Enbridge Publishes 23rd Annual Sustainability Report

Rhea-AI Summary

Enbridge has released its 2023 Sustainability Report, detailing advancements in environmental, social, and governance (ESG) initiatives. Key achievements include a 37% reduction in GHG emissions intensity and a 20% reduction in absolute GHG emissions from 2018 levels. Methane emissions in natural gas operations were cut by 40%. The company also reported enhanced transparency in Scope 3 emissions. On the social front, Enbridge reduced work-related injuries by 16%, committed $2 billion to Indigenous procurement, and increased workforce diversity. Governance highlights include 50% diversity on the Board of Directors. These efforts align with Enbridge's goal to reach net-zero emissions by 2050.

Positive

• 37% reduction in GHG emissions intensity from 2018 baseline.
• 20% reduction in absolute GHG emissions from 2018 baseline.
• 40% reduction in methane emissions in natural gas operations from 2018 baseline.
• Enhanced transparency in Scope 3 emissions reporting.
• 16% reduction in work-related injuries, surpassing the goal of 10%.
• Achieved $2 billion in Indigenous procurement and labor spending.
• Increased workforce diversity across multiple categories.
• 50% diversity on the Board of Directors, with representation from underrepresented racial and ethnic groups and women.

Negative

• Only met 10 of the 22 goals in the Indigenous Reconciliation Action Plan.
• Significant targets still remain, with ongoing work required to meet 2050 net-zero goals.

Company outlines progress across environment, social and governance priorities

CALGARY, AB / ACCESSWIRE / May 14, 2024 / Enbridge Inc. (Enbridge or the Company) (TSX:ENB) (NYSE:ENB) published its 2023 Sustainability Report. This report provides an overview of the Company's strategy and approach on sustainability, and details progress towards achieving its environment, social and governance goals.

These goals include reducing operational greenhouse gas (GHG) emissions to achieve net-zero by 2050, achieving industry-leading safety performance and improving diversity of the Company's Board of Directors and throughout its workforce.

"Across Enbridge, our employees are advancing a sustainable business strategy," said Pete Sheffield, Enbridge Vice President and Chief Sustainability Officer. "We've set ambitious goals that align our teams in common-purpose and shared accountability to deliver the best possible solutions for a broad set of stakeholders.

"This integrated approach continues to yield positive results as we maintain a focus on continuous improvement and long-term value," Sheffield adds. "In our 23^rd Sustainability Report, we update stakeholders on our progress against the sustainability goals we set in 2020 and the work remaining. We also outline the actions we're taking to deliver reliable, affordable energy to as many people as possible sustainably. And we acknowledge the steps we're taking to overcome challenges of yesterday and those before us today, with an eye towards securing opportunities tomorrow."

Highlights from the 2023 Sustainability Report Include:

Environment

Emissions

• Achieved a 37% reduction in GHG emissions intensity and a 20% reduction in absolute GHG emissions from our 2018 baseline.
• Reduced methane emissions in the Company's natural gas operations by 40% from the 2018 baseline.
• Continued the Company's robust GHG emissions disclosures, expanding the categories of Scope 3 emissions that are reported on and enhancing the transparency of Scope 3 emissions reporting.
• Provided an updated analysis of Enbridge's business under different climate-related scenarios, in alignment with the Task Force on Climate-related Financial Disclosures (TCFD).

Social

Safety

• Achieved a 16% reduction in work-related injuries and safety incidents among employees and contractors, surpassing the Company's goal of achieving a 10% safety improvement over the previous three-year average.

Indigenous

• Advanced Indigenous reconciliation by meeting 10 of the 22 goals set out in the Company's Indigenous Reconciliation Action Plan.
• Reached $2 billion in Indigenous procurement and labour spending and committed to an additional $1 billion in cumulative Indigenous spending by 2030.

Workforce Representation

• Increased workforce representation of underrepresented ethnic and racial groups, U.S. veterans, women, Indigenous peoples and persons with disabilities.

Governance

Diversity & Inclusion

• Exceeded Company's Board of Directors diversity goals, with 50% representation from underrepresented racial and ethnic groups and 50% women.

Enbridge's 2023 Sustainability Report was developed in accordance with the Global Reporting Initiative (GRI) Universal Standards and GRI 11 Oil and Gas Sector Standard. Sustainability data disclosed in the Report uses the Sustainability Accounting Standards Board (SASB) standards for Oil and Gas Midstream, and Gas Utilities and Distributors and the 2023 ESG Datasheet includes the Company's response to the recommendations of the TCFD.

Click to read the full Enbridge 2023 Sustainability Report and the 2023 ESG Datasheet, including the TCFD.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil, and renewable power networks and our growing European offshore wind portfolio. We are investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We are advancing new technologies, including hydrogen, renewable natural gas, and carbon capture and storage, and are committed to achieving net zero greenhouse gas emissions by 2050. Headquartered in Calgary, Alberta, Enbridge's common shares trade under the symbol ENB on the Toronto (TSX) and New York (NYSE) stock exchanges. To learn more, visit us at enbridge.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Media
Toll Free: (888) 992-0997
Email: media@enbridge.com

Investment Community

Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com

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 are Enbridge's environmental achievements in the 2023 Sustainability Report?

Enbridge achieved a 37% reduction in GHG emissions intensity and a 20% reduction in absolute GHG emissions from 2018 levels.

How did Enbridge perform in reducing methane emissions?

Enbridge reduced methane emissions in its natural gas operations by 40% from the 2018 baseline.

What safety improvements are highlighted in Enbridge's 2023 Sustainability Report?

Enbridge achieved a 16% reduction in work-related injuries and safety incidents, surpassing its goal of a 10% improvement.

How did Enbridge advance Indigenous reconciliation efforts?

Enbridge met 10 of its 22 goals in the Indigenous Reconciliation Action Plan and committed $2 billion to Indigenous procurement.

What are the diversity achievements mentioned in Enbridge's 2023 Sustainability Report?

Enbridge increased workforce representation of underrepresented groups and achieved 50% diversity on its Board of Directors.

What governance standards did Enbridge use for its 2023 Sustainability Report?

The report was developed in accordance with the Global Reporting Initiative (GRI) Universal Standards and GRI 11 Oil and Gas Sector Standard.