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AECOM to provide environmental master planning services for Greater Toronto Airports Authority
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
AECOM (NYSE: ACM) has been selected by the Greater Toronto Airports Authority to develop a long-term environmental master plan for Toronto Pearson International Airport. This initiative will target climate change, carbon neutrality, energy use, water management, natural environment, and waste management. AECOM aims to suggest capital projects and operational changes that aid GTAA in reaching its environmental goals. The project includes baseline assessments, strategy reviews, performance monitoring, and cost-benefit analyses. AECOM's previous partnerships with GTAA demonstrate a strong foundation for this collaboration.
Positive
Secured a contract with GTAA to develop an environmental master plan, indicating strong business relations.
Focus on six key environmental areas aligns with global sustainability trends, potentially enhancing AECOM's reputation and client base.
Negative
None.
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced it has been selected by the Greater Toronto Airports Authority (GTAA) to develop a long-term environmental master plan for Toronto Pearson International Airport. The plan will focus on six key areas in support of GTAA’s environmental policy – climate change, carbon neutrality and emissions, strategic energy use, water management, natural environment, and waste management. In this role, AECOM will suggest high level capital projects and operational changes to assist GTAA in meeting its environmental goals.
“GTAA is at the forefront of aviation sustainability, and we are honored to be part of its next chapter as it continues to demonstrate leadership in environmental policies and strategies,” said Frank Sweet, chief executive of AECOM’s global Environment business. “AECOM’s global team of subject matter experts share GTAA’s commitment to environmental stewardship, with extensive experience supporting the sustainability efforts of internationally recognized airports. As we advance our Sustainable Legacies strategy, we are excited to partner with clients like GTAA to deliver a lasting impact for generations to come.”
Under its project scope, AECOM will develop strategic plans for each GTAA environmental focus area that will together form an environmental master plan for Toronto Pearson International Airport. The firm will provide services such as conducting baseline assessments for the focus areas; overseeing peer review and analysis of current strategies; identifying priority areas and related goals; preparing cost/benefit analysis for programs and targets; and recommending systems to monitor performance and communicate key metrics.
“We have partnered with GTAA for decades and look forward to applying this firsthand knowledge of local conditions, design standards, and airline needs to produce a high-quality, high-value product,” said Marc Devlin, chief executive of AECOM’s Canada region. “Our structured project management approach combined with our technical depth, focus on quality, and familiarity of Toronto Pearson’s dynamic operations will allow us to help define environmental and sustainability practices that will help pave the path towards GTAA achieving its ambitious and innovative best-in-class goals.”
AECOM project consultants include the International Aviation Waste Management Association, which is collaborating on the waste management plan, and GeoProcess Research Associates, which is collaborating on the natural environment management plan. These partners bring considerable experience in the aviation field and specific knowledge of GTAA's operational requirements.
GTAA manages and operates Toronto Pearson International Airport, Canada’s largest airport in terms of total passenger traffic and North America’s second largest in terms of international traffic, pre-pandemic. AECOM’s previous work at Toronto Pearson includes the redevelopment of Terminal 1, where it served as prime consultant responsible for groundside infrastructure; the original Terminal 3; and various roads and transit, water modelling, and critical infrastructure projects.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and inadequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital’s real estate development; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure, power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
AECOM has been contracted to develop a long-term environmental master plan for Toronto Pearson International Airport, focusing on key areas such as climate change and waste management.
How does AECOM plan to assist GTAA with its environmental goals?
AECOM will suggest capital projects and operational changes, conduct baseline assessments, oversee strategy reviews, and recommend systems for monitoring performance.
What are the key areas of focus in the environmental master plan?
The plan will focus on climate change, carbon neutrality, strategic energy use, water management, natural environment, and waste management.
What previous work has AECOM done for GTAA?
AECOM previously worked on the redevelopment of Terminal 1 and Terminal 3 at Toronto Pearson, among other infrastructure projects.
What is the significance of the partnership between AECOM and GTAA?
This partnership highlights AECOM's commitment to sustainability in aviation and strengthens its position in the environmental consulting sector.
