Enbridge Celebrates 75 Years With Vision for Sustainable Energy Future and Strategic Expansion Into U.S. Natural Gas

Rhea-AI Summary

Enbridge celebrates its 75th anniversary with a renewed vision for a sustainable energy future. The company aims to provide energy in an eco-friendly manner through a diversified portfolio that includes natural gas, oil, and renewables. The recent acquisition of U.S. natural gas utilities, announced in September 2023, positions Enbridge as the largest natural gas distributor in North America.

Enbridge has made significant strides in ESG goals, including reducing emissions intensity and methane emissions by 40% from 2018 levels. The company exceeded its Board diversity targets and showed progress in employee representation from underrepresented groups, although challenges remain in diversifying further.

Safety and Indigenous inclusion are also focal points, with record performance in occupational safety and progress in Indigenous Reconciliation commitments. Enbridge remains committed to navigating economic and environmental challenges while aiming for long-term growth and sustainability.

Positive

• Enbridge has become the largest natural gas distribution company in North America.
• The acquisition of U.S. natural gas utilities in September 2023 adds 3 million customers.
• Reduced emissions intensity and methane emissions by 40% from 2018 levels.
• Exceeded Board diversity targets.
• Progress in Indigenous Reconciliation Action Plan, meeting 10 of 22 commitments.
• Record performance in occupational and process safety.

Negative

• Challenges remain in diversifying workforce representation, especially for women, U.S. veterans, and persons with disabilities.
• Very little turnover has opportunities for workforce diversification.

A message from Enbridge's CEO & Board Chair

Originally published in Enbridge's 2023 Sustainability Report

NORTHAMPTON, MA / ACCESSWIRE / June 12, 2024 / It's been 75 years since our incorporation as Interprovincial Pipeline and the beginnings of Enbridge's critical role in delivering energy to people across North America. As we celebrate this milestone, we look to the future with a new vision: to provide energy in a more planet-friendly way, everywhere people need it. This vision shapes our strategic decisions and actions as we move forward with a diversified portfolio across liquids, natural gas and renewables, and a global mindset to provide energy to people and regions throughout the world.

Meeting energy demand amidst an energy transition
The world is facing an urgent need to reduce greenhouse gas emissions and transition to a lower-carbon economy. At the same time, global energy demand is rising, and the continued war in Ukraine, conflict in the Middle East and lingering inflation have highlighted the importance of energy reliability, affordability and access. Against this backdrop, Enbridge believes in taking a practical and balanced approach, with energy systems that include responsibly produced natural gas and oil, as well as renewable power and lower-carbon options.

The U.S. natural gas utilities acquisitions we announced in September 2023 are a transformative opportunity that not only establishes Enbridge as the largest (by volume) natural gas distribution company in North America but also supports our growth as a more diversified company. These utilities share our commitment to embedding sustainability in operations and advancing lower-carbon initiatives. The acquisitions also enable us to provide safe, reliable and affordable energy to an additional three million customers across the United States.

The first-choice energy delivery company
Every day, we strive to be the first-choice energy delivery company in North America and beyond-for customers, communities, investors, regulators, policymakers and employees.

We're proud of our strong record of governance and longstanding sustainability leadership and we remain focused on achieving the ambitious environmental, social and governance (ESG) goals we set in 2020. In this, our 23rd Sustainability Report, we share that we surpassed both of our Board diversity goals and have made solid progress on our goals for employee representation of underrepresented ethnic and racial groups in our workforce. That said, we still have work to do-particularly with respect to the representation of women, U.S. veterans and persons with disabilities. We have experienced very little turnover in recent years, which has limited our opportunities to achieve gains in our diverse employee base. We continue to actively work to build a diverse talent pool and a more inclusive, dynamic and innovative team.

During 2023, we achieved our goal to reduce the emissions intensity of our operations from 2018 levels, and we've also reduced our absolute methane emissions by 40% during the same period. These results are encouraging and teams across Enbridge are focused on maintaining and improving upon our progress to date.

Safety continues to be a dedicated focus for all employees. In 2023, we maintained an industry-leading benchmark for integrity management, and we achieved record performance for occupational and process safety. Still, there is more work ahead of us.

Advancing Indigenous inclusion and opportunity
Indigenous reconciliation across our host communities, together with inclusion and awareness throughout our Company, continues to be foundational. We have made good progress on the commitments in our Indigenous Reconciliation Action Plan, meeting 10 of the 22 commitments outlined in 2022. This includes establishing our Indigenous Advisory Group, setting a $1 billion Indigenous spend target, and advancing Indigenous representation within our workforce.

Tomorrow is on
While the economic and environmental challenges before us are great, we are prepared. Enbridge is in a strong position to navigate the headwinds and realize the opportunities presented to us. Put simply, we believe the world will need all forms of energy to meet demand while reducing emissions. Our strategy to grow our businesses, increase access to global markets and invest in lower-carbon platforms takes the big picture into account-now and longer term.

We are excited about our future and focused on our "Next 75"- aligning on a north star of a sustainable energy future that is guided by our values and centered around shifting the fundamentals of how we think, how we work, how we support our customers and each other, and how we deliver energy, everywhere people need it.

We are honored to lead Enbridge into the next phase of growth and to lead a high-performance team that shares our passion for the business and our mission to be the first-choice energy delivery company.

Sincerely,

Gregory L. Ebel
President and Chief Executive Officer

Pamela L. Carter
Chair, Board of Directors

Read more

View additional multimedia and more ESG storytelling from Enbridge on 3blmedia.com.

Contact Info:
Spokesperson: Enbridge
Website: https://www.3blmedia.com/profiles/enbridge
Email: info@3blmedia.com

SOURCE: Enbridge

View the original press release on accesswire.com

FAQ

What recent acquisitions has Enbridge made?

Enbridge recently acquired U.S. natural gas utilities, announced in September 2023.

How has Enbridge performed in terms of emissions reduction?

Enbridge reduced emissions intensity and absolute methane emissions by 40% from 2018 levels.

What is Enbridge's position in the natural gas market?

Enbridge is now the largest natural gas distribution company in North America.

What are Enbridge's achievements in workplace diversity?

Enbridge surpassed its Board diversity goals and made progress in underrepresented employee representation.

How is Enbridge focusing on Indigenous inclusion?

Enbridge has made progress on its Indigenous Reconciliation Action Plan, meeting 10 of 22 commitments.