Bruce Power has once again been recognized as a top performer when it comes to its commitment to powering Ontario forward while minimizing its impact on the environment and ethical impacts of its business.
The company was named as a top-rated company for Environmental, Social and Governance (ESG) Risk Rating by the third-party ESG rating agency Morningstar Sustainalytics, which included more than 15,000 companies across 42 industries.
Bruce Power was included on the 2023 list as ESG Industry Top Rated and ESG Regional Top Rated. These accolades come as Bruce Power continues to see year-over-year improvements after achieving its lowest risk rating of 12.9 in 2022 to rank in the Top 3 within is sub-industry on a global scale and the top three per cent in the utilities industry.
Bruce Power’s 2022 ESG Risk Rating marked strong performance in a number of areas, including Community Involvement, Emergency Response, Diversity Programs, Waste Management, and Environmental Programs and Policies.
“It is rewarding to be included on the list of top-rated companies and be recognized as an industry leader by a third party because we strive to have a positive impact through our environmental, social and governance programs,” said Chris Mudrick, Bruce Power Executive Vice-President and Chief Nuclear Officer. “Bruce Power’s approach to sustainability is integrated across the organization and builds on well-established and existing efforts, which have significant positive impacts on our local community and on a wider scale as we support provincial and federal carbon-reduction goals, while contributing to economic growth, innovation and environmental protection.
“Fostering a diverse, equitable and inclusive workforce is also a key driver in our ESG strategy,” Mudrick added. “We are building strong connections with Indigenous communities and other under-represented groups through meaningful partnerships, employment for skilled workers, and training opportunities.”
After playing an integral role in Ontario’s phase out of coal-fired electricity in 2014 by returning Bruce A Units 1-4 to service over the previous decade, the company has made a number of commitments to contribute to cleaner air for Ontarians, including, a commitment to Net Zero greenhouse gas emissions from site operations by 2027; increasing generation output to produce 7,000 Megawatts of carbon-free electricity in the 2030s and beyond; establishing Bruce Power Net Zero Inc. to explore commercial opportunities for complementary technologies that leverage the carbon-free advantages of nuclear power, such as storage, carbon offsets, renewables, hydrogen and electrified transportation; and issuing Green Bonds, a global first for nuclear power and recognition of the critical role the technology plays in fighting climate change.
Bruce Power will to build on its successes by focusing on the following in 2023:
- Continued improvement in our ESG efforts and sustainable business practices based on feedback from these third-party assessments.
- Continue to build on a quantitative and formalized approach to our sustainability reporting including the refinement of existing ESG Key Performance Indicators (KPIs).
- Reporting on the progress and impacts of implemented short-, medium- and long-term emissions reduction, substitution and offsetting actions outlined in Bruce Power’s Net Zero 2027 Strategy.
- Building upon commitments related to minimizing impacts from operations on biodiversity.
- Exploring opportunities to reduce water consumption in operations.
Bruce Power’s 2022 Sustainability Report provides clear, relevant disclosure of the company’s ESG commitments, with actions that drive tangible benefits in the near term.
About Bruce Power
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 nuclear power to families and businesses across the province and life-saving medical isotopes around the world. 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. Formed in 2001, Bruce Power is a Canadian-owned partnership of TC Energy, OMERS, the Power Workers’ Union and The Society of United Professionals. Learn more at www.brucepower.com and follow us on Facebook, Twitter, LinkedIn, Instagram and YouTube.