2020 Sustainability Report highlights Company's continued growth in renewable energy projects among key sustainability achievements
OAKVILLE, ON, Oct. 2, 2020 /CNW/ - Algonquin Power & Utilities Corp. ("APUC", "Algonquin" or the "Company") (TSX/NYSE: AQN), the parent company of Liberty Utilities and Liberty Power, has released its 2020 Sustainability Report, outlining progress towards its ESG goals and demonstrating its ongoing commitment to delivering mission-critical services and renewable energy solutions.
Arun Banskota, President & Chief Executive Officer, noted, "Sustaining energy and water for life is the shared purpose of Algonquin and all of our businesses. We are extremely pleased with our ESG progress this year, and to be in the Top 10 of Corporate Knights' Global 100 Most Sustainable Corporations in the World. Sustainability is at the core of our purpose, embedded into our broader corporate strategy and woven throughout every aspect of our operations."
Algonquin's ambition is to align its corporate resources and expertise to its ESG impacts and conduct its business responsibly. The Company is dedicated to promoting sustainability and increasing access to clean energy and water while cultivating a culture of compliance, ethics, and transparency.
George Trisic, Chief Governance Officer and Corporate Secretary said, "Our approach to sustainability governance is built on a strong foundation of strategic oversight, accountability, and cross-functional collaboration. This approach has enabled us to achieve the milestones published in our 2020 Sustainability Report, such as meeting 49% of our targeted 75% renewable generation goal; achieving more than 70% of our one million metric tons GHG emissions reduction target; and exceeding our goal of having 30% women in leadership roles."
The report also outlines Algonquin's strategic pillars of growth, operational excellence, and sustainability leadership. The pillars support how the Company embeds its ESG plans and initiatives into its broader corporate strategy and aligns the strategy with its operations. In 2019-2020, Algonquin selected six United Nations Sustainable Development Goals (UN SDGs) as the foundation for the Company's sustainability strategy. The Company also identified seven priority ESG issues that it believes are most relevant to its contribution to positive impacts on the planet, employees, and communities.
About the 2020 Sustainability Reporting Period
The Company's 2020 Sustainability Report focuses on progress and achievements during the period of January 1, 2019, through December 31, 2019, and also includes data from the years 2017 and 2018 for contextual and comparative purposes. The Company's 2023 Goals and Performance Scorecard, included in the report, reflects the performance data as of July 2020 to indicate the most current status of the Company's 2023 goals.
Algonquin plans to publish its 2020 TCFD (Taskforce on climate-related financial disclosure) disclosure by year-end.
Please visit www.algonquinpower.com/sustainability to download the full 2020 Sustainability Report.