Enbridge Reports on 2015 Social and Environmental Performance and Progress and Introduces New Corporate Climate Policy
March 31, 2016
CALGARY, ALBERTA--(Marketwired - March 31, 2016) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced updates to its corporate Climate Policy in conjunction with the release of its thirteenth annual Corporate Social Responsibility (CSR) report.
"Our 2015 CSR & Sustainability Report shares our social and environmental performance, as well as the actions we are taking to integrate social and environmental considerations into our business decision making," said President and CEO Al Monaco. "The Report is one of the key ways we hold ourselves accountable to our stakeholders on the issues most important to them."
A particular area of focus for the Company in 2015 was to better define Enbridge's role in a lower carbon future.
"As a company with businesses that span the energy spectrum, from oil pipelines and natural gas distribution and processing to renewable energy and transmission, we believe we are uniquely positioned to contribute to advancing energy diversification while ensuring energy supply," said Mr. Monaco. "We consulted extensively over the course of the year, both internally and externally, on updates to our corporate climate policy to provide new guidance on reducing emissions and managing climate-related risks and opportunities."
The updated Policy includes commitments to develop multi-year plans for emissions reduction and energy efficiency in Enbridge's business segments; build on the $5 billion (CAD) Enbridge has already invested in renewable energy to double renewable energy generation capacity in five years; and invest in programs that will enable its residential and commercial natural gas customers to reduce energy use, emissions and costs. Enbridge will provide an annual review of its progress in achieving its policy commitments in future CSR reports.
Additional highlights from the CSR Report include progress against the Company's top corporate priority of safety and operational reliability. Enbridge reported strong performance in detecting and preventing spills and releases from pipelines and distribution systems, even as the Company moved record volumes on its liquids systems. In 2015, the Company invested more than $925 million on maintaining system fitness and detecting leaks across its North American pipeline operations, for a total investment of $4.9 billion over the past four years.
The 2015 Report also looks at the strategies and systems Enbridge continues to implement to achieve a more rigorous approach to engaging with stakeholders. The Report contains examples of changes the Company has made, and continues to make, in engaging with Indigenous peoples, communities, environmental organizations, employees and contractors. They include the introduction of Regional Engagement Plans to ensure engagement is an ongoing process.
More from Enbridge's 2015 CSR & Sustainability Report can be found online at csr.enbridge.com.
Enbridge released its 2015 CSR & Sustainability Report concurrently with its 2015 Annual Report, which provides a detailed overview of the Company's financial and operating performance and includes Consolidated Financial Statements and related Management's Discussion and Analysis for the year ended December 31, 2015. All of these documents, along with Enbridge's Annual Information Form (Canada) and Form 40-F (United States), are available at www.sedar.com (Canadian filings), www.sec.gov (U.S. filings), or www.enbridge.com/investorfilings.
Enbridge's 2015 Annual Report is now available online at www.enbridge.com/ar2015 and includes a message to shareholders from Al Monaco and David A. Arledge, Chair, Board of Directors, which provides insight into the Company's results and strategy to continue to deliver shareholder value in the future. The Management Information Circular has been mailed to all shareholders, along with information relating to the Company's annual meeting of shareholders to be held on Thursday, May 12, 2016, in Calgary, Alberta. A full copy of the Annual Report, including Management's Discussion & Analysis and financial statements, is being distributed to shareholders who have opted to receive it.
Printed copies of the Annual Report are available in both English and French on request. To request a copy of the Annual Report, call 1-800-481-2804 or email firstname.lastname@example.org.
Enbridge is one of three Canadian energy companies on the 2016 Global 100 List of Most Sustainable Corporations, and one of three Canadian energy companies on the 2015 Dow Jones Sustainability World Index. Both of these independent rating systems assess corporate performance on key social, economic and environmental indicators.
About Enbridge Inc.
Enbridge, a Canadian Company, exists to fuel people's quality of life, and has done so for more than 65 years. A North American leader in delivering energy, Enbridge has been ranked on the Global 100 Most Sustainable Corporations index for the past seven years. Enbridge operates the world's longest crude oil and liquids transportation system across Canada and the United States and has a significant and growing involvement in natural gas gathering, transmission and midstream business, as well as an increasing involvement in power transmission. Enbridge owns and operates Canada's largest natural gas distribution company, serving residential, commercial and industrial customers in Ontario, Quebec, New Brunswick and New York State. Enbridge has interests in nearly 2,000 MW of net renewable and alternative generating capacity, and continues to expand into wind, solar and geothermal power. Enbridge employs nearly 11,000 people, primarily in Canada and the United States, and is ranked as one of Canada's Top 100 Employers for 2016. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.
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