 2014. Bruce Power’s refurbishment of four nuclear units brought 3,000 megawatts (MW) of reliable, low-cost, and carbon-free electricity back to the grid and provided 70 per cent of the electricity needed to take coal-fired generation out of the provincial supply mix.
An ESG Risk Rating is used to help companies assess their sustainability impact. The ESG Risk Rating conducted by Sustainalytics combines an assessment of a company’s exposure to industry specific ESG issues and how well a company is managing those risks. Sustainalytics analyzed 10 material ESG areas, and each has been assigned an exposure rating and management score that is used to calculate the overall total rating for each area.
In 2021, Bruce Power launched a number of initiatives, including a commitment to Net Zero from site operations by 2027 and unveiling the Carbon Offset Coalition, a Net Zero carbon reduction community partnership program.
“As a company, Bruce Power has a responsibility to both the environment we rely on for our operations, as well as society, to implement sustainable business practices,” LaCroix continued. “We strive to achieve this while continuing to provide clean, reliable energy for the province; supporting out province’s own Net Zero and climate change goals.”
“Bruce Power has a strong commitment to diversity, equity and inclusion and a strategic plan in place to ensure meaningful action,” added Karen Smith, Bruce Power’s Director of Talent Management. “Building and fostering a more diverse, equitable and inclusive workforce is a key driver in our ESG strategy and is essential to our future success.”
Sustainalytics, a Morningstar Company, is a leading independent ESG and corporate governance research provider, and ratings and analytics firm that supports investors around the world with the development and implementation of responsible investment strategies. The public rating for Bruce Power, conducted by Sustainalytics can be found here and Bruce Power’s 2021 Sustainability Report can be found here.
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.