Bruce Power has released its 2023 Sustainability Report to mark World Environment Day. The report highlights the company’s ongoing commitment to having a positive impact in our local community and in supporting provincial and federal carbon-reduction goals.
The 2023 Sustainability Report provides clear, relevant disclosure of the company’s Environment, Social, and Governance (ESG) commitments, and focuses on 28 key performance indicators that are monitored annually.
In August 2022, Bruce Power received its third straight ESG Risk Rating from the third-party agency Morningstar Sustainalytics, which showed year-over-year strong and improving performance while maintaining a Low-Risk ESG Rating (12.9). The latest ESG Risk Rating ranked the company a spot in the Top 3 within its sub-industry on a global scale and in the top three per cent in the Utilities industry covered by Morningstar Sustainalytics. In 2023, Bruce Power was included on Sustainalytics’ list of ESG Industry Top-Rated and ESG Regional Top-Rated companies.
“Our environmental and social principles are a part of our core values at Bruce Power,” said Danielle La Croix, Senior Director, Sustainability and Net Zero. “We are committed to providing clean and reliable energy for the people of Ontario and cancer-fighting medical isotopes for the world market, while also protecting the environment, building the economy and enabling a Net Zero future.”
Bruce Power has made the ambitious commitment to achieve Net Zero emissions from site operations by 2027, making it the first nuclear operator in North America to announce such an aggressive target.While the company reliably produces large volumes of emissions-free electricity, this next step ensures it minimizes and offsets emissions from routine undertakings such as vehicles, machinery, buildings, and equipment.
The company has issued $1.1 billion in Green Bonds to date with the inaugural issuance of $500 million in November 2021 being a global first for nuclear power, and a significant milestone in the recognition of the critical role nuclear technology plays in fighting climate change and enabling a Net Zero future. Released in June 2022, the Green Bond Impact Report provides information on the allocation and impact of the Green Bond proceeds related to the November 2021 issuance. The next impact report will be released in mid-2023.
“We care deeply about our people, the environment and our surrounding communities and contributing to a sustainable future while generating 30 per cent of Ontario’s carbon-free electricity and life-saving medical isotopes,” said Mike Rencheck, Bruce Power’s President and Chief Executive Officer. “In addition to our efforts supporting the fight against climate change and the fight against cancer with our medical isotopes, we continue to build on programs and initiatives that advance the sustainability of our business.”
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.