MONTREAL, Sept. 26, 2022 /CNW/ - SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, today released its 2021 Sustainability report, titled Our Vision for Engineering a Sustainable Society. The report measures the Company's progress made against existing ESG targets, as well as detailing the enhanced commitments made in 2021.
"2021 has been another year of progress in Sustainability at SNC-Lavalin, as we focused on defining how we want to do business as a company," said Ian L. Edwards, President and Chief Executive Officer, SNC-Lavalin. "Through our projects and corporate activities, we've fully operationalized our purpose: to engineer a better future for our planet, and its people. We set Engineering Net Zero as our north star and positioned ourselves in geographies and markets where governments and the private sector are investing to meet their Net Zero obligations, manage their climate risk, and build climate resiliency into their portfolios as the global effort is expected to require significant investment over the next 30 years."
The comprehensive report details how SNC-Lavalin is advancing its Engineering Net Zero blueprint, launching new Net Zero focused services and winning major contracts in support of decarbonization initiatives from public and private clients across the Company's core geographies of Canada, the US, and the UK and beyond. This is in addition to the ongoing strengthening of SNC-Lavalin's Equality, Diversity, and Inclusion (ED&I) targets at the executive management and Board level, extensive philanthropic contributions in communities around the world and the robustness of its corporate governance infrastructure — notably its industry-leading Integrity program, independently recognized as best-in-class for its effectiveness.
"Our Vision For Engineering a Sustainable Society, along with every other step we've taken in our ESG journey as a purpose-driven organization, demonstrates what we know to be true: that an ambitious, transparent, and accountable ESG strategy is good for the business too," commented Dr. Hentie Dirker, Chief ESG and Integrity Officer, SNC-Lavalin. "Done correctly, an integrated ESG strategy deployed with precision in the areas we can have the greatest impact does not put constraints on our business. Rather, it strengthens it by making us a more attractive partner for current and prospective clients to do business with, bolsters our value proposition in talent attraction and retention, and ensures we're staying one step ahead of the expectations of our multi-faceted stakeholder base."
Highlights of the 2021 Sustainability report include:
- Pay for Performance — ESG: The Board has structured executive compensation so that it will now be directly tied to the achievement of ESG targets.
- Net Zero by 2030: Set a target of Net Zero carbon emissions by 2030 across corporate activities, and released a Routemap to achieving it. Complementing these targets, SNC-Lavalin also joined the United Nations Framework Convention on Climate Change's Race to Zero global campaign and signed The Climate Pledge; a commitment to achieve the Paris Agreement 10 years early. More recently, the Company strengthened its commitment to achieving carbon neutrality by joining Science Based Targets Initiative (SBTi).
- Thought Leadership & Climate Advocacy: Published Engineering Net Zero reports in Canada and Germany (in addition to our analysis for the UK) where we explored each country's Net Zero commitments in detail and offered a blueprint as to how Net Zero policies and ambitions can translate into an actionable energy plan.
- DecarbonomicsTM platform: This proprietary platform leverages carbon databases to deliver cost-effective retrofitting solutions and demonstrates how SNC-Lavalin makes an impact on sustainability outside of the Company's internal ESG targets. Through these initiatives, SNC-Lavalin is positioned as a market leader and a key partner, facilitator, and enabler of a Net Zero carbon future.
Find out how SNC-Lavalin is engineering a better future for our planet and its people through the full report here.
About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, technology and data to design, deliver and operate the most complex projects. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital – and delivered to clients in key strategic sectors such as Engineering Services, Nuclear, Operations & Maintenance and Capital. News and information are available at snclavalin.com or follow us on LinkedIn and Twitter.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Reference in this press release to the "Company" or to "SNC-Lavalin" means, as the context may require, SNC-Lavalin Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's or management's expectations or strategies may be "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or the negative thereof or other variations thereon. Forward-looking statements include any other statements that do not refer to historical facts. This press release includes certain forward-looking statements, including statements regarding the Company's stated objectives, priorities, strategies, sustainability and equality, diversity and inclusion ("ED&I") commitments, objectives and targets (including with respect to the Company's emissions reduction forecast and targets, achieving Net Zero carbon emissions from corporate activities by 2030). All such forward-looking statements are made pursuant to the "safe-harbour" provisions of applicable Canadian securities laws. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. Although the Company believes that the expectations reflected in such forward-looking statement are reasonable, it can give no assurance that such expectations will prove to have been correct. Forward-looking statements for periods beyond 2022 involve longer-term assumptions and estimates and are consequently subject to greater uncertainty. Moreover, given the impact of the changing circumstances surrounding the COVID-19 pandemic and the related response from the Company, governments, regulatory authorities, businesses, suppliers, customers, counterparties and third-party service providers, there is inherently more uncertainty associated with the Company's assumptions as compared to prior years. The Company will continue to assess its assumptions to ensure that its approach to reaching Net Zero carbon emissions from corporate activities by 2030 is reflective of market conditions. The Company's sustainability commitments, targets and actions are based on the Company's current strategic plan, geographic footprint, mix of lines of business and overall size and scope of operations as well as a number of assumptions, including, without limitation, the following material assumptions: the Company's ability to develop and implement various corporate and business initiatives, including new procedures, policies and targets, to decarbonize current infrastructure and foster a new culture of low carbon behavioural change and choices across the Company's workforce; the Company not undertaking or pursuing any new corporate or business initiatives, business acquisitions, investments, joint ventures or technologies that would materially increase the Company's anticipated levels of greenhouse gas ("GHG") emissions; future earnings and the Company continuing to have a solid or adequate financial position that can support or justify such commitments, targets and actions; the availability of comprehensive and high-quality GHG emissions and other third party data, including data-driven solutions to decarbonize the built environment; the ability of the Company to develop and maintain indicators to effectively monitor its advancements; projections with respect to renewable electricity generation and the built environment; there being no negative impact on the calculation of the Company's GHG emissions from refinements in or modifications to international standards or the methodology the Company uses for the calculation of such GHG emissions; sufficient collaboration with, and active and continued participation of stakeholders (including the employees, clients, suppliers and other main agents of the Company and the communities in which it is present), including by reducing their own GHG emissions; the ability of the Company to purchase sufficient credible carbon credits and renewable energy certificates to offset or further reduce GHG emissions, if and when required; the development and deployment of new technologies and sustainable products; the ability of the Company to identify climate-related opportunities as well as assess and manage climate-related risks; the general economic environment and financial market conditions in countries where the Company operates; geopolitical and sociopolitical uncertainty; and changes made to regulations that may affect the Company's business and the development of ESG requirement regulations. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the Company's 2021 Annual MD&A (particularly in the sections entitled "Risk and Uncertainties") and are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation.
TM is a trademark of SNC-Lavalin Inc. or its subsidiaries.
SOURCE SNC-Lavalin
View original content: http://www.newswire.ca/en/releases/archive/September2022/26/c3774.html