Enbridge Publishes 23rd Annual Sustainability Report

Rhea-AI Summary

Enbridge Inc. published its 2023 Sustainability Report, highlighting progress in environmental, social, and governance initiatives. The Company aims to achieve net-zero GHG emissions by 2050, improve safety performance, and enhance workforce diversity. The report outlines reductions in GHG emissions, methane emissions, and work-related injuries. Additionally, Enbridge focuses on Indigenous reconciliation, workforce representation, and diversity on the Board of Directors.

Positive

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

• The Company reduced methane emissions in natural gas operations by 40% from the 2018 baseline.

• Enbridge surpassed its safety improvement goal, achieving a 16% reduction in work-related injuries and safety incidents among employees and contractors.

• The Company advanced Indigenous reconciliation by meeting 10 of the 22 goals set out in the Indigenous Reconciliation Action Plan.

• Enbridge increased workforce representation of underrepresented groups, women, Indigenous peoples, U.S. veterans, and persons with disabilities.

• The Company exceeded diversity goals for the Board of Directors, with 50% representation from underrepresented racial and ethnic groups and 50% women.

Negative

• None.

Company outlines progress across environment, social and governance priorities

CALGARY, AB, May 10, 2024 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today 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 original content:https://www.prnewswire.com/news-releases/enbridge-publishes-23rd-annual-sustainability-report-302141542.html

SOURCE Enbridge Inc.

FAQ

What are some highlights from Enbridge's 2023 Sustainability Report?

Enbridge's report includes a 37% reduction in GHG emissions intensity, a 20% reduction in absolute GHG emissions, a 40% reduction in methane emissions, and a 16% reduction in work-related injuries.

What are Enbridge's sustainability goals?

Enbridge aims to achieve net-zero GHG emissions by 2050, improve safety performance, and enhance diversity in its workforce and Board of Directors.

How does Enbridge address Indigenous reconciliation?

Enbridge has met 10 of the 22 goals set out in its Indigenous Reconciliation Action Plan, reached $2 billion in Indigenous procurement and labor spending, and committed to an additional $1 billion by 2030.