As Bruce Power strives to advance its sustainability goals and further its position in minimizing the environmental impacts and upholding strong business ethics, the company is pleased to have been recognized with a strong Environmental, Social and Governance (ESG) Risk Rating from leading ESG risk ratings provider Morningstar Sustainalytics.
Continuing the trend of year-over-year improvement, Bruce Power has achieved its lowest (most favourable) risk rating of 12.6, maintaining a ‘Low Risk’ ESG Rating from third-party ESG rating agency Morningstar Sustainalytics. This places the company third globally in its sub-industry category of Independent Power Production and Traders, and in the top four percent in the Utilities industry covered by Morningstar Sustainalytics.
“We’re committed to being a good steward for our people, communities and the environment. Participating in third-party assessments of our performance in these areas allow us to better understand how we can improve and strengthen sustainable business practices, while continuing to provide clean, reliable energy for the province in supporting Ontario’s climate change goals, and supplying cancer-fighting medical isotopes to the global health-care community,” said Danielle La Croix, Bruce Power’s Senior Director, Regulatory, Environment and Sustainability.
The ESG Risk Rating report outlined strong performance in a number of areas, including Community Involvement, Emergency Response, Diversity Programs, Waste Management and Environmental Programs and Policies.
The strong risk rating comes on the heels of the company’s favourable ISO 14001 re-registration audit in 2023, during which auditors identified several strengths with no non-conformances. New to the audit this year was what’s called the Intertek Maturity Model, and of the six areas rated, we received the highest rating in the following categories: Management, Internal Audit, Operational Control and Resources.
Bruce Power’s strong ESG Risk Rating also earned it a place on Sustainalytics’ 2024 list as ESG Industry Top Rated and ESG Regional Top Rated, recognizing the company as a top performer in its respective industry and region. This is the second year in a row that Bruce Power has been included on these Top Rated lists by Morningstar Sustainalytics.
The ESG Risk Rating conducted by Morningstar Sustainalytics combines an assessment of a company’s exposure to industry specific ESG issues and how well a company is managing those risks. Morningstar Sustainalytics analyzed 10 material ESG issues (MEIs), and each has been assigned an exposure rating and management score that is used to calculate the overall total rating for each area.
The public rating for Bruce Power, conducted by Morningstar Sustainalytics can be found here.
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 cancer-fighting 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, TikTok and YouTube.