We’re acutely aware of the risks of climate change.
Climate Change and Governance
Our Governance and Environment Board Committee meets quarterly to identify and review climate change risk and opportunities.
We currently pay $30 per tonne of CO2 in Alberta as per local regulation. In other jurisdictions where there is less clarity, we apply scenario analysis to an effective carbon price to guide decisions.
Clean power growth strategy:
- We are the largest wind energy producer in Canada and the largest hydro producer in Alberta
- We have hydro, wind and solar facilities across North America and produce enough energy to power over 500,000 homes
Greenhouse gas emission (GHG) reduction targets:
- Our goal, in line with a commitment to the UN Sustainable Development Goals (“SDGs”), is to reduce our total GHG emissions in 2021 to 30 per cent below 2015 levels.
- Our goal, in line with a commitment to the UN SDGs and prevention of two degrees Celsius of global warming, is to reduce our total GHG emissions in 2030 to 60 per cent below 2015 levels.
Energy efficiency improvements or optimization of our plants:
- Availability targets at our thermal power generation facilities: High availability at our thermal plants equals an improved heat rate, reduced energy consumption and hence reduced GHG emissions
- Largest cogeneration (combined heat and power) gas power producer in Canada
Generation of offset and renewable energy credits credits from renewable energy portfolio and emissions trading:
- Offset our carbon portfolio and generate additional revenue from renewable energy
- Active emissions trading group
Carbon compliance and participation:
- Participation and compliance within a number of carbon pricing structures (California, Alberta, Ontario, Australia)
- We report annually on climate change strategy, risk, opportunity and emissions database to CDP (formerly the Carbon Disclosure Project).
Climate Change reporting:
- We report our governance, strategy, compliance, risk and opportunities associated with climate change in our annual Integrated Report
- Annual CDP reporting. In 2015 we scored 100% for disclosure of climate change management and in 2016 we scored a B (combined score for disclosure and performance on climate change)